Medical Loans

Medical Loan Eligibility Criteria

To avail a personal loan for medical emergency, you must be a resident citizen of India, between the ages of 21 years and 60 years. If you are a salaried employee, your income should be at least ₹20,000 per month (₹25,000 per month for residents of Mumbai and Delhi). For self-employed professionals, a minimum annual profit after tax is applicable instead. Please click here to know more about personal loan eligibility.

Medical Loan Interest Rate

A personal loan for a medical emergency is offered at interest rates starting from 11.99%* per annum. The interest rate charged depends upon your credit score, your requirement, your existing relationship with us, the total loan amount and tenure, and the nature of your employment. Processing fee of up to 3% of the loan amount is also applicable.

Personal Loan Interest Rate in India - Dec 2023

Documents Required for Medical Loan

Documents required for personal loans include:

• PAN Card
• KYC documents such as driving license, Aadhaar card, and voter ID card
• Employment proofs
• Last 2 months’ salary slips (for salaried) or income proof (in you have an independent practice)
• Last 3 months’ bank account statements of your salary account (for salaried) or current account (in you have an independent practice)

For more details, check our documentation for personal loans page.

How to Apply for Medical Emergency Loan

We understand that time is of the essence when facing an emergency. This is why we have designed the application process of personal loan for a medical emergency to be as simple as possible.

To start the application process, click on the Apply Now button and provide your personal, financial and employment information. Next, select the loan amount and tenure to get instant approval online. Our representative will get in touch with you to collect the required documents, and the loan amount will be disbursed within 24 hours depending upon all the documents being successfully verified.

Here are the steps for an instant personal loan application with SMFG India Credit:

• Step 1: Click on Apply Now on the top right of this page. Perform OTP verification of your mobile number
• Step 2: Fill in personal, employment, income and bank details
• Step 3: Select the loan amount and tenure that you require
• Step 4: Upload documents as requested
• Step 5: Submit.
• Step 6: Within a minute, you will be informed if your loan application will be taken up for further processing. If yes, you will be provided with a tracking number.
• Step 7: Our representative will get in touch with you for any additional information/verification.
• Step 8: Post verification of all information and documents, you will be provided with an offer. Upon acceptance, your loan will be sanctioned.
• Step 9: Amount is disbursed to your bank account.