If insurers believe the hospital overcharged the customer, it may take a while to resolve hospital fees for pandemic virus treatment. Insurers may choose not to pay for specific aspects of the hospital bill depending on the terms and circumstances of your health insurance policy.
The insurance regulator recently issued an order requiring firms to resolve pandemic claims as soon as possible. One of the quickest ways to get money is to approach relatives and friends and liquidate your investment. However, if you must take out an instant personal loan, there are a few options to explore.
Make use of your credit card.
This is the quickest method of obtaining funds. The majority of hospitals will let you swipe your card. However, keep in mind that credit costs in this area can exceed forty percent every year.
Check to see whether you have a loan that has been pre-approved.
Based on your credit history with the bank, the latter may be able to offer you a pre-approved instant personal loan. Net banking allows account holders to apply for such loans immediately. The funds are deposited into the account in a matter of seconds. Many lending applications can also offer an emergency personal loan based on your credit history within a few hours of signing up.
Gold as collateral for a loan
Taking up a gold loan is one of the easiest ways to get money. If your KYC (know your customer) documents are in order, you can acquire a loan from some non-banking financial organisations in as little as an hour.
Some companies have begun dispatching executives to the borrower’s location. Lenders don’t look at credit score in this scenario, either. The purity of gold is all that matters.
Also read: Reasons Why Online Cash Management is Important in Today’s World
Secured loan on the internet
The simplest option is to take out a loan secured by fixed deposits. Most banks, however, will need you to visit a branch. Some banks have begun to offer online loans secured by securities. Mutual funds and stocks are examples of securities.
Banks, on the other hand, have restrictions on the kind of stocks they will lend against. If you have invested with one of the leading fund houses, you can now get a loan against your mutual funds. In equity funds, you can get up to 50% of the current value of your investments, and slightly more in debt funds. Make a strategy to return the debt as soon as possible once you’ve gotten out of the emergency. For more of such useful information and a wide range of financial products to choose from, head to the Finserv MARKETS website.