Apply for an Online Loan for a Medical Emergency
Fund all your medical expenses without straining your budget! Get a collateral-free Personal Loan from Poonawalla Fincorp to cover all costs incurred during a sudden medical emergency. Avail of up to ₹50 Lakh with affordable interest rates, flexible repayment options, and zero hidden charges. Apply now!
What is a Medical Emergency Loan
A Medical Emergency Loan is a type of Personal Loan that helps cover unexpected medical expenses. It can be used for urgent treatment, surgeries, hospital bills, or any other related expenditure. This loan provides quick financial support without the need for collateral, making it an easy solution during times of crisis.
How Can a Medical Emergency Loan Help You
Any situation can turn into a medical emergency without any warning, and a Personal Loan can provide quick financial support during such times. Here’s how it can help:
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No End-usage Restrictions: This loan gives you flexibility to use the funds for whatever is needed, unlike health insurance, which has coverage limitations.
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Quick Access to Funds: With an Instant Medical Loan, you can apply online and get quick approval for timely medical treatment.
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Zero Collateral: No need for collateral or security, which simplifies the process.
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Flexible Repayment Tenure: You get a repayment term from 12 to 84 months, with flexible repayment options.
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Minimal Documentation: Just basic documents like identity proof, bank statements, and address proof are required as part of a smooth loan application process.
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High Loan Amount: Borrow up to ₹50 Lakh to cover surgery costs, diagnostic tests, and other related expenses.
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Affordable Interest Rate: Benefit from competitive interest rates starting at just 9.99%* p.a., keeping your overall costs low.
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No Prepayment Charges: Pay off your loan early with no extra charges if paid from your funds.
EMI Calculator for Medical Emergency Loan
Use our loan EMI calculator for a quick estimate of your monthly repayments for a Medical Loan. Enter your loan amount, tenure, and interest rate to get instant results. Try it now!
Why Choose Poonawalla Fincorp
Collateral-free Loan
High LoanAmount
AffordableInterest Rate
FlexibleRepayment Tenure
Zero HiddenCharges
Minimal Documentation
Apply for a Personal Loan Online in Just 3 Steps
Click on “Apply Now”
Tap the “Apply Now”button to initiate your application.
Enter Details
Enter your DOB, PAN card number, monthly income, KYC details and residential details.
Upload Documents
Upload the necessary documents for quicker approval.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Fulfil our simple eligibility criteria to avail of a medical loan:
- Age: Between 21 and 60 years.
- Citizenship: Indian.
- Employment: Full-time job with a government entity, public/private limited company, LLP, educational institution, or a company approved by Poonawalla Fincorp.
- Work Experience: Minimum 1 year, with at least 1 month in the current job.
- Monthly Income: At least ₹30,000.
Submit the following documents to avail of a loan for medical emergency:
- Address Proof: Utility Bills, Passport, or Rent Agreement.
- KYC Documents: Aadhaar Card, PAN Card, Voter ID, Driving License, or Passport.
- Employment Proof: Official Email ID or Employee ID Card.
- Financial Documents: Bank statements for the last 1 month.
- Income Proof: Recent salary slips for the last 3 months.
Get a Personal Loan for medical emergency at affordable interest rates and minimal charges:
i) If Foreclosure or Prepayment is done including balance transfer from another financial institution – 4 % on amount being prepaid plus applicable taxes.
2) After repayment of first six EMI:
i) If Foreclosure or Prepayment is done from own funds of the Borrower- Nil charges.
ii) If Foreclosure or Prepayment is done any other source including by balance transfer from another bank/financial institution- 4% on amount being prepaid plus applicable Taxes.
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
Personal Loans can be used for a range of medical expenses, like:
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Pay for hospital and medical bills
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Cover medical expenses and treatment costs
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Cover post-hospitalisation expenses
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Meeting fund gaps from insufficient health insurance coverage
When applying for a Personal Loan during medical emergencies, keep these factors in mind:
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Loan Amount: Evaluate your needs as much as possible and accordingly decide on the amount you want to borrow.
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Interest Rate: Compare interest rates to secure the most competitive offer.
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Processing Fees: Look for loans with minimal or no processing fees. Transparent fees and minimal documentation make the process easier.
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Repayment Flexibility: Opt for loans with flexible repayment tenures to suit your budget.
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Disbursal Time: In emergencies, quick access to funds is essential. Choose a lender offering quick disbursal to ensure timely financial support.
Ensure you have ID proof, address proof, and income proof ready to speed up the loan application process.
Avail of a Personal Loan, just by meeting the lender's employment criteria:
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Salaried individuals
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Salaried Chartered Accountants
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Salaried doctors
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Salaried Company Secretaries
Check out these tips for a successful Personal Loan application:
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Avoid making multiple loan applications
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Ensure that all the information you provide is accurate
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Consider planning out your monthly repayments
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Consider consulting with a financial advisor or loan expert
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Maintain a healthy credit score
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Always seek clarification on any loan terms
Happy Customers, Happy Us
Throughout my loan journey, the Poonawalla Fincorp team showcased exceptional dedication, in-depth product knowledge, and a truly customer-centric approach. At every stage, they guided me with patience and clarity, making the entire process seamless, transparent, and timely. Their proactive communication and unwavering willingness to go the extra mile are a testament to the organization’s high standards of service excellence. Such professionalism not only fosters strong customer trust but also reinforces Poonawalla Fincorp’s reputation as a leading, customer-focused financial institution. I extend my heartfelt thanks to the entire team for their commendable efforts and wish them continued success in all their endeavors.
Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!
Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.
I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!
A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.
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Frequently Asked Questions
Yes, Poonawalla Fincorp's app is ideal to be used in the event of medical emergencies or sudden financial needs. Using the app, you can complete your loan application in no time with minimal documentation and quickly get access to essential financial support.
The minimum and maximum loan amounts for a Medical Emergency Loan is ₹1 Lakh and ₹50 Lakh, respectively. A wide variety of medical needs can be covered with this loan product.
There are no applicable part payment charges associated with a loan for a medical treatment if the loan is repaid from your funds. However, 4% prepayment charges are applicable if the loan is repaid from other sources.
The maximum repayment tenure for a Personal Loan for medical emergency is 84 months, i.e., 7 years. You can choose any tenure between 12 months and 84 months at your convenience.
In case of a late payment, a 2% per month interest is levied on the due amount. This charge can differ based on the lender and the situation, so ensure you contact your lender as soon as you anticipate an inability to make the payment.
A good credit score, typically 750 or above, is often required for Medical Loan approval. Make sure you don't have too many existing loans and pay your EMIs on time to increase your credit score. After you get your loan approval, put a proper repayment plan in place to maintain your credit score.
With Poonawalla Fincorp, you can get quick access to an instant Medical Loan, giving you immediate financial support. Once the loan is reviewed, there is instant approval and quick disbursal, so the money directly gets transferred to your account. Additionally, it is a fully paperless process, especially useful in cases of immediate treatment where there's no time for paperwork.
An emergency Medical Loan helps relieve the financial burden caused by unexpected medical expenses. The application process is quick and requires only a few basic documents, such as identity proof and bank statements. With almost-instant disbursal provided by many lenders for all the expenses, it deals with the stress of acquiring funds so that you can focus on the bigger problems at hand.
The additional funds from a Medical Loan put you in a better financial capacity to deal with a range of related expenses. These include surgery costs, diagnostic tests, post-treatment care, and therapies.