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Medical loan options have become increasingly essential as rising healthcare costs often make it difficult for many to manage unexpected medical expenses. While health insurance may offer partial relief, it doesn’t always cover every expense, especially in urgent cases where funds are needed immediately. In such situations, a medical emergency loan can provide critical financial support, allowing individuals to focus on treatment and recovery rather than worrying about medical bills.
SMFG India Credit offers a personal loan for medical emergencies with a fast and simple online application process, ensuring quick access to funds when you need them the most. Moreover, competitive medical loan interest rates help make borrowing more affordable, while the flexible tenure options allow borrowers to choose a repayment schedule that suits their financial situation. This combination of convenience, affordability, and flexibility makes our personal loan options an excellent choice for individuals seeking financial assistance during medical emergencies.
*Terms and Conditions Apply
The eligibility criteria for an emergency loan for medical needs are as follows:
**Given above are the basic eligibility criteria. The final eligibility will be determined by several parameters, including the SMFG India Credit’s policy at the time of loan application.
Documents required to apply for a medical loan include:
| Document Type | Salaried Individuals | Self-Employed Individuals |
| PAN Card | PAN card/Form 60 of the applicant and the co-applicant (if applicable) | PAN card/Form 60 of the applicant and the co-applicant (if applicable) |
| Identity Proof (any one) | ● PAN Card ● Aadhaar Card ● Driver’s Licence ● Passport ● Voter ID | ● PAN Card ● Aadhaar Card ● Driver’s Licence ● Passport ● Voter ID |
| Signature Proof (any one) | ● Passport ● PAN Card | ● Passport ● PAN Card |
| Address Proof (any one) | ● Aadhaar Card ● Driver’s Licence ● Passport Copy ● Utility Bill - Gas or Electricity Bill ● Voter ID ● Ration Card ● Rental Agreement | ● Aadhaar Card ● Driver’s Licence ● Passport Copy ● Utility Bill - Gas or Electricity Bill ● Voter ID ● Ration Card ● Rental Agreement |
| Bank Statements | Latest Bank Statements for the last 6 months | Latest Bank Statements for the last 6 months |
| Income Documents | ● Salary slips for the last 3 months ● Income Tax Returns OR Form 16 | ● Balance sheet and profit and loss account, income computation for the last 2 years ● Income Tax Returns for the last 2 years ● IT Assessment OR Clearance certificate ● Income Tax challans OR TDS certificate (Form 16A) OR Form 26AS for income declared in ITR |
| Proof of Business Continuation (any one) | ● NA | ● Licence ● Registration Certificate ● GST Number |
For more details, check our documentation for the personal loans page.
*SMFG India Credit may request additional documents depending on your profile and internal policies. It is recommended to have all required documents ready to ensure a smooth application process.
At SMFG India Credit, we aim to offer the most favourable personal loan interest rates, so that you can meet your financial needs during a medical emergency while keeping the cost of borrowing at a minimum. The medical loan interest rates are determined based on several factors such as your credit score, your requirements, your existing relationship with us, the total loan amount and tenure, and the nature of your employment.
Additionally, some additional charges, such as processing fees and prepayment charges, are applicable, which are nominal. A detailed breakdown of these charges will be provided in the personal healthcare loan agreement.
| Fee Type | Applicable Charges |
| Personal Loan Interest Rate | Starting at 13%* per annum onwards |
| Processing Fee | Up to 3.75% of the total loan amount + GST |
| Loan Tenure | Up to 60 months |
| Lowest EMI Per Month | Starting from INR 1,138* for 60 months |
| Prepayment Charges | 0% to 7%* |
We understand that time is of the essence when facing an emergency. This is why we have designed the application process of a personal loan for a medical emergency to be as simple as possible.
Here are the steps for an instant personal loan application with SMFG India Credit:
Provide necessary personal details such as mobile number, PAN, pincode, and employment status (salaried or self-employed).
Validate your mobile number with a 6-digit OTP sent to your phone.
Submit your email address, date of birth, gender, and annual household income. Don’t forget to verify your email ID as well.
Provide employment-related details if you're a salaried applicant.
You can share your bank statement via Net Banking, an Account Aggregator, or by uploading the same. Based on your submitted details, we’ll generate a loan offer (only for salaried individuals).
Complete the identity verification process by taking a selfie and submitting address details through well-known methods such as CKYC, Offline Aadhaar XML-based KYC, or DigiLocker.
Enter your banking account details for us to verify.
Once your bank account is successfully verified, head to the ‘Additional Details’ section where you need to provide details such as the loan purpose and marital status.
Choose your preferred re-payment method (debit card or internet banking), and set up E-NACH.
Digitally sign your loan agreement after a careful review and validate the same with an OTP.
These quick and easy steps ensure that applying for a medical loan is hassle-free.
When a medical crisis strikes, quick access to funds can make all the difference. Whether it's for hospitalisation, surgery, post-operative care, or emergency treatment, a medical loan from SMFG India Credit offers the support you need, without the stress. With our simplified application process, competitive medical loan interest rates, and fast disbursal, you can focus on what truly matters: recovery. Apply now for a medical emergency loan or visit your nearest branch for dedicated assistance.
* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.