Medical Expenses Loan
A Medical Expenses Loan is a type of personal loan offered to cover emergency or planned healthcare costs. It helps individuals and families manage financial strain caused by hospital bills, surgeries, treatments, medications, or diagnostic procedures.
Key Features
- Unsecured loan for any type of medical need
- Loan amount from ₹50,000 to ₹25 lakhs
- Quick approval and same-day disbursal (in urgent cases)
- No collateral or guarantor required
- Repayment tenure from 1 to 5 years
Eligibility Criteria
- Indian citizen aged 21–60 years
- Salaried or self-employed with stable income
- Minimum monthly income as per lender (typically ₹15,000+)
- Decent credit score (650+ preferred)
Required Documents
- KYC documents (Aadhaar, PAN, etc.)
- Income proof (salary slips, bank statements, ITR)
- Medical estimates, reports, or hospital bills (if available)
- Employment or business proof
Benefits
- Immediate access to funds for medical emergencies
- No asset pledge required
- Can be used for yourself or dependent family members
- Simple online application process
Top Lenders Offering Medical Loans
Medical loans are available from HDFC Bank, ICICI Bank, Axis Bank, Tata Capital, Bajaj Finserv, and other NBFCs and banks with quick disbursal options.
Important Notes
- Interest rates are higher than secured loans, so borrow responsibly
- Prepayment may be allowed with or without charges
- Always compare multiple lenders to find the best rate and terms