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Medical emergencies can come knocking at your door when you least expect them, bringing about the need for a quick sum of money. In such critical situations, medical emergency loans come as a relief and ensure that you and your family are well-protected.

You may think that you do not need a medical loan if you have a health insurance policy in place. However, you must understand that a health insurance policy is an element that covers your medical bills, but with accelerating medical treatment costs, there are cases when health insurance falls short of the total requirement.

For example, the final claim amount settled by the insurance company can be lower than the total treatment cost of the insured. Or you have to opt for a non-network hospital without cashless treatment facilities and pay the entire amount from your pocket. Later, you take the reimbursement route, which may take weeks, sometimes months, to settle.

Whether or not you have insurance, there could be instances when a medical requirement arises and you need funds at disposal. During such times, the healthcare financial services of GMoney come to the rescue. One of their offerings is providing medical emergency fund to the needy, which is a hassle-free experience.

Let’s learn more about medical emergency loans, their eligibility, and how you can avail one.

Eligibility for a Medical Emergency Loan

Any citizen of India can avail the facility of a medical loan from a healthcare financial service.

The eligibility criteria is:

• You must be over 21 and under 60 years of age

• You can be a salaried employee or self-employed individual .

• You must have a PAN card

• You must have a good CIBIL / credit score

Documents Required

You just need to submit a few documents to get a medical emergency loan.

• Small application form of a healthcare financial service like GMoney

• PAN Card

• Aadhar Card

• Bank Statement

Medical Loan Interest Rates

Most healthcare financial services offer a personal loan for a medical emergency at interest rates starting from 11.99% per annum. However, the rates charged depends on a number of factors like your credit score, medical requirement, total amount, tenure of the loan required, and nature of your employment. Some agencies also charge a small processing fee as file charges.

Benefits of Availing a Medical Loan from GMoney

At GMoney, you can apply for a loan from Rs 25,000 to Rs 5 Lakhs. Some of the important features of a medical emergency loan from GMoney are:

• Instant Approval: If you have a requirement for funds, you can avail of the medical emergency funds provided by GMoney.

• Care Now and Repay Later: You are given the flexibility for repaying the loan and GMoney provides you with various options and different tenures to repay your loan.

• Minimum Documentation: GMoney requires minimum documentation unlike most of healthcare financial service providers.

• No Collateral: Unlike most other types of loans, there is no collateral required as security while applying for a medical loan at GMoney.

• Covers All Ailments: You can get a medical loan for any kind of ailment. Ranging from a long-term medical treatment such as chemotherapy to short-term dental treatment, you can avail a loan for all types of healthcare.

Conclusion

A medical emergency requires instant and hassle-free funds. If you are looking for a loan at the most competitive interest rates and need cash quickly, try GMoney. With repayment schemes tailored to suit your needs, avail the best medical treatment for yourself and your family members without worrying about high medical bills.

GMoney also offers a No Cost EMI, which you can avail of if that suits your needs better. You get approval within 60 seconds of applying for the No Cost EMI at GMoney. Repay the amount without paying anything extra within the term.

Already have a Mediclaim policy and want to utilize it? GMoney offers advance against Mediclaim. Even if your credit score is poor, you can still avail of this service if you have a Mediclaim policy.

With such a quality, affordable healthcare, GMoney should undoubtedly be your top pick to sort your medical loan requirements.

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