How to avail Medical Loan by TATA Capital?
Your financial situation and mental health may suffer if a member of your family experiences a medical emergency. In such a circumstance, finding funding can be difficult. This is why we created a simple and practical medical loan, a personal loan for an unexpected medical expense. All dental, medical, and cosmetic procedures are covered by our loan.
You may avoid financial hardship with Tata Capital’s Medical Loan thanks to its low interest rates and individualized repayment plans. You can acquire the greatest medical care for yourself or a loved one without worrying about hefty expenditures by applying for loans for surgery up to 35 lakhs. Take advantage of a simple loan from Tata Capital and concentrate on the health and happiness of your loved ones.
Medial Loan Advantages
Instant Approval – A medical emergency needs instant cash. We provide instant approval on your application, once your documents are with us.
Care Now Repay Later – We provide flexibility to you in deciding the repayment options, loan amount, and tenure.
Minimal Paperwork – When you face any medical exigency, the last thing you want is to file paperwork to raise funds. Our medical loans are hassle and stress-free.
No Collateral – You can count on us during your tough times. No collateral or security is needed for a Medical Loan
What are the basic requirements for getting your Medical Loan approved?
We’ve made sure that getting a Medical Loan is simple and quick. For a swift approval for your application:
- Keep your personal details handy including your PAN number, Aadhaar Number, CIBIL score
- Provide copies of your payslips, address proof, and bank statements
- Check Eligibility and Documents for more details
Application process for Medical Loan:
1. Online Application
You can apply for a medical loan by just filling up your basic details.
2. Document Submission
Post meeting the eligibility, furnish the required documents to take your application ahead.
3. Verification
We will verify your application and submitted the documents.
4. Approval
Post approval, the loan is sanctioned.
5. Disbursal
Receive the required amount in your bank account – it’s that simple!
Benefits of choosing Medical Loan:
Instant online approval
You can check your eligibility within minutes by filling out an online form. And post verification you will get instant medical loan approval.
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Flexibility
Borrow when you need money and prepay when you can with our Flexi EMI plans.
Minimum Paperwork
Submit just a few documents with your application and get your medical loan sanctioned instantly.
No Collateral
You can count on us during your tough times. No collateral or security is needed for a Medical Loan.
Competitive interest rates
Our interest rates are competitive and affordable; we offer rates and plans that benefit you the most.
Medical Emergency Loan by HDFC Bank
An unexpected financial crunch or an urgent need for money could put you in a precarious situation. A need for an emergency loan may arise in such circumstances. In essence, an emergency loan is a personal loan that can be used to pay for unexpected, urgent needs. You can utilise the cash to deal with any form of personal emergency, like unpaid medical bills, college costs, a cash shortage during wedding preparations, or anything else that might call for extra money. You may deal with any unexpected expense with an emergency loan from HDFC Bank without having to sell off your current assets or interests. Furthermore, the bank offers reasonable interest rates on such emergency Personal Loans, and you can acquire everything mentioned above without having to put up any security.
Flexible tenure, considerable loan amount:
A personal emergency loan from HDFC Bank comes with flexible repayment tenures of 1-5 years. And you can get an amount of anywhere between Rs. 50,000 to Rs. 40 lakhs, which can help you meet your financial needs in case of a personal emergency.
Quick and easy disbursal:
You can get an urgent personal loan to cater to an emergency, as HDFC Bank approves such loans almost instantly and disbursal takes place within one working day from the time of document submission.
No end-use restriction:
You can use an emergency personal loan to fund any urgent expenses, medical or otherwise.
Easy repayment in monthly instalments:
With the option to plan your EMIs and loan tenure based on your monthly income, there is little pressure to repay immediately. With loan tenures of 12-60 months, affordable EMIs make it easy on your pocket.
Minimal documentation:
Getting a medical loan or a personal emergency loan from HDFC Bank is a stress-free and hassle-free option, as the process involves minimal paperwork. You can always choose to apply online, and if you are a pre-approved HDFC Bank customer, the bank may not even ask for additional documents.
Also Read – How to apply for an IPO
Eligibility:
- Salaried employees at select private limited companies and public sector undertakings (including central, state and local bodies)
- Must be between 21 years and 60 years of age
- Must have had a job for at least 2 years, with a minimum of 1 year with the current employer.
- For self-employed: Applicants must have a specified minimum income (may vary with location). Financial documents to show stability of income may also be required by the bank.
- For an HDFC Bank Salary Account holder: must have a minimum net monthly income of Rs. 25,000.
- For a non-HDFC Bank Salary Account holder: must have a minimum net monthly income of Rs. 50,000
*Government taxes and other levies as applicable will be charged over and above the Fee and Charges. Loan disbursal is at the sole discretion of HDFC Bank Ltd.
Documents:
- Identity proof (copy of passport/voter ID card/driving license/Aadhaar)
- Address proof (copy of passport/voter ID card/driving license/Aadhaar)
- Bank statement for the previous 3 months (Passbook for previous 6 months)
- Two latest salary slips/current dated salary certificate with the latest Form 16
Proof of end use
Interest Rates & Charges:
Rate of Interest – 10.50 % to 25.00%
Processing Fees – Up to 4999 + GST
Tenure – 03 Months to 72 Months
Documents Required – No Documents for Pre-approved Personal Loan
                                       For Non-Pre-approved – Last 3 Months Bank statements, 2 Latest Salary Slip and KYC
