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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.
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Medical emergencies and loans
There is no easy way to handle a medical emergency. It can befall anyone, anytime. Medical emergencies bring with them, a lot of responsibilities and things that need to be taken care of. While the best course of treatment will be decided by the doctors tending to the patient, one must make sure that the finances are in order so that the patient may receive the treatment that he or she needs. So how do you ensure that? You need to be prepared for medical emergencies all the time. However sometimes, medical expenses are over the roof and hence it becomes really difficult to manage them. You can always take a quick personal loan and take care of your medical emergencies with the funds you receive. Personal loans actually are life savers when it comes to taking care of medical emergencies.
How to apply for a personal loan during medical emergency?
Most banks which are geared towards providing customer satisfaction, make it a point to process medical emergency-related personal loans, quick and fast. What you need to do first in case of a medical emergency, is get in touch with your bank and let them know of the situation, provide some medical proof that the patient is hospitalized and is undergoing treatment. This will boost start the application process. Once the application process has begun, it should not take more than 2-3 days for the medical loan to get approved and the amount to be transferred. Once the loan is transferred you can use it for the treatment and then give it back on time.
Why go for medical emergency-related personal loans?
When it comes to a medical emergency of this nature you have to get hold of money so that the treatment can be done and that too in time. These loans are easy to get and they get approved without much hassle. You need to provide authentic documents just to show that you are making a valid claim. The best thing about this loan is that you can choose your time window and then select for how long you wish to take to repay the loan. You can use a personal loan EMI calculator to find out how much you will need to pay per month and then decide on the time period accordingly. So, loans of this nature provide you with the funds that you need immediately, thereby allowing you to pay it back as per your comfort.
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