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Medical Emergency Loan

Learn how a medical emergency loan can help cover unexpected healthcare costs with quick access to funds and flexible repayment.

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Partners 20+
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Maximum Loan Tenure 8 Years
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Maximum Loan Amount ₹55 Lakhs

A medical emergency loan provides quick access to funds for unexpected healthcare costs, allowing you to manage urgent medical expenses effectively. With no collateral required and flexible repayment terms, this loan provides a simple solution, making healthcare loans perfect for covering medical expenses without financial strain.

What is a Medical Emergency Loan

A personal loan for a medical emergency is designed to help cover unforeseen medical expenses during critical situations. It gives you quick access to funds, so you can pay for treatments, surgeries, hospital stays, and other urgent healthcare needs. Unlike regular loans, medical emergency loans offer flexible repayment plans to make it easier to manage your payments. You don’t need to provide collateral, and the application process is fast and simple, ensuring you get the support you need through lending for medical purposes without delays.

Check and Compare Interest Rates on Medical Emergency Loans by Various Banks and NBFCs

Here is a comparison of personal loan offers from various lenders available on Bajaj Markets, helping you choose the best option:

Available Offerings Max. Loan Amount Starting Interest Rate (p.a.) Max. Tenure Processing Fee

Aditya Birla Capital Personal Loan

₹7 Lakhs

13.50% p.a.

60 months

Up to 4% of the loan amount + GST

Federal Bank Personal Loan

₹5 Lakhs

12.75% p.a.

48 months

2% to 3% of the loan amount + 18% GST

Bajaj Finance Personal Loan

₹55 Lakhs

10.00% p.a.

96 months

Up to 3.93% of the loan amount (Inclusive of taxes)

CASHe (Bhanix Finance) Personal Loan

₹3 Lakhs

2.79% p.m.

18 months

Up to 5.5% of the loan amount + GST

Privo (Credit Saison) Personal Loan

₹5 Lakhs

9.99% p.a.

60 months

1% to 3% of the loan amount + GST

Kotak Mahindra Bank Personal Loan

₹40 Lakhs

10.99% p.a.

72 months

1.10% - 1.50% of the loan amount + GST

KreditBee Personal Loan

₹10 Lakhs

12.00% p.a.

60 months

Up to 5.1% + GST

L&T Finance Personal Loan

₹15 Lakhs

12.00% p.a.

48 months

Up to 3% of the loan amount + GST

Freo (formerly MoneyTap) Personal Loan

₹5 Lakhs

12.00% p.a.

36 months

1% onwards

SMFG India Credit Personal Loan

₹25 Lakhs

12.00% p.a.

60 months

0% to 6% of the loan amount + GST

YES BANK Personal Loan

₹50 Lakhs

12.50% p.a.

72 months

1.15% to 2.75% of the loan amount + GST

Fibe Personal Loan

₹5 Lakhs

14.00% p.a.

36 months

Up to 2% of the loan amount+ GST

Kissht Personal Loan

₹4 Lakhs

14.00% p.a.

24 months

3% to 5% of the loan amount+ GST

PaySense Personal Loan

₹5 Lakhs

14.00% p.a.

60 months

2% to 2.5% of the loan amount + GST or ₹500 + GST (whichever is higher)

Muthoot Finance Personal Loan

₹10 Lakhs

14.50% p.a.

60 months

2% to 4% of the loan amount + GST

Finnable Personal Loan

₹10 Lakhs

15.95% p.a.

60 months

Up to 3% of the loan amount + GST

InCred Personal Loan

₹10 Lakhs

16.00% p.a.

60 months

2% to 5% of the sanctioned amount + GST

Piramal Finance Personal Loan

₹6 Lakhs

17.25% p.a.

60 months

1.50% to 4.50% of the loan amount + GST

Olyv Personal Loan

₹1 Lakh

18.00% p.a.

12 months

2% to 12% of the loan amount + GST

IIFL Finance Personal Loan

₹5 Lakhs

18.00% p.a.

42 months

2% to 6% of the loan amount + GST

Upwards Personal Loan

₹5 Lakhs

18.00% p.a.

36 months

Up to 4% of the loan amount + GST

Zype Personal Loan

₹5 Lakhs

18.00% p.a.

12 months

2% to 6% of the loan amount + GST

mPokket Personal Loan

₹45,000

24.00% p.a.

90 Days

₹50 to ₹200 + 18% GST (maximum APR of 48%)

Moneyview Personal Loan

₹10 Lakhs

1.33% p.m.

60 months

Starts from 2% of the approved loan amount + GST

Disclaimer: Reference to all terms and conditions refers to the terms set by the respective lenders, including loan amounts, interest rates, processing fees, and other related conditions. Based on the information provided during your loan application, you may receive multiple offers from our partner lenders.

Features and Benefits of Medical Emergency Loans

Here is a list of features and benefits of a personal loan for medical emergency available on Bajaj Markets, helping you make an informed decision for immediate medical financing needs:

Rapid Disbursals

Once approved, the loan amount can be disbursed to your account within minutes.

Quick Processing

The online application process allows your loan to be reviewed and verified within minutes.

Low Interest Rates

Personal loans available on Bajaj Markets offer competitive interest rates, beginning at just 9.99% p.a.

Compare Interest Rates

You can instantly borrow up to ₹55 Lakhs by comparing offers from 20+ lenders on Bajaj Markets.

No Collateral Requirements

You do not need to submit any collateral to secure a medical emergency loan.

Minimal Paperwork

Applying for a personal loan on Bajaj Markets is easy, thanks to the minimal documentation required.

Zero Hidden Charges

Bajaj Markets ensures complete transparency with no hidden or undisclosed charges.

Eligibility Criteria for Medical Emergency Loans

Before applying for a medical emergency loan, ensure you meet the following eligibility criteria:

  • Indian Citizenship: You must be a citizen of India

  • Salaried or Self-employed: Both salaried employees and self-employed individuals are eligible

  • Age Requirement: You must be above 18 years of age

  • Minimum Income: A stable source of income is required to qualify for the loan

  • CIBIL Score: A CIBIL score of 685 or above is typically required

Documents Required for Medical Emergency Loan

When applying for a medical emergency loan, you will typically need to submit the following documents:

Identity Proof Address Proof Income Proof

PAN Card

Aadhaar Card

Bank Statement (last 3 months)

Aadhaar Card

Passport

Salary Slips (last 3 months)

Voter ID

Voter ID

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Passport

Electricity Bill

-

Driving Licence

Telephone Bill

-

These document requirements may vary slightly depending on the lender, so it’s important to verify the complete list with your chosen lender before applying.

How to Apply for a Medical Emergency Loan

Applying for a medical emergency loan on Bajaj Markets is quick and simple. Follow these easy steps:

1. Begin your application by clicking on the 'Apply Now' button online

2. Select your profession from the dropdown menu

3. Enter your residential pin code and mobile number for verification

4. Agree to the terms and conditions and click 'Proceed'

5. Provide your personal details, such as:

  • Name (as per PAN card)

  • PAN card number

  • Email address

  • Date of birth

  • Gender

6. Fill in your employment information, including:

  • Employer/company name

  • Employer category

  • Monthly net salary

  • Salary credit method (cash or bank)

7. Review all entered details and click 'Submit'

8. Based on your eligibility, you’ll be presented with various loan options

9. Choose the most suitable loan option and select your preferred loan tenure

10. Finally, you'll be redirected to the loan provider’s website for completing KYC, e-mandate, and disbursal steps

Frequently Asked Questions

What are the factors to be considered while applying for a medical personal loan?

When applying for a medical personal loan, consider your cibil score, income, loan amount, repayment tenure, and interest rates. Lenders typically evaluate your financial stability and ability to repay before approving the loan.

Medical loan approval time varies but typically takes anywhere from a few minutes to 48 hours, depending on the lender and document verification process.

The maximum loan amount for medical expenses can vary by lender, with some offering up to ₹55 Lakhs. The amount depends on factors like your income, credit score, and lender policies.

Medical loans are generally not restricted to specific treatments. You can use them for surgeries, hospitalisation, medical tests, and other healthcare expenses, but it's essential to confirm with the lender for specific terms.

No, personal loans for medical emergencies are typically unsecured, meaning no collateral is required. The loan is based on your creditworthiness and income.

Yes, you can take a loan for medical treatment. Personal loans, including medical emergency loans, can help cover the costs of surgery, treatments, and hospitalisation.

Yes, emergency loans are available from various lenders. These loans provide quick access to funds for urgent situations like medical expenses or unexpected financial needs.

Yes, many lenders offer the option to apply for an emergency loan online, providing quick approval and fast disbursal to help you in urgent situations.

Emergency loans can be used for a range of expenses, including medical bills, repairs, or other urgent financial needs. However, confirm with the lender about any restrictions on usage.

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