Written by:
Aathira Ayyappan
Free Crowdfunding for India | #1 Fundraising website in India | Milaap
Instant Access To Funds: NBFCs That Provide Timely Medical Loans For Treatment
Instant Access To Funds: NBFCs That Provide Timely Medical Loans For Treatment
With quick loan processing, flexible repayment options, and minimal documentation, NBFCs are becoming a go-to choice for those facing healthcare expenses.
With quick loan processing, flexible repayment options, and minimal documentation, NBFCs are becoming a go-to choice for those facing healthcare expenses.
Published on: 3 March, 2023
Published on: 3 March, 2023
In India, Non-Banking Financial Companies (NBFCs) have emerged as a crucial source of financial support for individuals seeking medical treatment. With the rising costs of healthcare, medical loans provided by NBFCs have become a lifeline for many, offering much-needed funds to cover expenses related to surgeries, treatments, and hospitalization.
As the demand for affordable medical financing grows, NBFCs play a pivotal role in ensuring that healthcare remains accessible to all, making a significant impact on the lives of patients and their families across the country. Here are some NBFCs you can consider for timely medical loans for treatment:
1. Bajaj Finserv
Who is eligible?
Loan amount
Repayment options
Interest rates
Details required
Documents required
Read more
Who is eligible?
Indian citizens, in the age range of 21 to 80 years, who have full-time employment in a private, public or MNC firm, with a monthly salary of INR 25,001 and higher. They should also have a minimum CIBIL score of 685.
Loan amount
Bajaj Finserv offers medical loans ranging from INR 50,000 to INR 25 lakhs, depending on your eligibility.
Repayment options
They provide flexible repayment options ranging from 6 to 96 months.
Interest rates
From 13% to 36% per annum
Details required
CIBIL score
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips
- Address proof
- Bank statements
Read more
Go to website.
2. Tata Capital
Who is eligible?
Loan amount
Repayment options
Interest rates
Details required
Documents required
Read more
Who is eligible?
- Those who are salaried persons
- Those whose age falls between 21 years to 58 years
- Those who have a stable employment status for the past one year
- Those who have worked in the same organisation for the past six months
- Those with a minimum salary of Rs. 20,000
Loan amount
Tata Capital offers medical loans starting from INR 75,000 up to INR 35 lakhs
Repayment options
They provide flexible repayment options with tenure ranging from 12 to 72 months.
Interest rates
From 10.99% per annum
Details required
CIBIL score
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips
- Address proof
- Bank statements
Read more
Go to website.
3. Fullerton India
Who is eligible?
Loan amount
Repayment options
Interest rates
Documents required
Read more
Who is eligible?
You must be a resident of India, between the ages of 21 and 60.
If you are a salaried employee, your income must be at least INR 20,000 per month (25,000 in the case of Delhi and Mumbai).
For self-employed professionals, there should be a minimum profit earned after tax, which will be analysed on a case-by-case basis.
Loan amount
Capital First provides medical loans starting from INR 20,000 up to INR 1 crore
Repayment options
They provide flexible repayment options up to 60 months
Interest rates
From 11.99% per annum
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips
- Employment Proofs
- Bank statements
Read more
Go to website.
4. Capital First (IDFC First Bank)
Who is eligible?
Loan amount
Repayment options
Interest rates
Documents required
Read more
Who is eligible?
For self-employed individuals:
- The business must have been in existence for a minimum period of 3 years
- Minimum Age: 25 years
- Maximum Age: 65 years at the time of loan maturity
For salaried individuals:
- Minimum Age: 23 years
- Maximum Age: at the time of loan maturity – 60 years or retirement, whichever comes first
- Minimum monthly salary: ₹20,000 per month (barring Mumbai and Delhi residents)
Loan amount
Tata Capital offers medical loans starting from INR 75,000 up to INR 35 lakhs
Repayment options
They provide flexible repayment options with tenure ranging from 12 to 72 months.
Interest rates
From 10.49% per annum
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips
- Employment proofs
- Bank statements
- Net banking / Debit Card details
Read more
Go to website.
5. Hero FinCorp
Who is eligible?
Loan amount
Repayment options
Interest rates
Documents required
Read more
Who is eligible?
- Applicant should be between 21-58 years
- Minimum monthly income for salaried: Applicant should at least earn a minimum amount of Rs.15,000 monthly
- Minimum monthly income for self-employed: Minimum earning should be Rs.15,000 monthly and six months bank statement is compulsory
Loan amount
Hero FinCorp offers medical loans starting from INR 15,000 up to INR 1.5 lakhs based on your eligibility.
Repayment options
Borrowers can select the date and tenure for EMI payments
Interest rates
The interest rates offered by Hero FinCorp depend on factors such as loan amount, organisation type, job stability and location.
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips of last 6 months
- Recent bank statements
- Net banking / Debit Card details
Read more
Go to website.
In India, Non-Banking Financial Companies (NBFCs) have emerged as a crucial source of financial support for individuals seeking medical treatment. With the rising costs of healthcare, medical loans provided by NBFCs have become a lifeline for many, offering much-needed funds to cover expenses related to surgeries, treatments, and hospitalization.
As the demand for affordable medical financing grows, NBFCs play a pivotal role in ensuring that healthcare remains accessible to all, making a significant impact on the lives of patients and their families across the country. Here are some NBFCs you can consider for timely medical loans for treatment:
1. Bajaj Finserv
Who is eligible?
Loan amount
Repayment options
Interest rates
Details required
Documents required
Read more
Who is eligible?
Indian citizens, in the age range of 21 to 80 years, who have full-time employment in a private, public or MNC firm, with a monthly salary of INR 25,001 and higher. They should also have a minimum CIBIL score of 685.
Loan amount
Bajaj Finserv offers medical loans ranging from INR 50,000 to INR 25 lakhs, depending on your eligibility.
Repayment options
They provide flexible repayment options ranging from 6 to 96 months.
Interest rates
From 13% to 36% per annum
Details required
CIBIL score
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips
- Address proof
- Bank statements
Read more
Go to website.
2. Tata Capital
Who is eligible?
Loan amount
Repayment options
Interest rates
Details required
Documents required
Read more
Who is eligible?
- Those who are salaried persons
- Those whose age falls between 21 years to 58 years
- Those who have a stable employment status for the past one year
- Those who have worked in the same organisation for the past six months
- Those with a minimum salary of Rs. 20,000
Loan amount
Tata Capital offers medical loans starting from INR 75,000 up to INR 35 lakhs
Repayment options
They provide flexible repayment options with tenure ranging from 12 to 72 months.
Interest rates
From 10.99% per annum
Details required
CIBIL score
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips
- Address proof
- Bank statements
Read more
Go to website.
3. Fullerton India
Who is eligible?
Loan amount
Repayment options
Interest rates
Documents required
Read more
Who is eligible?
You must be a resident of India, between the ages of 21 and 60.
If you are a salaried employee, your income must be at least INR 20,000 per month (25,000 in the case of Delhi and Mumbai).
For self-employed professionals, there should be a minimum profit earned after tax, which will be analysed on a case-by-case basis.
Loan amount
Capital First provides medical loans starting from INR 20,000 up to INR 1 crore
Repayment options
They provide flexible repayment options up to 60 months
Interest rates
From 11.99% per annum
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips
- Employment Proofs
- Bank statements
Read more
Go to website.
4. Capital First (IDFC First Bank)
Who is eligible?
Loan amount
Repayment options
Interest rates
Documents required
Read more
Who is eligible?
For self-employed individuals:
- The business must have been in existence for a minimum period of 3 years
- Minimum Age: 25 years
- Maximum Age: 65 years at the time of loan maturity
For salaried individuals:
- Minimum Age: 23 years
- Maximum Age: at the time of loan maturity – 60 years or retirement, whichever comes first
- Minimum monthly salary: ₹20,000 per month (barring Mumbai and Delhi residents)
Loan amount
Tata Capital offers medical loans starting from INR 75,000 up to INR 35 lakhs
Repayment options
They provide flexible repayment options with tenure ranging from 12 to 72 months.
Interest rates
From 10.49% per annum
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips
- Employment proofs
- Bank statements
- Net banking / Debit Card details
Read more
Go to website.
5. Hero FinCorp
Who is eligible?
Loan amount
Repayment options
Interest rates
Documents required
Read more
Who is eligible?
- Applicant should be between 21-58 years
- Minimum monthly income for salaried: Applicant should at least earn a minimum amount of Rs.15,000 monthly
- Minimum monthly income for self-employed: Minimum earning should be Rs.15,000 monthly and six months bank statement is compulsory
Loan amount
Hero FinCorp offers medical loans starting from INR 15,000 up to INR 1.5 lakhs based on your eligibility.
Repayment options
Borrowers can select the date and tenure for EMI payments
Interest rates
The interest rates offered by Hero FinCorp depend on factors such as loan amount, organisation type, job stability and location.
Documents required
- PAN Card, Aadhaar card and other KYC Documents
- Payslips of last 6 months
- Recent bank statements
- Net banking / Debit Card details
Read more
Go to website.
If you find that you are not eligible to benefit from the above mentioned NBFCs, medical crowdfunding is also an option that is available to you. In times of need, support means everything, and with Milaap, you need not look any further. Milaap enables you to set up a fundraiser for any medical emergency within minutes, and you can easily raise funds for treatment expenses.
Do you know someone who could benefit from fundraising? Simply refer them to us and we’ll be happy to lend a hand.
Visit www.milaap.org or call us on +91 9916174848 to get started now.
For more information, write to us at cx@milaap.org.
If you find that you are not eligible to benefit from the above mentioned NBFCs, medical crowdfunding is also an option that is available to you. In times of need, support means everything, and with Milaap, you need not look any further. Milaap enables you to set up a fundraiser for any medical emergency within minutes, and you can easily raise funds for treatment expenses.
Do you know someone who could benefit from fundraising? Simply refer them to us and we’ll be happy to lend a hand.
Visit www.milaap.org or call us on +91 9916174848 to get started now.
For more information, write to us at cx@milaap.org.
Written by:
Aathira Ayyappan
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