Business Wire India
When it comes to dealing with unplanned medical expenses, there are many financial options available today. However, in case of an emergency that requires immediate financing, availing a personal loan seems like a great choice as it can be easily availed, comes with a host of repayment options, and you can manage your expenses without dipping into one’s savings.
Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv, offers online medical personal loans that can be used to fund any medical emergency or wellness expense promptly.
How to get a personal loan online for a medical emergency
Here are four simple steps one needs to follow to avail instant funding from Bajaj Finserv. Read on to know more:
Step 1. Check the eligibility criteria
Before applying for a personal loan, customers need to check if they meet the personal loan eligibility criteria of the lender. To avail of a Bajaj Finserv Personal Loan for medical expenses, borrowers need to meet the following criteria:
– Must be an Indian citizen residing within the country.
– Must possess a credit score of 750 or above.
– Must have a steady source of income – employment or self-employed.
– Should be within the age of 23 years to 65 years of age.
Step 2. Learn about the different features of the Personal Loan
Lenders like Bajaj Finserv offer attractive features on their 100% digital personal loan like instant approval, disbursal in minutes and flexible repayment tenor which customers can avail by applying for the loan online.
Step 3. Read about the terms and conditions
- 2-click application process: As an existing customer of Bajaj Finserv, all one has to do is submit their name and contact number to check their pre-approved loan offer from the lender. On getting their pre-approved offer, one can select the amount up to which one wants to borrow from the approved amount and get the money.
- Paperless application: Offering an entirely digital experience, existing customers can get the loan online without having to submit any documents or visit any branch or meet any representative. The entire application process is paperless and quick.
- High loan amount: Lenders like Bajaj Finserv provide a personal loan up to Rs.25 lakh. Such a high amount ensures that all aspects of treatment can be sufficiently covered without straining one’s savings.
- Flexible tenor for loan repayment: Bajaj Finserv offers customers a flexible repayment tenor of up to 60 months. Customers can use the online EMI calculator to plan for their EMIs basis their income and other expenses.
- Quick loan disbursal: In times of medical emergencies, it is vital to get the funding on time to avail of the treatments without any delay. With a digital loan from Bajaj Finserv, customers can get the funds directly in their accounts in 24 hours from approval.
Existing customers who meet the personal loan eligibility criteria may not have to submit any documents and can get the money instantly. But it’s always good to read up on the terms and conditions on your loan. New customers, for instance, may need to submit a few basic documents to avail their money. One should also understand the fees and charges applicable on their personal loan.
Step 4: Get the loan
On deciding to avail of a personal loan from Bajaj Finserv
to fund one’s medical emergency, new customers can apply for the loan online. Once the loan application is completed successfully, they will receive approval from the lender and receive the funds directly in their account within 24 hours.
Thus, one can avail funds from Bajaj Finserv directly in their account to meet unprecedented medical expenses promptly and effectively.