The funds out of a personal loan can be used for wedding expenses, travel plans, debt consolidation, home renovations and more. One of the most common usages of personal loan funds is for medical emergencies.
Being unsecured, does not mean pledging any collateral. But it also attracts a higher rate of interest leading to the payment of bigger EMIs.
Still, the loan is approved fast without many formalities and a large sum.
Therefore, availing of the flexi personal loan from Bajaj Finserv to manage your medical emergencies is the best thing. Let’s know more!
What is flexi personal loan from Bajaj Finserv?
Bajaj Finserv is one of the leading providers of personal loans in India. If you are eligible, then you can get a large loan amount.
Other than a significant amount and other features, it also comes with the flexi facility to help you manage your medical emergencies.
The flexi personal loan facility of Bajaj Finserv helps you to use funds from your overall loan limit as and when required.
This way, you don’t need to make multiple applications when you need funds during different stages of medical emergencies.
Personal loan for medical emergencies with Flexi feature
1. Borrow funds as per your wish
The Flexi personal loan helps manage any urgent needs of the funds. It is because you can withdraw money as many times as per your wish. You may have to deal with paying different bills while dealing with a medical emergency. And that’s when you can borrow an amount and make the payment.
2. Pay interest only on the withdrawn amount
Every time you borrow an amount out of the Flexi personal loan, you only need to manage to pay the interest on the amount. The interest is not charged on the overall limit. Hence, you are able to enjoy savings on EMIs.
3. Lower EMIs
When you borrow only a part of your loan limit, it is obvious that you only need to manage to pay a small EMI based on that. It also translates to not hampering your monthly expenses.
4. Make repayments with the facility of part prepayments
The Flexi personal loan not only lets you withdraw an amount that you need out of the total limit, but it also permits you to make part prepayments. Yes, if you want to reduce the loan’s interest and tenure, you can make some part prepayments. That means being able to manage smaller EMIs later. When you are dealing with a medical emergency, then it can help you. You can pay a small amount as the EMI and don’t have to bother paying a large sum per month.
5. Comes with easy financing
The Flexi personal loan lets you get quick approval and money in your bank account within 24 hours. You can avoid lengthy paperwork and documentation.
While applying for the same, ensure having a credit score of 750+, healthy repayment, and income record. It can fasten the loan approval process and cover your needs during a medical emergency without hassles.
The personal loan for medical emergencies not only gives you instant funds to meet your needs. You can also enjoy personal loan tax benefits if you use the loan money for business expansions, home renovations, and more.
This way, you can claim the amount paid as interest as per your usage and enjoy tax savings. You can apply for the Bajaj Finserv Flexi personal loan facility online and save your time.