Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Medical Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    0 One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.70% - 11.70% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11% - 16.49% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.75% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Medical Loan is Rated as "Great!" by 77002 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

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    Personal Loan BYTES FROM OUR KITCHEN

    Medical loans

    Healthcare in these times is expensive and not everyone can afford to have a solid health insurance plan that protects them from all the medical uncertainties in life. It is at times like this medical personal loans come to rescue. Personal medical loans are Personal Loans that aim at offering cover for unseen medical expenses. These medical loans can be used to pay for medical expenses including hospitalisation bills, medical prescription bills, surgeries such as angioplasty, bypass surgery, chemotherapy and others similar treatments.

    Though health insurance is more popular than medical loans, not everyone can afford it. Medical loans can be used to pay up for any medical expenses while the cover offered by health insurance is limited. Another advantage of medical loan is that there is no need to pay collateral or deposit. A personal medical loan ensures that you get quality medical care with no delay.

    Medical loan eligibility criteria

    The general eligibility criteria for a medical loan is listed below.

    • Any salaried and self-employed individual Indian citizen
    • A pensioner who has taken voluntary retirement is also eligible
    • Most of the banks don’t require the individual to have a minimum salary.
    • No deposit
    • No collateral

    Documentation required for medical loans

    Listed below are the documents that need to be submitted to avail a medical personal loan.

    • Identification proof- Passport copy/Driving license/Pan card copy
    • Address proof- Passport/Voter Id/Ration card/Driving license/Recent electricity or telephone bills
    • Date of birth proof- Birth certificate
    • Passport size photograph
    • 3 latest salary pay slips
    • Form 16
    • Company appointment letter
    • Recent 3 months bank statements
    • Valid income documents (for self-employed individuals)
    • Proof of qualification

    Medical loan interest rates

    Medical personal loans offer two types of interest rates for the loans provided.

    1. Fixed interest rate- The fixed interest rate remains constant and doesn’t fluctuate over the tenure period. This is suitable for people with fixed budgets as it makes it easier for the loan repayment.
    2. Floating interest rate- The floating interest rate depends on the market economics. Floating interest rate fluctuates with the inflation and deficit in the market rate. Floating interest rate is usually lesser than the fixed interest rate given that it fluctuates.

    Features and benefits of Medical loans

    Listed below are the features and benefits of Medical loans

    • Affordable medical care
    • Quick loan approval
    • No security
    • No collateral
    • Loan can be repaid in installments
    • Loans are available for both salaried and self-employed individuals
    • Simple and minimal documentation
    • The loan money can be used for any sort of medical expense
    • Flexible tenures
    • Flexible interest rates- The loan offers Fixed and Floating interest rates
    • Loans up to Rs.25 lakh
    • Most of the medical loans can be bought online

    Benefit of Medical loans over health insurance

    Though health insurance is more popular and well known, medical loan has a few advantages over health insurance. Listed below are some of the ways that explain why medical loan is better than health insurance.

    • Quick approval- Medical loans are approved quicker than health insurance
    • Coverage- Health insurance has some restrictions when it comes to coverage. Most of the health insurance policies don’t cover critical illnesses and sexual related diseases. But medical loans can be used to cover any sort of medical expenses.
    • No waiting period- Health insurance policies have waiting period for certain ailments but with medical loans, the loan is granted immediately and can be used to fund for medical expenses. There is no waiting period for any ailment with medical loans.

    FAQs

    1. What category does medical loan fall under?

      Medical loan is a type of personal loan catering to finance medical expenses.

    2. Is there a need for deposit for medical loans?

      There is no need to make any deposit or down payment with a medical loan

    3. How will the interest rate and the loan term be decided?

      The interest and the tenure of the loan will be decided on the customer’s loan needs and their eligibility criteria.

    4. Can I still get a loan if I have an average credit history?

      There are medical loan plans for all kinds of credit histories.

    5. Who will the money be paid to?

      The money will be paid to the healthcare provider.

    6. Does the bank play a role in determining the type of treatment prescribed?

      No, the bank has no role in deciding what type of treatment should be provided.

    7. Does medical loan have any restrictions on any medical ailments?

      No, medical loan can be used to fund any kind of medical expense.

    8. Is there a waiting period for any medical ailment?

      There is no waiting period in medical loans.

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  • Medical Loan Reviews

    • Bank Bazaar Customer Support
      "GUIDANCE"
      0.5 5.0/5 "Blown Away!"
      This is the very first time I approached bankbazaar, also I am very much satisified with all their steps for searching for my product. It happens, some times where people would not be interested in doing online search, but here after gaining sufficient information I would recommend all my friends, relatives to give a try atleast once. My hearty thanks to the team Bankbazaar.com for providing their valuable time for their customers in a proper way. Hope they would get back to me with a favourable reply on time.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jul 20, 2017
    • SBI Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from State Bank of India and the process for it was smooth. I did not have much of a documentation process and also I did not get the loan on time. The rate of interest and processing charges were very much normal too. But on the other hand, after loan services were very much hassle free.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 20, 2017
    • Bank Bazaar Customer Support
      "Overall a good experience "
      0.5 3.0/5 "Satisfactory"
      The services rendered by bankbazaar is really great and I had a lot of follow up calls from them. The response was prompt from the moment I registered with them. It would have been better, if the companies whom they connect the customer too is also responsive. Lastly, the website is very much user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 20, 2017
    • Citibank Personal Loan
      "Not professional"
      0.5 1.0/5 "Really Bad"
      As a matter of fact, Citibank collected all my documents and after which they did not process my personal loan request and did not get back to me as well. It was not a very good experience as they were not very much professional. Not too sure on the interest rate and processing charges too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 20, 2017
    • Bank Bazaar Customer Support
      "I had got good response from bankbazaar on my loan applicati"
      0.5 2.5/5 "Just OK"
      I had got good response from bankbazaar on my loan application. I approached bankbazaar for my requirement and submitted my loan application on the website. On which they responded and provided a good service. Their website is good and it is easy to handle.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Amazing"
      0.5 4.0/5 "Great!"
      It was simple and straight forward experience. I really hope my application goes through. The staffs were really helpful. They kept calling me and following it up until I uploaded the documents. I've never seen such a simple online application so far. Thank you.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very smooth way to loans"
      0.5 5.0/5 "Blown Away!"
      I need personal loan & it seems easiest way to avail through Bankbazaar. Also I am feeling very much comfortable as the process is really quick. I wish good luck to everyone & recommend to go with Bankbazaar. Go with it to full fill yours all financial requirements through this site. Thanks.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 4.0/5 "Great!"
      I got very good response in concern to my personal loan application with bank bazaar. The customer service with bank bazaar is really good and very supportive. The website with bank bazaar is easy to use and user friendly. I am satisfied with the bank bazaar service.
      Was this review helpful? 0
      , konnagar
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The ICICI bank executives told that the private or public company employees are not eligible to get the loan, They are not interested to give the loan for the people those who own a company. The customer service and the response was average with ICICI bank. The rate if interest charged by them is higher than the normal one.
      Was this review helpful? 0
      , konnagar
      Reviewed on Jul 19, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The HDFC bank service is really good in concern to my personal loan. The customer service and the response was good with HDFC bank. The rate of interest is nominal with HDFC bank. I have choose the HDFC bank for my personal loan because of their low interest rate.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 4.0/5 "Great!"
      Bank bazaar maintains prompt follow up with the customers, because they will fix appointments and reaches the customer on appropriate time. The website with bank bazaar is easy to use and user friendly. The customer service and the response is very good with bank bazaar.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 19, 2017
    • Kotak Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I haven't proceeded with Kotak Mahindra bank because of their interest rate. I have chosen HDFC bank for my personal loan. The customer service and the response with Kotak Mahindra is good and supportive. The rate of interest is high with Kotak mahindra when compared with HDFC bank. I would say I got an average service from Kotak Mahindra.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I got immediate response from bank bazaar in concern to my personal loan application. The customer service and the response is really good with bank bazaar. The website with bank bazaar is easy to use and user friendly. I would say bank bazaar gives very good service to the customers.
      Was this review helpful? 0
      , bhimavaram
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      I haven't received any kind of calls from ICICI bank in concern to my personal loan application and I am not sure why they have closed my application. The customer service and there response part need to improved with ICICI bank. The rate of interest is nominal with ICICI.
      Was this review helpful? 0
      , bhimavaram
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The service provided by bank bazaar is quick and fast. The customer support and the response is really good with bank bazaar. The bank bazaar website is easy to use and user friendly. I get to know about bank bazaar through google web search. I am with bank bazaar for past 6 months. I am satisfied with bank bazaar service.
      Was this review helpful? 0
      , ankleshwar
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      ICICI executive gave a call and explained me about the product very clearly and helped me to know about the product briefly . The customer service and the response is very good with ICICI bank. The rate of interest is nominal with ICICI bank. I am happy about the ICICI bank service.
      Was this review helpful? 0
      , ankleshwar
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I am with bank bazaar for past more than year. I get to know about bank bazaar through online web search . The customer service and response with bank bazaar is really good. The web site with bank bazaar is easy to use and customer friendly. I am satisfied with the bank bazaar service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Need improvement"
      0.5 3.0/5 "Satisfactory"
      I have applied credit card personal loan twice with ICICI bank, but there was no response in concern to my applications. The customer service and the response is average with ICICI bank. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • SBI Personal Loan
      "Improvement needed in service"
      0.5 5.0/5 "Blown Away!"
      The personal loan process need to be quick and fast with SBI. The customer service and the response need to be focused a lot. They are talking too much of time to disburse the personal loan. They took around 10 to 15 days of time to disburse my loan and they call it as express in disbursing the loan. As I hold a salary account with SBI they have offered me with low interest rate.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 4.0/5 "Great!"
      The response is really good with bank bazaar executives . The customer service and the follow up with bank bazaar is really good. I got to know about bank bazaar through online web search. I am with bank bazaar for past 2 months. The website with bank bazaar is easy to use and user friendly, I am satisfied with bank bazaar service.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
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