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Everything You Need to Know About Loans for Cosmetic Surgery

December 13, 2023 • 818 views

From celebrities to common people, cosmetic surgery has enhanced the physical appearance of many. Surgeries like facelifts, breast augmentation, chemical peel, body contouring, etc., have gained popularity over the years. Today, various lending institutions provide the required financial assistance to enable you to afford these expensive surgeries without budget constraints. Read on to learn the benefits of an Instant Loan for cosmetic surgery and how to apply.

Why Consider a Loan for Cosmetic Surgery?

The transformative procedures of cosmetic surgery are often expensive. The overall cost of the treatment can range from several thousand to lakh. Therefore, it is better to consider securing financial assistance like a loan for such treatments. An Instant Loan can cover such high expenses by immediately providing the required financial support.

Benefits and Advantages of Securing an Instant Loan for Cosmetic Surgery

You can avail of the following benefits by securing a loan for cosmetic surgery:

  • Enhance Affordability: Getting a loan for cosmetic surgery can make expensive transformative treatments affordable for you. With this, you can avail of funds on time without spending your savings.
  • Competitive Interest Rates: Several lending institutions offer loans for cosmetic surgery at competitive interest rates. This minimises the overall cost of the loan and makes the borrowing affordable.
  • Flexible Repayment Plans: You can secure the required funds for cosmetic surgery with flexible repayment tenure. This flexibility allows you to take a loan for an extended period. This means, you can choose a loan repayment plan that aligns with your budget.
  • Digital Application: The loan application process has become hassle-free. Most lenders now allow you to apply for a loan for cosmetic surgery online with minimal paperwork requirements. This saves you time and provides convenience as you can apply for the same from the comfort of your home. 
  • No-collateral Required: Investing in your physical appearance has become easier as an Instant Loan is collateral-free. This means for a loan to undergo cosmetic surgery, you do not need to pledge any of your valuable assets as collateral security. 

Eligibility Criteria for an Instant Loan for Cosmetic Surgery

For a cosmetic surgery loan, you have to meet the following criteria:

  • Age: Between 25 and 55 years old.
  • Citizenship: The applicant must be an Indian citizen.
  • Annual Income: The minimum annual household income must be ?3 Lakh or above.
  • Credit Score: 750 or above.

Documents Required for an Instant Loan for Cosmetic Surgery

You need to submit the following documents for an Instant Loan for cosmetic surgery:

  • KYC Documents: PAN card/Aadhaar card/driving license/voter ID card/passport for KYC verification.
  • Proof of Address: Your utility bills/rent agreement/passport with a current and valid address.

Also Read :- Digital Personal Loan: A Convenient Solution for All Financial Needs

Steps to Apply for a Cosmetic Surgery Loan

You can refer to the following instructions to apply for a loan for cosmetic surgery: 

  • Step 1: Click on the ‘Apply Now’ button.
  • Step 2: Fill in the required details on the loan application form.
  • Step 3: Upload necessary documents.

On successful verification, the loan will be transferred to your bank account.

Interest Rates and Other Costs

The interest rates for a loan can vary from lender to lender. Various factors influence the interest rates, such as your credit score, repayment tenure, loan amount, etc.

The associated costs include processing fees, pre-payment charges, late payment penalties, etc. This can also vary depending on the lender and lending institution’s policies. However, NBFCs like Poonawalla Fincorp, provide loans at competitive interest rates and zero hidden charges.

While an Instant Loan provides you with numerous benefits, you should have a proper repayment plan to prevent any negative impact on your credit score. Check out the loan repayment tips in the next section.

Tips for Loan Repayment

Here are some tips to guide you to borrow responsibly:

  • Budget Before Borrowing: You should estimate the amount you need to undergo cosmetic surgery. Avoid borrowing unnecessarily, as it can increase your overall borrowing cost.
  • Explore Lenders: Explore different lending institutions to get the required funds at the most favourable terms.
  • Use EMI Calculator: Use EMI calculators to estimate your amount of EMIs. You should choose a loan repayment tenure that aligns with your income and budget.
  • Make Timely Payments: Make payments on time, as it can improve your credit score and make you eligible for better financial opportunities. You can also automate your monthly payments to avoid missing any of your EMIs.

To Conclude

Empower yourself with confidence with an Instant loan for cosmetic surgery. This loan opens doors to undergo expensive transformative treatments without worrying about funds. However, you must explore options that provide you with competitive interest rates, flexible repayment tenure, and a hassle-free loan application process. By carefully understanding your financial situation and evaluating your loan options, you can secure funds at favourable terms for a cosmetic surgery.

Disclaimer

We take utmost care to provide information based on internal data and reliable sources. However, this article and associated web pages provide generic information for reference purposes only. Readers must make an informed decision by reviewing the products offered and the terms and conditions. Personal Loan disbursal is at the sole discretion of Poonawalla Fincorp.
*Terms and Conditions apply

poonawalla fincorp team

Poonawalla Fincorp Team

Our team of expert writers and editors are passionate about providing authentic and valuable information on finance. Our aim is to simplify financial and finance-related concepts. We strive to help our readers become more aware and empowered to make informed financial decisions.

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