Get Your Emergency Loan Approved Within 3 to 72 hours From These Banks

Last Updated : March 25, 2016, 6:26 a.m.

Sometimes you can't prevent certain incidents like accidents or other casualties affecting your body. In a bid to get your body reshaped, you would be requiring funds on an urgent basis. Funds will be required for admission charges, expenses on surgery and room rent, etc. So you look to avail the option of credit card, mediclaim, support from friends and relatives. But all that help may turn out to be insufficient to cover the medical treatment expenses. So what will you do? Scratch your head or find the right solution. If your answer is the latter one, then we can help you in a big way.

Medical emergency loan, categorized under personal loan, is offered by most leading banks across India, including ICICI Bank, HDFC Bank, SBI, etc. Even some financial institutions like Bajaj Finserv, Fullerton and Arogya Finance provide such loans to customers within 24-72 hours of submitting the application. Diseases covered under medical emergency loan include corneal implant, angioplasty, congenital heart surgery, coronary artery bypass graft surgery, surgery for replacement of heart and knees, laser assisted hatching, among others. Want to know medical emergency loan in detail, please read the points below.

HDFC Bank

• HDFC Bank account holders can apply online for medical emergency loan. Non-account holders will have to go to HDFC Bank branch to avail the loan.
• There is an algorithm that tracks your account, CIBIL score and cash flow. After getting assured on these fronts, loan will get sanctioned in just 10 seconds
• The disbursal takes around three days
• Minimum work experience required is two years, and you must have been working with your current employer for at least a year
• Minimum and maximum loan that you can avail from HDFC for medical emergency is Rs 50K-15 lakhs
• Interest rate ranges between 12.75-19.50%
• Repayment period of 1-4 years
• Processing fee at 2% of the loan amount

ICICI Bank

• Apply online and call 24×7 customer care centre or walk to the branches of the bank to avail medical emergency loan
• The loan is approved within 72 hours
• Minimum work experience required is two years
• You can avail loan in the range of Rs 50,000-15 lakhs depending on your income and the capacity to repay the debt
• Interest rate of 13.49-17.50%
• Repayment period of 1-5 years
• Processing fee of 2-2.25% of the loan amount

State Bank of India

• You can visit the bank branch or apply online for medical emergency online
• Minimum and maximum loan amount kept at Rs 50,000 and Rs 2 lakhs, respectively
• Interest rate is 14.5%
• Processing fee 0.5% of the loan amount
• Processing fee can be waived if you have a regular housing loan account with SBI
• Repayment period of 1-5 years in easy EMIs

Arogya Finance (Bangalore,Chennai, Delhi-NCR, Kochi, Kolkata, Mumbai, Patna, Ranchi)

• If you are advised medical treatment, but do have the funds to undertake the same. You can take help of Arogya Finance
• Arogya Finance will check your credit worthiness via pyschometric test
• The decision comes within 3-48 hours
• Arogya pays the hospital fees directly if loan is approved
• Just like any other loan, you can repay it within 12-60 months

Kindly see below the eligibility criteria of emergency loan

ICICI Bank

HDFC Bank

State Bank of India

(Updated on:21st October,2016)