A Bajaj Finserv Personal Loan comes with the fastest disbursal time in the country. During the time of medical crises, borrowers can avail of this personal finance for treatments without any delay. With the digital loan facility from this financer, applicants can receive the advance amount within 24 hours of application.
By following these steps, individuals can avail prompt funding for a medical emergency –
- Check eligibility parameters and necessary documents
When considering a medical loan, individuals should learn about the eligibility norms beforehand. This way, they can not only decrease the effort and time but also reduce the possibilities of loan rejections.
Here are the basic criteria –
- Applicants have to be a citizen and a resident of India.
- A CIBIL score of around or above 750 is compulsory to apply for personal loans.
- Candidates employed with recognized companies are qualified for personal finance.
- Age bar for salaried individuals is between 23-55 years.
Applicants need to submit several documents that can verify the eligibility as mentioned above. They are – copies of KYC documents, salary slips of the previous two months, employee ID, and bank account statement of the last three months.
- Know about salient features of a personal loan
A Bajaj Finserv Personal Loan offers various attractive features that are helpful during crises. Following are the benefits that applicants should know about personal loans for a medical emergency –
- Online availability
This financial institution has come up with a completely paperless application process where existing customers are allowed to avail the loan digitally. This instant loan process does not require branch visiting or document submission. The complete experience is digitalized and fast.
- Significant loan amount
With a Bajaj Finserv Personal Loan, a significant advance amount of up to Rs.25 lakh can be availed. Borrowers can use this amount for various medical costs like diagnostic tests, hospital bills, medicine charges, etc.
Since this loan does not have any restriction to usage, borrowers can utilize the funds for any purpose other than healthcare.
- Convenient repayment tenor
A Bajaj Finserv Personal Loan also comes with flexible tenors of up to 60 months. This feature permits the borrowers to select repayment periods that suit their monthly income and repaying capacity.
However, applicants should know that although a longer tenor decreases the EMI amount, it increases the cost of loan. Contrarily, a shorter tenor has the opposite effect.
- Check the terms and conditions
Irrespective of the eligibility criteria, all applicants should check the various norms of the contract. Also, it is vital to understand the applicable charges on personal lending. These charges may include foreclosure fees, processing charges, late payment fees, etc.
- Apply for the loan online
On completing the above three steps, individuals can apply for online personal financing as a medical loan. The NBFC sends their representative to the doorstep of new applicants for documents collection.
After a successful application process, the lender will approve and sanction the funds in one working day.
Bajaj Finserv provides pre-approved offers that can significantly help in simplifying the application process. Other than personal loans, these offers apply to business loans, credit cards and a host of other financial products. Applicants can check their pre-approved offers from this financier by entering their mobile number and name.
Existing customers of Bajaj Finserv can apply for an instant personal loan by selecting their pre-approved offer; they can receive the amount in their account within 20 minutes.
Individuals will be able to use a personal loan to pay off medical debts as well as for proper treatment on time.