Loan Amount
Up to ₹50 Lakh
Interest Rate
Starting at 9.99%* p.a.
Loan Tenure
12-84 Months

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:

  • No End-usage Restrictions: This loan gives you flexibility to use the funds for whatever is needed, unlike health insurance, which has coverage limitations.

  • Quick Access to Funds: With an Instant Medical Loan, you can apply online and get quick approval for timely medical treatment.

  • Zero Collateral: No need for collateral or security, which simplifies the process.

  • Flexible Repayment Tenure: You get a repayment term from 12 to 84 months, with flexible repayment options.

  • Minimal Documentation: Just basic documents like identity proof, bank statements, and address proof are required as part of a smooth loan application process.

  • High Loan Amount: Borrow up to ₹50 Lakh to cover surgery costs, diagnostic tests, and other related expenses.

  • Affordable Interest Rate: Benefit from competitive interest rates starting at just 9.99%* p.a., keeping your overall costs low.

  • No Prepayment Charges: Pay off your loan early with no extra charges if paid from your funds.

Why Choose Poonawalla Fincorp

collateral icon Collateral-free
Loan
Loan Icon High Loan
Amount
Interest Rate icon Affordable
Interest Rate
EMI Icon Flexible
Repayment Tenure
Charges Icon Zero Hidden
Charges
Document Icon Minimal Documentation

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!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹100000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
9.99%
30%

Tenure

Months
12 Months
84 Months

Apply for a Personal Loan Online in Just 3 Steps

Step1

Click on “Apply Now”

Tap the “Apply Now”button to initiate your application.

Step2

Enter Details

Enter your DOB, PAN card number, monthly income, KYC details and residential details.

Step3

Upload Documents

Upload the necessary documents for quicker approval.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for a Personal Loan for Medical Emergency

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.

Documents Required for a Medical Emergency Loan

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.

Interest Rate and Charges for a Medical Loan

Get a Personal Loan for medical emergency at affordable interest rates and minimal charges:

Interest Rate
9.99%* p.a. onwards
Loan Amount
₹1 Lakh to ₹50 Lakh
Loan Processing Fees
Up to 3% plus applicable taxes
Lowest EMI Per Month
Starting from ₹2,124* per Lakh for 60 months
Loan Tenure
12 – 84 months
Prepayment/Foreclosure Charges
1. Before repayment of first six EMI:
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
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500/- Per Bounce
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

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

Different Uses of a Personal Loan

Personal Loans can be used for a range of medical expenses, like:

  • Pay for hospital and medical bills

  • Cover medical expenses and treatment costs

  • Cover post-hospitalisation expenses

  • Meeting fund gaps from insufficient health insurance coverage

Things to Consider While Getting a Medical Emergency Loan

When applying for a Personal Loan during medical emergencies, keep these factors in mind:

  • Loan Amount: Evaluate your needs as much as possible and accordingly decide on the amount you want to borrow.

  • Interest Rate: Compare interest rates to secure the most competitive offer.

  • Processing Fees: Look for loans with minimal or no processing fees. Transparent fees and minimal documentation make the process easier.

  • Repayment Flexibility: Opt for loans with flexible repayment tenures to suit your budget.

  • 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.

Who Can Get a Personal Loan for Medical Emergencies

Avail of a Personal Loan, just by meeting the lender's employment criteria:

  • Salaried individuals

  • Salaried Chartered Accountants

  • Salaried doctors

  • Salaried Company Secretaries

Tips for Successful Personal Loan Application

Check out these tips for a successful Personal Loan application:

  • Avoid making multiple loan applications

  • Ensure that all the information you provide is accurate

  • Consider planning out your monthly repayments

  • Consider consulting with a financial advisor or loan expert

  • Maintain a healthy credit score

  • Always seek clarification on any loan terms

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

Is there a Medical Emergency Loan app that can be used for instant Personal Loans?

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.

What are the minimum and maximum loan amounts for a Medical Emergency Loan?

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.

What are the applicable part payment charges for an emergency loan online?

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.

What is the maximum repayment tenure of a Personal Loan for a medical emergency?

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.

What are the late payment charges on a loan for a hospital treatment?

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.

What credit score is needed for a Medical Loan?

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.

How quickly can I get an emergency loan for medical treatment?

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.

What are the benefits of an emergency Medical Loan?

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.

What are the expenses covered by an emergency Medical Loan?

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.