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Medical Loan

A medical emergency incurs a heavy expenditure inclusive of the treatment, medicines, surgery and post care procedures, if required. This blow of collating emergency funds for a salaried individual is a difficult task. Balancing the daily expenses along with heavy medical bills is a daunting experience. During such nerve wracking instances, where one falls in a tight financial situation, a personal loan for medical use is a saviour that can help you to generate quick money in less time.

Get a speedy emergency loan through your smart phone for paying off medical bills. Your smart phone is an easy source to get through instant cash loan app and websites. Simply Cash is a reliable personal loan app that can be your financial support in times of medical emergencies. You can avail a loan up to 1,50,000 in 24 hours via the Simply Cash app, launched by a trustworthy financial firm in India – Hero FinCorp.

Breaking your savings, asking a relative, selling jewellery, mortgaging a vehicle etc. have taken a backseat when financial help is required. In times of urgency, personal loan works faster and can be applied from the convenience of your location. Consider the personal loan app features to know why you should apply for medical loans online.

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Features and Benefits of Medical Loan

Here are some of the advantages to get medical loan from an instant loan app:

Quick loan approvals

Medical emergency can’t wait. The funds have to be arranged immediately. Instant personal loan apps sanction disbursal of loan amount within a few hours directly into your account in contrast to personal loan offline takes weeks to approve the loan amount.

No physical documentation

Another significant reason to get a medical loan via instant loan app is the paperless documentation procedure that does not require any kind of paper work. The minimal required documentation is uploaded on the preferred instant loan app and processed in real time for instant approval

Flexible repayment option

Borrowers can select the date and tenure for EMI payments. Flexible repayment option encourages you to borrow more since the loan repayment becomes convenient.

Loan EMI calculator

EMI calculator is an in-built feature in the instant loan apps. It gives the flexibility to decide the loan amount, tenure and interest rate as per your repayment ability.

How to Apply for Medical Loan Online Through Simply Cash

Download Simply Cash freely from Google Play Store and begin with the online medical loan process:

How to Apply for Education Loan
  • Register your mobile number linked to Aadhaar card or enter email ID to receive an OTP number for verification.

  • Enter your Aadhar card number or smart card driving license

  • Select the loan amount and tenure through loan EMI calculator

  • Lastly, fill in your personal, financial and occupational details through digitized KYC documents, verified in real time

  • Out of the listed banks, select your bank and enter account details in which you want the loan amount to get disbursed.

Eligibility Criteria and Documents for Medical Loan Approval

It becomes essential that you should fall under the eligibility criteria while taking a medical loan from any lender. The financial institutions make eligibility criteria mandatory for the simple reason that they do not want to take any risk of delayed payment or any kind of frauds.

  • 1

    Age criteria: Applicant should be between 21-58 years

  • 2

    Minimum monthly income for salaried: Applicant should at least earn a minimum amount of Rs.15,000 monthly

  • 3

    Minimum monthly income for self-employed: Minimum earning should be Rs.15,000 monthly and six months bank statement is compulsory

  • 4

    Income proof: 6 months bank statement of salaried or personal account

  • 5

    Aadhar card is the first document when applying for instant personal loan

  • 6

    In the absence of Aadhar card, you can provide your Pan card/ driving license

  • 7

    Other important documents include your professional and financial details inclusive of salary slips and income statements

  • 8

    Your account should be in any of the accepted banks as suggested by the financial institution

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Accepted Banks:

ICICI BANK LTD HDFC BANK LTD AXIS BANK IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK

EQUITAS SMALL FINANCE BANK LTD KOTAK MAHINDRA BANK LTD IDFC FIRST BANK LTD UJJIVAN SMALL FINANCE BANK LTD BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK RBL BANK LTD BANK OF MAHARASHTRA DEUTSCHE BANK AG PAYTM PAYMENTS BANK LTD CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD AU SMALL FINANCE BANK LTD CITI BANK BANDHAN BANK DHANALAXMI BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK JANA SMALL FINANCE BANK LTD UCO BANK

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