The Medical Loan: 5 reasons why a Personal Loan may be your best friend in an emergency
Emergencies are rare, but they are always unexpected. When you are faced with a tough situation, you may need funds quickly.
Here is why a personal loan is just what you need in such a situation.
One: You receive funds instantly
Personal Loans are great in a medical emergency because you can get funds instantly. HDFC Bank disburses funds within 10 seconds* to existing customers who are pre-approved and 4 hours* for non-HDFC Bank customers.
Two: They are hassle- and stress-free
When you face a medical emergency, the last thing you want is to file paperwork to raise funds. HDFC Bank Personal Loans are quick and hassle-free. Pre-approved customers don’t need any documentation and for other customers the documentation is minimal.
Three: You can repay your medical loan in monthly instalments
You can plan your EMIs and tenure based on your monthly income and financial needs. HDFC Bank offers tenures from 12 to 60 months and EMIs as low as Rs. 2,149/Lac*.
Thus, there is less pressure to repay immediately (like in the case of credit card debt). Affordable EMIs also ensure that the repayments are hassle-free for you.
Four: You can receive funds higher than your existing credit card limit
At times, you may need more funds than your credit card limit allows you.
Even if you are a judicious credit card user, the card issuer will not be able to extend your credit limit immediately.
In such a situation, a personal emergency medical loan is your best bet. HDFC Bank provides loans of up to Rs. 40 Lakhs.
Five: You can pay your bills any way you like
Some hospitals or suppliers may not accept credit cards for payments. In such a case, you can apply for a personal loan and get funds instantly. You can withdraw the loan amount given by the bank and pay in cash, write a cheque or transfer money online
Worry not when you are in a medical emergency. Apply for a personal loan now and #Startdoing!
* Terms & conditions apply. Loan disbursal at sole discretion of HDFC Bank Ltd
