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How To Raise Funds for Medical Treatment in Emergencies?

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    Raise Funds for Medical Treatment in Emergencies

    Health Insurance is one thing that everyone should have to fund for their medical treatments in case of emergencies. However, not all health insurance plans offer complete cashless hospitalization. There are times when certain components of the hospital bill will have to be paid for. This is where one needs to figure out how to raise funds for medical treatment in emergencies.

    The quickest ways to arrange for the money for medical treatment would be to liquidate investments if any or to approach one’s friends and relatives. Liquidating investments would mean digging into hard-earned savings. Borrowing money from relatives and friends might work only if they are ready to contribute. If either doesn’t work, here are a few more options to consider:

    Using Credit Card

    A credit card is the easiest and fastest way to arrange money for medical treatments. Almost all hospitals will have the facility to accept credit card payments. Nevertheless, here are a few things to be kept in mind, before using a credit card to pay for medical expenses:

    • High Fees and Interest Charges – The annual percentage rates or APRs are highest for credit cards when compared to other types of loans. Clearing off credit card balances every month is one way to avoid interest. But if this can’t be done the balance will keep getting resolved every month, with the high-interest fees kicking in.

    • Potential Credit Score Damage – High credit card balances with not-so-high credit limits can damage potential credit scores. Despite timely bill payments, high credit utilization can negatively impact the credit score.

    Pre-Approved Loan

    Most banks offer pre-approved personal loans to their loyal customers, depending on their credit history. Such loans can be availed of instantly, through net banking. The account will be credited with the required amount, within just a few seconds. Apart from this, there are also certain lending apps through which personal loans can be availed, within just a few hours after signing up. However, the loan amount and the interest rate depend on the borrower’s credit history.

    Loan against gold

    This is probably the first option that might come to the minds of many people while wondering how to raise funds for medical treatment. Many financial companies are ready to offer quick loans against gold, upon the submission of KYC (Know Your Customer) documents. People with poor credit scores can also qualify for these loans, as long as the gold that they pledge is pure. Also, gold loans are cheaper compared to personal loans and don’t require any guarantor. Nevertheless, these loans come with shorter tenures and are limited to 75 per cent of the gold value.

    Secured Loans

    Most banks offer loans against fixed deposits. Some even offer against mutual funds and shares, depending on the types of shares and fund houses the borrowers have invested in. However, the maximum limit of the loan amount would be 50 per cent of the current value of equity funds. In the case of debt funds, this might be slightly higher.

    Personal Loans

    This loan is apt for people who have no collateral to pledge. They are offered to borrowers with good credit scores. However, they carry high-interest rates and come with penalties for early payments or loan closures. Many external lenders offer online personal loans with instant transfer of funds. These involve minimal documentation and are very convenient to apply for.


    Many people resort to crowdfunding if they are left wondering how to raise funds for medical treatment. There are many crowdfunding platforms where one can raise funds for expensive medical treatments like cancer and IVF. These being funds donated for a cause, they don’t have to be repaid by the borrower. The funds can be withdrawn as and when the donations start coming in.

    A bit of experience pays when it comes to requesting donations for medical treatments. A well-written fundraiser that tells an honest story of the beneficiary is a must. All details should be furnished along with some images and compelling videos. Sharing the fundraiser on social media can make it much more effective to reach out to the maximum number of people across the world. Including a link to the fundraiser in social media posts can make it easy for people to donate within a few seconds. Fundraisers can be shared through text messages and emails too, with personalized requests.

    The Bottom Line

    The options are many when faced with the question of how to raise funds for medical treatment. However, the best one is still crowdfunding since the money thus raised, doesn’t have to be repaid. Check out a few crowdfunding platforms to find out how to go about crafting a fundraiser. Ketto could be a great place to start.

    Need Funds for Medical Treatment?

    Start a Fundraiser on Ketto and raise the amount for your treatment