5.7cr+
Satisfied Customers
Emergency Priority
Instant Support for Medical Emergencies
Focus on recovery, not the bills. Cover surgeries, hospitalization, and treatments immediately with our priority health financing line.
65+
Lending Partners
Rs.65k Cr+
Loans Disbursed
Loan Details
Medical Personal Loan Calculator
Calculate your EMI and total interest for a personal loan designed for medical emergencies with flexible repayment options.
Instant Approval
No Hidden Charges
100% Digital Process
Representative Example:
Borrow ₹5,00,000 over 12 months at 9.99% APR. Total repayment: ₹5,27,467.42 with monthly EMIs of ₹43,955.62.
EMI Calculator
Select Your Bank
Enter Loan Amount
₹5,00,000
50K50L
9.99
8%30%
1
1Y10Y
Monthly EMI
₹43,955.62
Total Interest
₹27,467.42
What is a Medical Loan?
A medical loan is a specialized personal loan designed to cover urgent healthcare expenses. It offers instant approval and quick disbursal to ensure that financial constraints do not delay necessary treatment.
Lenders offer flexible repayment options with tenures typically ranging from 1 to 5 years (up to 60 months). This allows you to manage the cost of expensive procedures through affordable EMIs.
Standard eligibility criteria:
- Salaried or Self-employed individuals
- Credit Score (750+ preferred for speed)
- Minimum monthly income (approx. ₹20,000+)
- Age typically between 21 and 60 years
These loans can cover hospitalization, surgeries, medicines, and even post-care treatments not typically covered by insurance.
Financial Guide
Medical Loan Interest Rates
Medical loan interest rates typically start from 10.49% p.a. Given the urgency, many lenders offer specialized 'Instant Approval' tracks for medical emergencies with minimal documentation.
Navigating Medical Emergency Finance
When a health crisis strikes, time is the most critical asset. Here is how to secure funds instantly without falling into a debt trap:
1
Prioritize Disbursal Speed
In an emergency, speed beats interest rate. Pre-approved offers from your existing bank can often be disbursed in minutes, whereas new applications take 24-48 hours.
2
Check Insurance Coverage
Use the loan only for the 'gap' amount—costs not covered by your health insurance (like room rent limits, co-pay, or consumables).
3
Digital KYC Process
Opt for lenders offering Video KYC and digital signing. Physical document collection is too slow for emergency situations.
4
No Collateral Needed
Medical loans are unsecured. Do not waste time arranging assets for collateral unless your credit score is too low for an unsecured loan.
5
Tenure for Recovery
Select a longer tenure (e.g., 60 months) to keep EMIs low during the recovery period. You can always prepay the loan once you are back to work.
Medical Loan Eligibility
Check eligibility Specialized personal loans designed for urgent medical expenses, offering quick processing to ensure treatment is not delayed.
Age Criteria: Typically between 21 to 60 years at the time of loan application.
Employment Type: Salaried employees or Self-employed individuals with a stable income source.
Minimum Income: Net monthly income of ₹15,000 to ₹25,000 depending on city of residence.
Credit Score: A CIBIL score of 750+ is preferred for instant approval, though some lenders relax this for emergencies.
Work Experience: Minimum 1 year of total work experience (for salaried) or business vintage (for self-employed).
Nationality: Must be a resident Indian citizen.
Medical Loan Fees and Charges
While medical loans are processed quickly, standard banking charges apply. Some lenders may waive processing fees for specific hospital tie-ups. For a detailed breakdown of medical loan fees, see below:
| Particulars | Charges |
|---|---|
| Processing Fees | Up to 2% - 3% of loan amount + GST |
| Foreclosure Charges | Within Lock-in (6-12mo): Not allowed After Lock-in: 0% – 4% of principal outstanding |
| Penal Interest | 24% p.a. (2% per month) on overdue EMI |
| Loan Cancellation | ₹ 1,000 - ₹ 3,000 (if cancelled post-disbursal) |
| EMI Bounce Charges | ₹ 450 - ₹ 850 per instance |
GST @ 18% is applicable on all fees. Foreclosure charges may be waived if the loan is closed using own funds.
Why Choose a Medical Personal Loan?
Medical loans provide immediate financial relief during health emergencies, ensuring that a lack of funds never compromises the quality of treatment. Unlike insurance, which may have caps or waiting periods, these loans offer comprehensive coverage for all medical-related expenses.
Key Benefits of Medical Loans
- Quick disbursal (often within 24 hours)
- Covers costs not paid by insurance (e.g., co-pays)
- No collateral or security required
- Flexible tenures up to 60 months to lower EMIs
- Minimal documentation to speed up processing
- Funds can be used for surgery, medicines, or therapy
Medical Loan vs Health Insurance
While health insurance is your first line of defense, a medical loan is crucial when insurance limits are exhausted or for treatments not covered by your policy.
| Medical Loan | Health Insurance |
|---|---|
| Coverage: 100% of expenses (inc. consumables) | Coverage: Subject to sub-limits, co-pay & caps |
| Waiting Period: None (Immediate funding) | Waiting Period: 2-4 years for pre-existing diseases |
| Applicability: Any treatment (Dental, IVF, Cosmetic) | Applicability: Only medically necessary hospitalization |
| Nature: Debt (Repayable via EMI) | Nature: Protection (Pre-paid Premium) |
| Disbursal: Direct cash to account | Disbursal: Cashless or Reimbursement based |
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