Why Apply for an Emergency Medical Loan?

The only thing which is certain in our lives is uncertainty. We never know what will happen next, and life often catches up when we are least prepared. The same is with a medical emergency which comes with a surprise and leads us to financial hardships. As we are not always well prepared, an emergency medical situation may force us to seek financial help from our family, friends, and relatives. If you are also in a medical emergency and require immediate funds, then you have landed on the right page.

There are many non-banking financial institutes offering medical loans in India. The best thing about a medical loan is its flexibility of end-use. The funds are free to use for any medical-related purpose, allowing you to pay for surgeries, medical bills, doctor fees, hospitalization charges, and any other medical facility available. The process for a medical loan is simple yet fast, making it the most desirable loan during a medical emergency.

Significant features of a medical loan in India

Although many people have started investing in health insurance schemes, there is a large population that is still uncovered. Moreover, sometimes even health insurance does not cover certain types of illness or requires a waiting period, making you pay from your pocket.

During these times, a medical loan comes as a rescue. There are many advantages of taking a loan from GMoney finance. The overall loan structure is designed in a manner to help an individual meet their medical emergencies timely, and easily.

1. Easy to apply

GMoney offers easy medical financial assistance, which you can apply online. The procedure is quite simple and requires only a few minutes. You need to share your basic information, along with your mobile number and follow the easy steps to apply for medical finance assistance from GMoney.

2. Quick approval and immediate disbursal

Instant medical loans come with quick approvals as there is little time during an emergency. Once all the documents are submitted, the loan is disbursed almost instantly after the documents are verified. GMoney ensures to approve a loan application after checking your credit score within 60 seconds, and the loan can be disbursed within 30 minutes. The amount is transferred directly to the hospital’s account when you are taking the treatment.

3. Flexible tenure

A medical loan EMI is very convenient and manageable. GMoney allows you to repay the loan amount in affordable EMIs so that they are not a burden to you. You can choose your repayment tenure from 3 months to 18 months as per your choice and paying capacity.

4. No-cost EMI

GMoney finance offers medical assistance with zero interest EMI. You need not pay any interest on your loan amount and can repay in no-cost EMI, further easing your repayment schedule.

5. Collateral free loan

You don’t need to provide anything as security for the medical financial assistance offered by GMoney. That is, GMoney does not demand property, vehicle, or anything as security against your loan amount.

Other advantages of a medical loan from GMoney finance

• Medical loans in India are much faster than waiting for your health insurance to decide whether the illness is covered or not.

• A medical loan doesn’t necessarily impact the credit utilization ratio on your credit report.

• You can use the funds to pay any medical-related expenses. For example, paying for additional room charges required for an extended period of treatment.

Conclusion

GMoney offers emergency medical funds with no-cost EMIs for their retail customers, making quality healthcare affordable for all. If you have medical insurance, you can apply for an advance against your mediclaim with GMoney, to get instant approval.