Health and weather are the two things that can never be predicted and those who predict those can well be termed as fraud. Medical emergencies usually arise when someone least expects it and it is in terms of best interest to have yourself covered financially in such unexpected cases. There should be medical insurance to cover the charges of hospitalisation and surgery and post operative care. If there is no medical insurance to fall back on then the patient and the family of the patient is under enormous financial pressure to support for pay for the best health care possible.
Since these times can come at any moment if the person is not proactive on his end and when such situations arrive then the person may find him in a very tricky situation. Thus the best option is the medical insurance but if that person has not been willing in his good times and had opted out from getting himself medically insure then No-cost EMIs for Healthcare requirements is the best way to go. It is a form of alternate funding where it is better than personal loans which have very high interest rates.
In no cost EMI loans for medical emergencies the patient’s family has to pay two EMIs worth of money before hand in one go and the rest of the interest part is borne by the hospital authorities as the subvention of the patient’s care and thus there is no cast associated with the loan leaving out the very meagre processing fee and few other very small charges. And if the patient suspects that the hospital may over charge him/her to cover the amount borne by it in the loans then he/she shouldn’t worry because the financing companies along with other authorities constantly keep a check on the various hospitals to see that nothing of such happens.
The no cost EMI loans cost approximately 30,000 INR on a loan value of 2, 50,000 INR. To get the approximate value of your EMI you can click here.
Loan provided by the Arogya Finance: The loan has only to be used for the medical purposes and the amount is only to be given to the caretaker which may be the hospital or the nurses or the doctor involved.
Arogya Finance is a firm that is different from the various other finance companies which require a lot of paper work like they ask for the property documents or the salary sheets to first ensure that the borrower will be able to pay back the amount he has borrowed. Arogya finance has moreover a proprietor approach which allows it to lend money to the informal clients which do not have access to documents such as salary sheets.
Loan provided by the Bajaj Finserv: The person borrowing money doesn’t have to give anything for collateral and thus this loan is sort of unsecured because there is no asset or collateral submitted.
You can apply for the loan without visiting the bank but they should qualify the criteria for the loan and that should be verified to the bank along with the credit score with CIBIL. The passing of the loan would take 24 hours and the repayment is easy as the time provided is ample and there is as mentioned EMI option. The rate of interest depends upon the tenure to pay back the amount. In this case the interest value may not be borne by the hospital.
Other than this the Banks like ICICI, HDFC also provide medical loans and they have option of EMI when there has to be repayment but the interest rate is not borne by the hospital as is the case with Arogya Finance.