No matter how hard we try to stay healthy and fit, some health or medical emergencies are beyond our control. You or a family member can face a medical emergency.
A major medical emergency may involve the cost of an ambulance, major surgery, and post-surgery hospitalisation and therapy. Depending on how severe the medical emergency is, the medical expenses can easily go above ₹ 1 Lakh possibly even more. An insurance cover may not suffice to pay for the whole expense. The rising medical bills can keep you awake at night while you dig deeper into your wallet.
Thankfully, an emergency loan can cover the costs, allowing you more time healing or caring and less time being stressed about money.
Job or Income Loss
A sudden loss of a job can not only be devastating, but also financially, emotionally, and mentally crippling. Coping with the ever-rising cost of living without a job in hand can cause tremendous financial strain.
In an event like this, when you may not have saved up to cover your essential expenses, an emergency loan can help cover the expenses until you get another job.
Some home repairs may be sudden and costly. For example, repairing a broken water heating system can easily cost you ₹ 10,000. While this amount is not accounted for in your monthly budget, an emergency 10,000 personal loan is a great way to cover this cost.
Costly car repairs can happen at the worst times. Some repairs can be expensive enough to cause a significant dent in your financial budget. An emergency loan can take care of the repair costs without straining your budget.
Unforeseen Travel Expenses
There are times when you will need to travel on super short notice. Say there was a death of a loved one, as sad as it is, its ineveitable and at such a time, you will need to travel with family or alone. Another reason could be an event like a wedding or a celebration in the family can come along that you need to travel for. A last-minute round trip flight, combined with other expenses that may occur along the way, can easily cost you above ₹ 20,000. This might significantly dent your budget because these are the costs that you had not anticipated. In such situations, In such situations, an emergency 20,000 personal loan from MoneyTap can help.
Sudden death in the family can be crippling emotionally and financially. When grieving the loss of a loved one, no one wants to worry about money. Yet many people are not financially prepared for putting up a funeral. An emergency personal loan can take away the stress of funeral costs and rescue you financially in such a testing time.
A sudden relocation from one place to another can be costly. This may happen when your employer relocates to a new office, or you have got a new job offer in a company that's based in another location, etc. An emergency loan can help avoid the financial stress associated with the move, help you with rent deposits, moving expenses, purchases that you might need to make, etc.