What Is a Medical Loan?
A medical loan is a type of personal loan taken specifically to cover healthcare expenses, including surgeries, hospitalizations, diagnostics, or post-operative care. It is unsecured, requires minimal documentation, and is disbursed quickly during emergencies.
When Do You Need a Medical Loan?
🩺 Emergency surgeries or operations
🧪 Expensive diagnostic procedures (MRI, CT scans, etc.)
💊 Long-term treatment (dialysis, cancer therapy, etc.)
🏠 Home care services post-surgery
💉 Accidents & ICU hospitalization
👵 Parental or senior citizen healthcare needs
Medical Loan Features with Vizzve
| Feature | Vizzve Medical Loan Details |
|---|---|
| Loan Amount | ₹25,000 to ₹25 lakhs |
| Interest Rate | Starting at 10.99% p.a.* |
| Loan Tenure | 6 to 60 months |
| Approval Time | Within 24–48 hours |
| Collateral Required | No (unsecured) |
| Processing Fees | Low / Zero with select Vizzve partners |
| Repayment Method | Easy EMI auto-debit |
Benefits of Taking a Medical Loan via Vizzve
🚨 Quick disbursal during emergencies
📝 Paperless online application
💡 Compare multiple offers from 30+ lenders
📉 Affordable EMIs with pre-approved options
🧠 Health doesn’t wait—finance shouldn’t either
Real-Life Scenarios Where a Medical Loan Helps
| Scenario | Expense Estimate | Covered by Vizzve Loan? |
|---|---|---|
| Cardiac Surgery | ₹3 – ₹8 lakhs | ✅ Yes |
| Chemotherapy (Full Cycle) | ₹5 – ₹10 lakhs | ✅ Yes |
| Knee Replacement | ₹2 – ₹5 lakhs | ✅ Yes |
| ICU Charges (7 days avg) | ₹1.5 – ₹3 lakhs | ✅ Yes |
| Health Insurance Deductibles | ₹50K – ₹1 lakh | ✅ Yes |
Risks to Consider
📆 Late EMIs can impact credit score
📈 Higher interest rates for low credit profile
💡 Over-borrowing without repayment plan can hurt future loans
Expert Vizzve Tips
📞 Call Vizzve’s helpline in case of instant emergency loans
🏥 Ask your hospital for cost estimate and match it with loan eligibility
📈 Use EMI calculator before applying
📋 Always check for hidden charges or insurance bundled with the loan
🤝 Co-apply with spouse/parent if your credit score is low
FAQs
Q1. Can I get a medical loan without health insurance?
✅ Yes. A medical loan is completely independent of insurance.
Q2. Is there any age limit for a medical loan?
📆 Most lenders require the borrower to be 21–60 years old.
Q3. Will the loan be directly paid to the hospital?
💰 No. Funds are usually transferred to your bank account to pay as needed.
Q4. Can I get a medical loan with a low credit score?
🧾 Yes, but the interest rate might be slightly higher. Vizzve helps you compare options.
Published on : 22nd July
Published by : SMITA
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed