A medical emergency is often related to heavy expenditure. You may need to pay an ample amount for the cost of treatment, medicines, surgery, and post-care procedures. Moreover, the escalating healthcare costs make matters even worse. In case you are struggling to pay medical-related expenses, an instant medical loan in Mumbai helps you raise immediate funds in less time.
A medical loan supports you in times of medical emergencies freeing you from breaking your savings, asking for help from a relative, selling jewelry, mortgaging your vehicle, etc. In times of medical urgency, an instant medical loan is faster to get and easy to apply.
Medical Emergency Loan vs. Health Insurance
There is a great difference between a medical emergency loan and health insurance. Funds received from a medical loan can be utilized to pay for any type of medical-related expenses, like surgeries, dental treatment, cosmetic surgery, medical bills, doctor fees, out-of-pocket expenses, etc. Health insurance usually doesn't cover certain illnesses like cosmetic treatment, IVF treatment, etc. Moreover, many critical illnesses, like heart surgery, etc., generally require a waiting period under health insurance, while there is no such capping in medical emergency loans.
Benefits of Instant Medical Loan in Mumbai
Managing high medical costs is painful. When your savings are less and the medical expenses are more, you can consider a medical loan. A loan for medical treatment ensures that you never have to compromise your health and get funds at the right times.
The medical loan helps keep safe your life-saving expenses and comes with various user-friendly features including:
? Quicker Approvals
Medical loans are quick as nobody wants to wait for the time of a medical emergency. A financial institution approves a medical loan almost instantly, and the funds are disbursed instantly once your documents are approved. These loans ensure that no financial crunch stands between you and healthcare facilities.
? No Physical Documentation
A medical loan requires minimum documentation. You can apply online with no need for any physical documentation. Paperless documentation aids in faster processing in real-time with instant approvals. Moreover, the online process is easy, where all details are at your fingertips every time as per your need.
? Flexible Repayments
Apart from easy approvals and quick disbursals, you can enjoy the liberty of a flexible repayment option for a medical loan. GMoney offers emergency medical loans where the borrowers are allowed to select the date and tenure for EMI payments. You can choose smaller EMIs with an extended loan tenure or can choose to pay early as per your paying capacity. A flexible repayment scheme makes a medical loan more convenient with the less financial burden on the borrower.
? Quick Disbursal
Medical loans are quick, and once the required documents are verified, GMoney approves the loan amount and transfers the money directly into the hospital's account. The whole process is simple and less complicated, and you get the required funds almost instantly to help meet your medical emergencies.
? Collateral Free
Instant medical loan in Mumbai is treated as a personal loan, so there is no need for any collateral or guarantee. You just have to share your Pan Card, Aadhar Card, bank details, and income statement. Once the documents are verified, the funds are transferred directly to the hospital's account where you are getting the treatment.
Conclusion
Dealing with a sudden medical emergency is a nightmare, as it is often associated with high expenditure. Life changes in the blink of an eye, and when we consider ourselves well settled, it can take us by a complete surprise. A medical loan from GMoney is one of the perfect solutions to meet the sky-rocketing expenses in times of medical emergencies.
