Highlight: Medical emergencies can strike at any time. Not only are they physically exhausting, but they also drain you emotionally and financially. You may have to break into your savings or borrow money to cover these unexpected expenses. A personal loan might assist you in avoiding these paths by providing you with instant access to finances.
Obtaining a personal loan is not as grilling as it was. With technological advancement and economies have progressed a lot. Now, apart from banks, several other financial intermediaries like Fibe provide instant loans.
Some of them are equipped with instant loan disbursement and pre-approved packages to ensure a seamless experience.
Eligibility Criteria for taking a medical loan
The general eligibility criteria for taking out a loan is as follows,
- This loan is available to any hired or self-employed individual.
- You must be between the ages of 21 and 58.
- You should have at least one year of continuous work experience and be currently employed for at least six months.
- The minimum salary requirement is INR 20,000. This figure might go up in cases of metropolitan cities.
- You must be a citizen of India.
Documents Required for Acquiring a Medical Loan
The documents that you should carry before applying for a medical loan in banks are as follows,
- Proof of identity
- Address proof
- Passport size photographs
- Recent salary pay-slips
- Form 16
- Company offer letter
- Certification of Employment
- Bank statements
- Income documentation
Organizations like Fibe (formerly EarlySalary) offer a paperless and simplified procedure. If you meet the eligibility criteria, then that’s it!
The platform’s high acceptance rate, along with the confidence that the money will be in your bank account in a flash with no paperwork, results in a loan experience that rivals those of some materialistic purchases.
In contrast to traditional loans, another distinguishing aspect of an instant personal loan obtained from EarlySalary or other such financial organizations is the loan’s flexibility in terms of loan utilization.
With EarlySalary, the loan amount can be utilized for anything related to the medical emergency, not just medical expenses such as surgeries, medical bills, and so on.
There are no extra limits, such as those associated with insurance claims, such as an upper limit on medical expenses and room type, and so on. Simply said, take the money, utilize it, and repay it on suitable terms, or even early – there are no prepayment penalties!
What’s the bottom line? Money should never impede providing the greatest medical facilities and services for you and your family.
How to Get Instant Medical Loans from EarlySalary?
EarlySalary has made the process of taking out medical loans even more simple. It’s like shopping online or ordering your groceries!
- Visit the EarlySalary website or download the EarlySalary app.
- Fill out all of the relevant information by clicking on their “Start Application” button.
- Once the application is approved, simply upload the required documents, such as a passport-sized photo and identity proof in pdf format, to their portal with self-attestation.
Sit back and take advantage of the loan amount, which will be immediately deposited into your bank account!
As medical emergencies are almost always situations surrounding life or death, it is crucial to be aware of sham websites offering loans at low-interest rates.
Always try to search for your perfect loan plan and trust safe and secure platforms like EarlySalary.
Along with the perks listed above, EarlySalary also provides other services such as no additional cost for prepayment, medical loans to study medicine, no additional renewal or annual charge, and freedom to choose the payback term. As a result, you may pick EarlySalary and never let money stand in the way of your family’s health.
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