Use a Personal Loan to Pay Off Your Medical Debt
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Use a Personal Loan to Pay Off Your Medical Debt

  • Highlights

  • A personal loan helps you overcome medical debt

  • Get instant financing and pay as per your convenience

  • You can get access to a substantial loan amount

  • It helps you meet your post hospitalization expenses

A medical emergency can arrive at any time and can wipe away your lifetime savings. All it takes is one hefty medical bill to put your financial stability at peril. These bills can quickly snowball into a debt trap. According to the Consumer Financial Protection Bureau, more than half of the debt listed on consumer credit reports comes from medical expenses.

If you find yourself staring at a pile of hospital bills and drowned in a medical debt, a personal loan can provide you the necessary financial support to make things easier. Read on to know how this loan help you pay off your medical debt.

One loan to meet all your medical expenses

A personal loan is an unsecured loan issued by financial institutions without the need for any collateral. The primary advantage of a personal loan is that they are multi-purpose funds that can be used for any purpose. Whether you need to fund an emergency medical treatment or you need to clear out your existing debt, a personal loan can be used to meet all your financial requirements.

Besides medical debt consolidation, you can also use personal loans for financing your post-treatment expenses or funding your daily necessities while you are undergoing treatment. The high loan amount makes it easy to address a range of medical needs.

Quick financing

Unfortunately, your health insurance does not cover all type of medical contingencies. To add to the muddle, insurance claim is a time-consuming process and it requires meticulous paperwork and a long verification process before you get the claim disbursal. You can apply for a personal loan and get quick finance to get the best of treatment without any delay.

For instance, Bajaj Finserv’s Personal Loan gives you access to funds up to Rs.25 lakh, with money being disbursed in just 24 hours. You can also check out your pre-approved offer on personal loan and other offerings such as home loan and business loan among others by sharing a few basic details. Pre-approved offers make it easy to avail finance.

Flexi Loan Explained

Flexible tenor and easy repayment options

You can choose a convenient tenor for your personal loan and repay it with ease without straining your finances. You can receive the best of medical treatment without worrying about the hospital bills and repay them once you return to the pink of your health. You can use the online EMI calculator to know your EMIs in advance and manage your loan as per your convenience.

While your health insurance may cover hospitalization expenses, your financial requisites are not confined to that only. A personal loan is your trusted ally while dealing with a medical emergency.

Personal Loan Instant Approval

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