Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Check Eligibility

Medical Emergency Loan

While the out-of-pocket expenditure (OOPE) on health by households in India has decreased over the years, it still remains high compared to global levels.


Life can be uncertain, and even a small surgical operation can dent your savings by a huge margin. While health insurance covers the cost of such medical emergencies, they can fall short of the required amount for a procedure. 


Moreover, they do not cover cosmetic procedures and come with exclusions based on the plan you purchase. A medical emergency loan can help you avoid such a huge impact on your wallet. Read on to know more about how personal medical loans work and how you can avail of them.


If you are looking for a loan for a medical emergency, you can apply for a personal loan. It allows you to use the loan amount for various purposes, including the cost of medical treatment as well as diagnostics and medication. 


Moreover, if you opt for this medical emergency loan, you get to enjoy competitive interest rates. This allows you to save a sizable amount on interest payments. The loan has basic eligibility criteria for you to meet and offers a speedy application procedure. 


You can also avail of a top-up loan on your existing personal loan easily with  Bajaj Markets.

Medical Emergency Loan Interest Rate

If you are thinking of getting a personal loan for a medical emergency, you must be aware of its interest rates and other charges. Check all the applicable fees in the table below: 

Medical Loan Interest Rates and Other Charges

Interest Rate

9.99% p.a. onwards

Processing Fees

Up to 6% of the loan amount

Disclaimer: The interest rate and other charges provided in the table above are subject to changes at lender’s discretion. Check the current rates and charges with the lender before applying.

Features & Benefits of a Medical Loan

High Loan Amount

High Loan Amount

You can avail of a loan amount of up to ₹50 Lakhs for your healthcare bills. You can use this amount to cover your expenses on medication, treatment, tests, or hospitalisation.

Flexible Repayment Tenure

Flexible Repayment Tenure

You can choose a repayment tenure that suits your financial capabilities. You have the freedom to pay off the loan anywhere within 6 months and 6 years.

Immediate Disbursal

Immediate Disbursal

Thanks to the simplified application process, you get the money in your bank account quickly.  This way, you can address your health straightaway.

Ease of Repayment

Ease of Repayment

With an affordable personal loan interest rate and by choosing the right tenure, you can repay your loan without strain. You can also benefit from the part prepayment facility to clear off your dues.

Minimal Documentation

Minimal Documentation

Since the entire application process for most personal loans is online, you can avail of this loan quickly and with minimal paperwork.

Calculate EMIs for Medical Loan

Loan Amount
Rate of Interest
Your Monthly Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
Download Amortization Schedule Download
Expand Amortization Schedule
Year EMI Principal Interest Balance

Eligibility Criteria for Medical Loan

To apply for a personal loan for a medical emergency, make sure that you fulfil a few eligibility requirements, which are:

  • You must be above 21 years

  • You need to be an Indian resident 

  • You should be a salaried employee at an MNC, a private or a public limited company

  • Your monthly salary must be above ₹15,000

Documents Required for Medical Loan

In order to apply for personal medical loans, you will need to submit the following documents: 

  • KYC Documents:

Aadhaar card, PAN card, Passport, or Voter’s ID

  • Employment Proof:

Employee ID card

  • Income Proof:

Salary slips and bank account statements for the last three months  


After you submit the necessary documents, the lender will verify your paperwork. Once your application is approved, you will get the money in your bank account.

How to Apply for Instant Medical Loan?

To apply for a personal loan for a medical emergency, you can follow this step-by-step application process:

  • Visit the official website of Bajaj Markets

  • Go to the ‘Loans’ section and select the ‘Personal Loan’ Category

  • Click on ‘Apply For Personal Loans’ to navigate to the application form

  • Fill in your personal, financial, and employment details

  • Click on the ‘Check Your Offer’ button

  • Select your preferred lender from options

  • Choose a suitable loan amount

  • Submit the required documents to a representative, who will get in touch with you

  • Once the loan is approved, you will receive the money in your bank account within 24 hours.

Apply for a Medical Loan Now

Medical emergencies can dwindle your finances when you have to pay a large amount out of pocket. Your healthcare bills can even dent your savings if you decide to use them for this purpose.


To avoid such scenarios, you can avail an instant medical loan. By meeting the simple eligibility terms, you can get funds instantly to meet urgent healthcare needs. 


Know all about different types of personal loans.

FAQs on Personal Loan for Medical Expenses

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

When applying for a medical personal loan, make sure that you fulfil the lender’s eligibility criteria and have all the relevant documents. Moreover, make sure that your credit score is 750 or higher and your monthly salary is above ₹15,000.

How long does it take to approve medical loans?

Your personal loan for a medical emergency application is approved within 5 minutes if you qualify for it as per the eligibility terms.

What is the maximum loan amount I can get for a personal loan for medical expenses?

With an instant medical loan, you can avail of a maximum amount of ₹50 Lakhs. This helps you address a wide range of expenses related to healthcare from hospitalisation to consultations, medicines, lab tests, and more.

Do medical loans have any restrictions on the type of treatments that can be availed?

No, you can use personal medical loans to cover the cost of any type of medical treatment.

Loan Offer
Download App