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01 JULY, 2022
This word is enough to send anyone into a panic mode and affect their decision-making capacity. However, emergencies can hit harder when one of your family members is critical and in need of medical aid. A medical emergency needs immediate attention and an unknown amount of money. Even a day of hospitalisation can lead to a long list of tests and a longer bill. The end result, you end up losing all your savings. Therefore, experts often advise availing a personal loan to pay for the medical expenses rather than draining your savings or relying on family and friends for financial aid.
Kotak Mahindra Bank can help you manage your financial needs that arise while dealing with a medical emergency. A medical emergency loan is a personal loan that you can avail to pay for all your medical and ancillary expenses. Here is how Kotak Mahindra Bank’s medical emergency loan can help you fight the tough times.
We understand how stressful it can get to handle a medical crisis. Thankfully, you need not run between banks to get your loan amount. You can get an instant personal loan through Kotak's website. You need to fill out the application form online with your details and furnish adequate documents. Once you fulfil the formalities, you can get instant approval and disbursement of the loan amount within a few hours.
You could need funds for different purposes during a medical emergency. It could be for hospital bills, surgery, medicines, therapy, etc. With a personal loan, you can pay for all the expenses. It has no specific usage or end use.
When you borrow from friends or family, you might have to deal with the pressure of repaying the amount immediately, which could be an issue during a medical emergency. With a personal loan, you get a flexible repayment schedule. You can choose a tenure between one to five years that helps you repay through comfortable EMIs. It would be best to use a personal loan EMI calculator to know the best tenure for your budget. You can avail a loan for a longer tenure and prepay the amount when you have enough funds.
While applying for a medical emergency loan, you need not submit any collateral or security. It is an unsecured loan, which means you need no guarantee for the borrowed amount. However, you must meet all eligibility criteria. You must have a high credit score and a stable income source.
Medical emergencies can be terrifying if they are followed by a financial constraint. A personal loan from Kotak Mahindra Bank can be a saviour providing you with timely and adequate financial funds for medical needs. However, to avoid overborrowing, you must check your EMI and affordability before applying. Do not let a lack of funds stop you from providing the best treatments to your loved ones. Apply now.
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