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Tackle with any Medical Emergency using a Loan Against Property

  • Highlights

  • Medical costs in the country rise by 10% every year

  • Specialised medical treatments cost lakhs of rupees

  • Leverage your property to meet medical expenses with ease

  • Get up to Rs.3.5 crore via a pre-approved loan offer

Medical emergencies are notoriously known for showing up unannounced. This unpredictable nature combined with rising medical costs in India make it difficult to afford quality treatment when unprepared. Studies show that medical treatment in India is estimated to rise annually by 10%. Thankfully, today, you can get all the funding you need with a secured borrowing option like the Loan Against Property, Via this loan, you can get financing of up to Rs.3.5 crore at a competitive interest rate and what’s more, for a tenor of 2 to 20 years to tackle any surgical cost, hospitalisation, or lengthy therapies stress-free.

Now that you know how to secure the required funds, you should know how to best use them in an emergency. Here are 5 ways how a Loan Against Property will help you tackle medical emergencies.

Opt for the Most Equipped Healthcare Institutions

When faced with a medical emergency, your first priority is to rush to a healthcare institution. Generally, you will prefer to choose a well-equipped hospital because this allows you to get all the treatment you need under one roof. The upside is that you can easily access the tests and services you need without having to visit other clinics or centres. This is important because for some medical conditions, time is of the essence and being able to get diagnosed and treated immediately will make all the difference.

However, multispecialty hospitals equipped with adequate technology and facilities are generally costlier. These include charges for tests, in-house doctors and procedures and more. Therefore, it is best to borrow from the Bajaj Finserv Loan Against Property, as the ample sanction in combination with its low interest rates allows you to choose the best healthcare centres and pay for it affordably.

Pay for Treatments that Require Specialised Doctors

Strokes, heart attacks, organ failure or cancer are examples of ailments that require a specialised doctor. Availing medical aid for such diseases can be very expensive. For example, the average cost for cancer treatment can amount to Rs.10 lakh approximately, while treatment for heart diseases can cost anywhere between Rs.1 lakh and Rs.3.5 lakh per procedure.

As you’ll notice, the more severe the ailment, the costlier the treatment. This is mainly because specialised doctors have high fees besides the expenses for medication and hospitalisation. Therefore, it is best to obtain funding via a secured loan as the sanction is sizeable and the long tenor, of up to 20 years, allows you to repay it comfortably over time.

Foot Hospitalisation Bills Easily

Generally, in a medical emergency, the first course of action is to visit a hospital. However, in a bid to attain medical care, it is easy to overlook the steep cost of hospitalisation. Depending on the centre and duration of stay, these costs can run into lakhs of rupees as patients are charged a hefty fee for treatments and other incidentals such as meals and room rent. So, while it is smart to avail the services of a hospital, it is also prudent to secure adequate funding. A Loan Against Property is one way of accessing a sizeable sum of money.

Loan of up to Rs 3 crore against property in just 4 days

Get Access to Medication and Supplements without Compromises

Medication and supplements are as much a part of treatment as being diagnosed and operated on. This is because they play a major role in your recovery and can be instrumental in fending off further complications. However, due to inflation and rise in medical costs, tablets and other supplements have become incredibly expensive all over the country. This cost increases significantly for chronic illnesses that require patients to undergo a treatment for several weeks. To ensure you get the right medication and on time, secure the required funds by borrowing via a high-value loan.

Additional Read: Factors affecting Interest Rates on Loan

Avail Round-the-clock Care during Recovery at Home

Recovery is just as important as treatment and in some cases, you may need additional care even during this stage. Typically, in such instances, you can hire a nurse or a trained professional to assist you at home so as to ensure that recovery is as smooth as possible. These professionals can also run rudimentary tests and administer medication as per your needs. However, this service comes at a cost, which can be high, especially if you require it for a long period of time.

While all the above-mentioned measures are costly, they are necessary and, in an emergency, shouldn’t be compromised on or delayed. Financing these via the Bajaj Finserv Loan Against Property is an option to consider as you not only get access to up to Rs.3.5 crore, but can have the entire sanction disbursed into your account within 4 days of approval as well.

Further, you can also opt for the Flexi Dropline feature for a more convenient method of borrowing. This feature allows you to borrow from your sanction as and when you need and charges you interest only on the amount you withdraw. For medical expenses, this is a great option to opt for as it can be hard to predict how much you’ll require from the get-go. To apply for this loan, check your pre-approved offer online and get instant approval through a customised Loan Against Property deal.

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