How to get 50,000 loans instantly via mobileWith the ongoing covid-19 pandemic, a medical emergency can flush out the savings anytime. The disease is so unpredictable that anybody can contract it and then the medical expenses begin for which you were never prepared. As per the 2020 statistics, so many households have suffered financially due to the medical expenses incurred in the COVID-19 treatment.
Now the question is how to raise the necessary funds when the medical uncertainty hits you. Here are some solutions that will help you to raise funds, during medical emergencies:
Family and friends - We all turn to our family and close friends whether it is an emotional turmoil or a financial one. They are the closest and a reliable source to take financial help during a medical emergency. But what if the money acquired from the kins is not enough or even they are undergoing a similar financial crunch, in this case, you need more options to avail the desired funds.
Avail of a personal loan - Instant personal loan is an ideal choice, as this is one independent source for raising the immediate funds supporting medical expenses. It is quick and can be availed within 24 hours because of the collateral-free nature that reduces the formalities of having a guarantor or assets submitted against the loan.
Opt for overdraft loan - Another simple way to raise funds in current medical emergencies could be through an overdraft loan facility. It is a form of credit that can be availed on your credit card or can be an extension of credit from a lending institution that is granted when your existing account reaches zero.
Take a loan against your investment - Make the most of your investments like FDs, RDs, PPFs & mutual funds. Before investing, ensure you research about their terms and benefits well as each of these collateral loans may vary greatly. Varying from lender to lender, you can get a considerable loan amount against investments that is more than 50% of your financial deposits charging 1% interest above the applicable deposit rate.
Loan against gold - This is a very common way of raising funds at the time of a medical emergency. Utilizing your gold to support financial emergencies is a quick option to avail liquid cash in hand. If you are mortgaging your gold against the loan amount, be sure of paying the EMIs on time. Any defaults in repayment can put your gold assets at risk.
Raise funds through an NGO - Crowdfunding through an NGO is also a very good option when huge medical expenses are involved. In case the ailment is grave like treating a cancer incurs heavy chemotherapy charges or a major surgery, get in touch with relevant NGO services who support medical causes.
With the above-stated options for fundraising in current medical emergencies, a personal loan seems to be an ideal choice due to minimal documentation and loan availability within 24 hours.
How do instant personal loans help to raise funds during a current medical emergency?Instant personal loan apps are curated to work in a very flexible way for the borrowers anywhere and anytime. The loan application is submitted online through a loan app, which can be easily downloaded from Google Play Store on your smartphone.
SimplyCash an instant personal loan app launched by HeroFinCorp is specifically designed to meet small cash needs. Those in need of a medical loan can avail of a personal loan via SimplyCash between Rs.50,000 to 1.5 Lakh.