Do you have any medical emergency that you want to cover by liquidating your assets and savings? Hold on; you don’t need to do that! It is because you may be able to use other financial assets and fulfil your requirements. Go through this post and know more!
1. Emergency personal loan
The first thing that you can opt for is an emergency loans that you can get from leading lenders and banks if you have a robust cibil score and meet eligibility terms. Based on your eligibility, you can get loan approval for as high as up to Rs.25 lakh with a flexible repayment tenor ranging up to 60 months.
2. Loan against credit cards, mutual funds, fixed deposits and others
Instead of liquidating your assets like mutual funds and fixed deposits, you can apply for a loan against the principal on them at a lower rate to meet your needs. You can also apply for a loan against your credit card if you have been repaying your EMIs on time.
3. Loan against gold
Gold is also that you can use during a medical emergency to apply for a loan against it without hassles as gold is what is used as collateral. This way, you can get a higher loan limit against your gold value. You can pay EMIs over a tenor and then get possession of your gold after the loan repayment is complete. However, if you are unable to manage the loan debt and can’t manage to repay the loan EMIs, then your lender may use your gold to recover the loan money.
Based on your needs and personal profile, you can apply for a financial asset while battling medical emergencies and come out victorious.
If you are ready to apply for any of them, including emergency personal loan, then you can save your time by doing it online.