Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply
Quick Links for loans
Quick Links for Insurance
Investment
Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Menu  
 
Apply Now

Tata Capital > Blog > Personal Use Loan > Why to apply for Personal Loan for Medical Emergencies Amid Pandemic

Personal Use Loan

Why to apply for Personal Loan for Medical Emergencies Amid Pandemic

Why to apply for Personal Loan for Medical Emergencies Amid Pandemic

The COVID-19 pandemic has not only created a crisis on the medical front but on the economic front as well. People all over the world are experiencing unemployment and financial crises, made even more pronounced by the uncertainty surrounding the pandemic. These circumstances have created a financial and emotional strain on both, salaried individuals as well as self-employed people. In such a time, when medical emergencies can strike at any time, you should consider applying for a personal loan for medical emergencies.

The benefits of personal loans are many. Not only do they help you prepare for the unexpected but also provide a steady influx of cash to ease the financial strain of increased medical expenditure and salary cuts. Given below are some of the major problems that can be tackled with a loan.

Be prepared for unforeseen circumstances

Under normal circumstances, medical emergencies arise rarely and even then, with the help of insurance schemes and loans, one can pay the bills without much trouble. But due to the health crisis generated by the novel coronavirus, there is no guarantee of safety. The treatment for coronavirus takes time and hospital bills may run into lakhs. Thus, taking a loan for emergencies will help you ensure that if need be, you can meet the costs of the treatment without going through much trouble and focus on caring for your loved ones.

Customers who hold a salary account with the lending bank and have a good credit score are eligible to apply for such medical emergency loans.

Additional Read: Top 5 instances where you can opt for a personal loan for medical emergencies

Combat the cash crunch

It is no secret that the pandemic has given a crushing blow to the economy, including the middle class. Many banks had come up with pandemic-specific loans to ease the brunt of the downfall. Although these schemes have been discontinued, you can still avail quick medical loans to combat your liquidation problems.

Ensure easy repayment of existing loans

The RBI Conference held in March 2020 had declared a relaxation on the repayment of loans and EMI for a period of three months from March to June 2020. This was attached to the terms that the borrowers would be charged extra interest rate for those months. Although this would prolong the tenure of loan repayment, it helped people in tiding over the lockdown period with some reassurance.

Additional Read: Tips to Repay Personal Loans without Affecting Your Wallet

To sum up

With the steady easing up of coronavirus lockdown restrictions, people are returning to their jobs and getting back to normal life. However, the daunting problem of salary cuts or delays and unemployment, along with the constant threat of COVID-19 is still looming. Thus, to ensure that you do not face difficulty in maintaining your health- both physical and financial, Tata Capital’s instant personal loan can be of great help. You can apply from the comfort of your home and utilise our loan calculator, EMI calculator, etc. to get the best personal loans for Covid-19. Visit our website today and learn about our loan options and personal loan interest rates.

Apply Now
Disclaimer

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Viewed Blogs

Trending Blogs

Calculator

Personal Loan EMI Calculator

Personal Loan EMI Calculator
Home Loan EMI Calculator

Home Loan EMI Calculator
Business Loan EMI Calculator

Business Loan EMI Calculator
Used Car Loan EMI Calculator

Used Car Loan EMI Calculator
Two Wheeler Loan EMI Calculator

Two Wheeler Loan EMI Calculator
Loan Against Securities Calculator

Loan Against Securities Calculator
Loan Against Property Calculator

Loan Against Property Calculator
More Tools
Our Subsidiaries
Our Other Websites

Important Information

Investor Information

Visit us on:,Visit us on: www.tatacapitalmoneyfy.com,www.tatacapitalmoneyfy.com

Our Private Equity Funds

Amalgamated Companies

Top Branches

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Uh oh, something went wrong

Please try again later.