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Top 7 Benefits of Taking a Personal Loan for Medical Emergency

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A medical emergency is a nightmare that people fear to think about. When a life threating emergency strikes, we rush to the hospital for getting the best treatment possible. What comes along with a relief is a heavy medical bill inclusive of medications, treatments, facilities, diagnostics, consultation fees etc. Are you ready to manage a big expenditure like a medical emergency? Owning a Mediclaim is a smart option nowadays but what about those dealing with medical ailments without any medical insurance?

When you are left amidst a storm and have to deal with heavy medical bills on a daily basis, apply for a medical loan online, it is a kind of a personal loan that is collateral free and doesn’t require any security for approval. A medical emergency loan will not take time for sanction If your purpose is true with the right set of documents to submit.
 
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Here are some prominent benefits of taking a personal loan for medical emergency:
 
  1. Quick loan approvals: Medical emergency can’t wait. The funds have to be arranged immediately. Instant personal loan apps sanction disbursal of loan amount within few hours directly into your account in contrast to personal loan offline which takes weeks to approve the loan amount.
 
  1. No physical documentation: Another significant reason to get medical loan via instant loan app is the paperless documentation procedure that does not require any kind of paper work. The minimal required documentation is uploaded on the preferred instant loan app and processed in real time for instant approval.
 
  1. Flexible repayment option: Borrowers in need of medical loan can select the date and tenure for EMI payments. Flexible repayment option encourages you to borrow more since the loan repayment becomes convenient.

     
  2. Loan EMI calculator: Loan EMI Calculator is an in-built feature in the instant loan apps. It gives the flexibility to decide the loan amount, tenure and interest rate as per your repayment ability.
 
  1. Zero Dependency on Other Sources: Using the savings, breaking fixed deposits, asking a relative, selling jewellery, mortgaging a vehicle etc. is not required when your medical emergency is supported through an instant personal loan.
 
  1. Security: Personal details, mandatory documents and income proofs submitted for personal loan verification are kept confidential to preserve the security of the borrowers.

     
  2. Transparency in Process: There are no hidden charges or high processing fee for personal loan for medical reasons. Transparency in loan processing increases the trust on the financer for future loan consideration.
 
HeroFinCorp is a fast pace instant loan app, which is just the right source to acquire emergency medical loan from 50,000 to 1,50,000. In case of an accident, injury or specialist doctor visit, you can organise for emergency medical loan using HeroFinCorp, instead of asking for monetary help from friends or relatives. Follow the steps below to apply for a medical loan via HeroFinCorp:
 
  1. Start with installing the HeroFinCorp app from Google Play store
  2. Register with mobile number and email id
  3. Proceed to the EMI calculator and set a desired EMI, taking into consideration the principal loan amount and interest rate
  4. Fill in the loan application details
  5. Verify KYC details and bank account
  6. On verification & approval, loan amount is disbursed instantly in the borrower’s bank account.
 
Availability of different types of loans has made life simpler and stress free to an extent. Medical loan is also one such useful loan supporting medical expenses in a timely manner.

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Did You Know

Disbursement

The act of paying out money for any kind of transaction is known as disbursement. From a lending perspective this usual implies the transfer of the loan amount to the borrower. It may cover paying to operate a business, dividend payments, cash outflow etc. So if disbursements are more than revenues, then cash flow of an entity is negative, and may indicate possible insolvency.

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