A guide to Medical loan
A medical loan is a type of loan provided by banks and other money lenders to cover any costs suffered from a medical incident. These loans are used to pay medical bills and come under emergency loans.
An emergency medical loan can be approved fast for amounts up to Rs 50 lakh. As a medical emergency can happen at any time. These can be used to pay your medical bills, medicine costs, therapy costs, convenience fee, surgery costs, amenity bills etc. You can later repay your loan with easy EMI instalments within 1-5 years with LoanzBazar’s loan services.
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With LoanzBazar’s medical loan services, you can get your loan sanctioned within 24 hours which will allow you to pay your medical bills.
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Applying for Medical Loan has never been easier with Loanzbazar. Check details here:
LoanzBazar guarantees loan approval within 24 hours after screening the required documents and your application for your medical loan.
With the fastest and most convenient loan approvals, LoanzBazar always offers options for repayment in EMIs. You can start paying your medical loans 6 months after the loan transfer.
At LoanzBazar you can take a loan from anywhere between Rs 50,000 to Rs 10,00,000 for your medical emergency.
You can repay your loan amount with interest within 12 to 60 months by opting for LoanzBazar’s services.
When you are opting to take a personal loan with LoanzBazar you won’t be worrying about documents. As a medical emergency can happen anytime the sanctioning of loans is fast and easier with LoanzBazar.
The loan process at LoanzBazar is completely transparent. You do not need to pay any processing fee or other charges while applying for a medical loan.
You can pay all your medical bill using a medical loan which includes hospitalisation bills, medicine bills, surgeries, bypass surgery, chemotherapy, mental therapy costs, convenience fee, surgery costs, amenity bills etc
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The interest rates for medical loans in SBI are the lowest at 9% for a loan amount between Rs 5lakh to Rs15 lakh for a repayment tenure between 12- 48 months.
| Bank Name | Rate of Interest for Salaried Employee |
|---|---|
| HDFC Bank | 10.99% - 17.85% |
| Axis Bank | 11.99% to 24% |
| ICICI Bank | 10.99% - 17.85% |
| Standard Chartered Bank | 11% - 16% |
| IndusInd Bank | 14% - 16% |
| Kotak Bank | 11.50% - 24.00% |
| Bajaj Finance | 14.25% - 16.75% |
| HDB Finance | 14% - 21% |
| Fullerton Finance | 13.00% - 24.00% |
| State Bank of India | 11.00% - 17.65% |
| IDFC Bank | 10.99% - 17.85% |
| IDFC Bank | 10.99% - 17.85% |
| Tata Capital | 13.50% - 18% |
| Yes Bank | 12.50% - 16.00% |
You can get loans depending on bank policies. Rs 10 lakhs is mostly the average amount people take for a medical loan.
No, at LoanzBazar you do not have to pay any extra charges to apply for a medical loan.
Yes, you have to be more than 21-years-old Indian citizen, have a regular salary job or have a regular income.
No, approval of a medical loan at LoanzBazar does not take a lot of time. The loan amount will be transferred within 24 hours.
Yes, a decent CIBIL score is one of the parameters of getting a medical loan
