Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

When facing a medical emergency, time is of the essence, which is why SMFG India Credit's Personal Loan options with swift online application process ensure quick access to funds when needed most. Moreover, the attractive interest rates offered by SMFG India Credit 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 SMFG India Credit's Personal Loan options an excellent choice for individuals seeking financial assistance during medical emergencies.

Features And Benefits

Instant Online Approval class=

Instant Online Approval

Check your eligibility, fill a form online, upload your documents and get instant approval!

Online Account Access

Online Account Access

Get your medical emergency loan details at your fingertips through our customised portal.

Icon Money Disbursed

Money disbursed in 24 hours*

Get the money in your bank account within 24 hours* after your medical emergency loan is approved and documents are verified.

Icon Affordable Interest Rates

Affordable Interest Rates

Attractive interest rates - as low as 11.99% onwards*.

Icon Loan Upto

Loan upto Rs. 25 Lakhs*

Instant loans up to Rs. 25 Lakhs* to fulfil your commitments.

Icon No Collaterals

No collateral required*

Get your medical emergency loan without providing any collateral*

*Terms and Conditions Apply

Medical Loan Eligibility Criteria

The Eligibility Criteria for a Medical Emergency Loan is as follows:

  • The age requirement is 21 to 65 years.
  • For salaried individuals: Employment history must be a minimum of 2 years of work experience, with at least 1 year with the current employer.
  • For self-employed individuals, the minimum specified income (varies by location) is required. The submission of financial documents demonstrating income stability may be necessary.
  • For salaried individuals, the minimum income must be Rs. 20,000 per month and for individuals residing in Delhi or Mumbai, the minimum income must be Rs. 25,000 per month.

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

11.99%* per annum onwards

Processing Fee

Up to 3% of loan amount

Loan Tenure

Up to 60 months

Lowest EMI Per Lakh

Rs. 2,275 for 60 months

Prepayment Charges

0% to 7%*

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 the 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.

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

Step 1: Click here. 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.

Things to Consider When Applying for a Personal Loan for Medical Emergencies

Key Considerations for Applying for a Personal Loan for Medical Emergencies:

  1. Disbursal Time: Opt for a lender with quick disbursal time such as SMFG India Credit, ensuring that funds are disbursed within 30 minutes* to address urgent medical needs effectively.
  2. Interest Rate: Research and compare interest rates among lenders to secure a personal loan with the most favourable terms.
  3. Processing Fees: Before applying, inquire about the processing fees associated with the loan to make an informed decision.
  4. Customizable EMIs: Look for lenders SMFG India Credit that offer flexibility in customizing your Equated Monthly Installments (EMIs), enabling better financial management.
  5. Credit Score: Assess your credit score beforehand. Applying for a personal loan with a low score may adversely affect it further. Take steps to improve your score if needed before proceeding with the application.

* 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.

12 Months60 Months

Your Calculated EMI*



What are the uses of emergency loans?

Emergency loans play a crucial role in providing financial relief during unexpected and pressing situations. Their utility extends across various scenarios, serving as a lifeline for individuals facing unforeseen challenges. Whether it's covering sudden medical expenses, addressing urgent home repairs, or navigating through abrupt financial crises, the versatility of emergency loans ensures they can be applied to a spectrum of needs. This financial flexibility empowers borrowers to manage immediate concerns, making emergency loans a resilient solution for the unpredictable nature of life's financial exigencies.

How much time does it take to get an emergency loan approved?

The approval time for emergency loans is an important factor, especially when time sensitivity is paramount. The duration varies across different lenders, with some institutions offering expeditious approval within a single day, while others may take several business days to process applications. With SMFG India Credit, the loan amount will be disbursed into your account within 24 hours* or 1 working day of approval. Hence, the selection of a lender with a swift approval mechanism becomes instrumental, ensuring that individuals can promptly address and alleviate the financial stress associated with emergent situations.

How much loan amount can I take for an emergency loan

The determination of the loan amount for emergency loans involves a meticulous evaluation of various factors. Lenders consider an individual's income, credit history, and specific criteria to ascertain the most suitable amount. This can range from a modest sum to a more substantial figure, depending on the borrower's financial capacity. The objective is to provide an amount that adequately addresses the immediate emergency requirements while aligning with the borrower's ability to manage the ensuing repayment responsibilities.

What are the terms of a personal loan for medical emergencies?

Personal loans tailored for medical emergencies come bundled with a range of terms that necessitate careful consideration. These terms encompass elements such as interest rates, repayment periods, and associated fees. A comprehensive review of the Annual Percentage Rate (APR) ensures an understanding of the overall cost while scrutinizing fees and the proposed repayment schedule, which is crucial for making an informed decision. The terms of the personal loan play a pivotal role in shaping the financial impact on the borrower and determining the feasibility of incorporating it into their overall financial plan.

Can I utilise a personal loan to pay for hospital bills, surgery, or medical treatments?

Personal loans serve as a versatile financial instrument, allowing individuals to cover a spectrum of medical expenses seamlessly. Whether it's hospital bills, surgeries, or other critical treatments, the flexibility of personal loans facilitates the immediate addressing of healthcare needs. This adaptability is especially beneficial during medical emergencies, providing individuals with the financial means to access timely and necessary medical services. However, it is imperative to not only recognize the utility but also to thoroughly evaluate the loan terms, ensuring that the chosen financial solution aligns with the borrower's financial capabilities and long-term objectives.

What are the consequences of not making personal loan payments for a medical emergency?

The consequences of missing payments on a personal loan earmarked for medical emergencies can have far-reaching implications. Beyond the immediate impact of incurring late fees, borrowers may find themselves subject to heightened interest rates, exacerbating the financial burden. Additionally, a negative impact on credit scores can impede future financial endeavours. Therefore, a proactive approach to timely repayments is imperative, not only for mitigating immediate financial strain but also for safeguarding one's long-term financial health.

Is collateral required to apply for a Personal Loan for medical emergencies?

Personal loans designed for medical emergencies typically fall into the category of unsecured loans, alleviating the need for collateral. Lenders predominantly assess eligibility based on factors such as creditworthiness, income, and overall financial standing. The absence of collateral not only expedites the loan application process but also makes these loans more accessible to a broader spectrum of individuals facing urgent medical expenses. This unsecured nature enhances the speed and efficiency of financial assistance, ensuring that individuals can navigate medical emergencies without the need of pledging assets.

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