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What Are The Documents Needed While Applying for A Personal Loan For Medical Emergency?

Published on Aug 18, 2023Updated on May 2, 2024

What Are The Documents Needed While Applying for A Personal Loan For Medical Emergency?

Life is unpredictable, and emergencies can happen at any time, leaving you in severe need of finances. One type of situation that frequently calls for instant financial assistance is one involving a medical emergency. The ever-rising expenses of medical treatment frequently push us beyond our capacity to pay for it, even though some of us may have saved money aside for unexpected events like this. When something like this happens, individuals often turn to personal loans. 

A loan for a medical emergency can be a financial lifeline, providing quick funding to pay various expenses such as hospitalization, surgery, medicine, and post-operative care. If you need to apply for a personal loan online to cover unexpected medical expenses, this article will walk you through the documentation that is required.

Documentation for a Personal Loan During Medical Emergency

The following is a list of the most important documents required for a personal loan amid a medical emergency:

  1. A Valid Proof of Identity: The lending institution will need legitimate proof of identity from you, which you can present in the form of documents like your Aadhaar Card, PAN Card, Voter ID, or Passport.
  2. Acceptable Proof of Residence: You will be required to present acceptable proof of your residential address. This may be your Aadhaar card, your driver's license, a recent bill for an essential service like energy or water, or even a rental agreement that's currently in effect.
  3. Documentation of Your Income: You'll need to provide documentation of your income in the form of your most recent two months' worth of pay stubs, account statements from the most recent three months that reflect your salary credit, and either Form 16 or your most recent year’s worth of income tax returns (ITR).
  4. Employment Proof: You will also be required to provide some kind of employment proof, such as your Employee ID card or a letter of employment confirmation from your employer.
  5. Photographs: In order to submit a full application, you will also be required to furnish images that are passport sized.

Beyond the above, further documents may be required on a case-by-case basis.

The Application Process

The process of applying for a personal loan is simple. The borrower has the option of either filing an application online or by filling out an application form at the lender's office.

The borrower would need to select the tenure and the amount of the loan that they want to borrow, and after that, the financial lender would verify the said documents and the amount required by the borrower. Based on the documents and other factors that are verified by the lender, the application will be processed, and the rate of interest will be presented to the borrower, which he/she can either accept or reject.

After loan approval, the amount would be transferred to the bank account of the borrower, who could then use the funds as per their requirements. Along with the transfer of funds and approval of the loan, the auto-deduction of EMI would also be set from the bank account of the borrower.

Factors Affecting Personal Loan Applications

The documents are an essential component of the application for the personal loan; nevertheless, the lender also takes into consideration other aspects, such as the applicant's credit score, existing obligations, and past repayment history.

If the applicant has high existing borrowing, or even in a case where the borrower has no borrowing in the past, which would render them without a credit history, there are chances for rejection of the loan. Apart from the credit history of the borrower, factors such as the borrower's income and their tax return history might also be verified in order to ensure that the borrower would be able to repay the loan.

Repayment of the loan is also verified through the repayment history of past loans as well as the repayment of the user's credit cards if he is holding them.


In times of medical emergencies, instant access to funds becomes a necessity. SMFG India Credit stands out as a reliable lending institution in such situations. Their efficient, streamlined loan application process has been designed with the customer's convenience in mind. What sets SMFG India Credit apart is their commitment to a 100% online application process, allowing you to apply for a loan from the comfort of your home. With quick loan approvals and flexible repayment tenures, the loan amount is swiftly transferred to your designated account within a maximum of 30 minutes* after loan approval. This rapid turnaround can make a critical difference in a medical emergency where every moment counts. 

SMFG India Credit can assist you in case of any medical emergency through its transparent policy and allow you to take care of yourself and your family without worrying about the immediate outlay. Don’t hesitate to get the best treatment for your family and Apply for a personal loan TODAY!

* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us

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