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How to Arrange Finance for Cosmetic Surgery in India?

Published on Oct 9, 2020Updated on Feb 16, 2024

How to Arrange Finance for Cosmetic Surgery in India?

Isn't it empowering to control every aspect of our lives right from what we wear to how we look? A good percentage of people spend significant amounts of time in maintaining and enhancing their looks.

What is Cosmetic Surgery?

Plastic surgery is a specialty that lays emphasis on the reconstruction, construction, alteration of any part/parts of the body to rectify issues or significantly change the way one looks. Plastic surgery can help in significantly improving the quality of life of the patient and help in improving their self-esteem. 

Plastic surgery can be broadly classified into reconstructive and cosmetic. The popular surgeries opted for by men and women are as follows:

  • Plastic Surgery for Men
    Over the years there has been an increase in the number of men opting for plastic surgery to improve their aesthetic appearance. Men have started opting for surgeries like liposuction and lipoplasty to remove excess fat and to highlight their natural features. Approximately 85% of men experience hair fall due to various reasons before the age of 50. Several men opt for hair transplant finance to undergo hair transplant to regain a crop of hair.
  • Plastic Surgery for Women
    Common plastic surgeries opted for by women include breast enlargement, liposuction, hair transplant, etc. 

Sometimes, these surgeries may be extremely important, especially in cases where a tragic incident may have left a person badly disfigured. This is especially in the case of burn victims or victims of terrible accidents. In some cases, these surgeries are purely cosmetic in nature and are meant to enhance the looks of the individual as per their choice. In either case, the resulting surgery can be extremely expensive and in most cases isn't covered by insurance unless the surgery is deemed a medical requirement. So how to finance plastic surgery without burning a hole in your pocket? While loan providers do not provide loans exclusively for cosmetic surgery, however, you could choose to opt for an instant personal loan for the same. 

Must Read: How to Get a Personal Loan Using Aadhar Card & PAN Card

What is the Approximate Cost of Plastic Surgery in India?

According to a survey conducted by the International Society of Aesthetic Plastic Surgery, India ranks among the top five countries in the world for patients opting for surgery to enhance their features. India is a popular med tourism destination for its affordable, yet high-quality healthcare treatments. The approximate plastic surgery cost in India depends on many factors like the surgeon's fees, hospital charges, follow-up appointment costs, etc.

What is the Personal Loan Eligibility Criteria?

  • The borrower should be an employee of a public or a private enterprise with a minimum turnover as per the lending company’s policies.
  • The borrower must earn a minimum of Rs. 25,000 in Mumbai and Delhi and Rs. 20,000 in other places all over India.
  • They should be between 21 - 60 years of age.
  • The borrower should have work experience of at least 1 year and should have worked for a minimum of 6 months in the current organization.
  • A healthy CIBIL score of 750 and above improves the chances of obtaining a loan.

A personal loan eligibility calculator can help you calculate the loan amount you can borrow.

Documents Required to be Furnished while Applying for a Personal Loan:

  • PAN Card and valid ID proof
  • Income proof case of self-employed professionals and salary statements of the past 3 months for salaried individuals.
  • Previous 6 months bank statements.
  • Address proof that includes Aadhaar card, voter ID and driving license.
  • A copy of Form 16.

Please note that this list of personal loan documents is indicative, depending on the applicant’s profile and the lender’s policy, additional documents may be requested.

What are the Advantages of opting for a Personal Loan to find your Cosmetic Surgery?

This is why you should consider opting for a loan to fund your cosmetic surgery:

  1. Loans to Suit your Requirements 
    Financial institutions do not always have tailor-made loan products to suit your requirements. This is where personal loan steps in. Personal loans are an excellent option for planned and certain unexpected expenses. The purpose for which the loan is used is not restricted, subject to certain terms and conditions. 
  2. Loans up to INR 25 Lakhs*
    Borrowers may be eligible to apply for loans up to INR 25 lakhs* depending on their eligibility and the lender’s policy. Thus, a personal loan becomes an ideal option for cosmetic surgery procedures. Your eligibility varies according to different factors like your age, income, credit score etc.
  3. Attractive Rates of Interest
    The rates of interest of personal loan are attractive and range between 11.99% to 36% for salaried and self-employed professionals. A Processing fee of 0-6% may also be applicable to the loan amount, which will be deducted before transferring the balance funds upon loan approval.     .     
  4. Hassle-Free Application Process and Quick Disbursal
    While applying for the loan, if you choose to go the paperless way, you can log into the website, fill in the required details, and complete the simple, hassle-free application procedure. The funds are credited to the applicant’s account post within 24 hours of document verification and loan approval.
Must Read: How to Apply for a Personal Loan Online

With financial constraints taken care of by your provider, you now have the option of taking the cosmetic surgery route. Do note, however, that such procedures should ideally be undertaken only upon the recommendation of a qualified surgeon so as to ensure that your health doesn’t get impacted in the process.

* 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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