DBI Bank Medical loan

A medical emergency is usually unpredictable. Thus, you will need a significant quantity of money to cover your medical expenditures. An IDBI Bank medical loan makes it financially easier to continue with your medical treatment. With IDBI Bank medical emergency loan, you just worry about your health and not the climbing bills.

Feature and Benefits of IDBI Bank Medical Loan

The following are the features and benefits of the IDBI Bank Medical loan:

• You can apply for an IDBI Bank medical emergency loan to cover any form of medical expense, such as hospital bills, surgical fees, prescription medications, and so on.
• This loan requires only a minimal amount of documents.
• Flexible loan payback terms are available.
• Loans get approved promptly.
• No security or collateral is required.

What are the Interest Rates for Medical Loans?

The IDBI Bank medical loan interest rate is 10.50% p.a. for retired IDBI staff and 13.25% p.a. for others. The fixed ROI is 11% – 15.50% p.a.

Why Choose IDBI Bank for Medical Loans?

The instant medical loan from IDBI Bank offers you the following benefits:

• The interest rate starts at 10.50% per annum, which is fairly inexpensive when compared to other lenders. 
• The loan can take up to 7 days to process, and the documentation required is low. After submitting the documentation, the bank begins processing the loan. 
• You can repay the borrowed money from IDBI Bank in monthly instalments over a chosen period.

Personal Loan for Medical: Interest Rates & Charges

The following are the IDBI Bank medical loan interest rates and charges.

Tips for Getting an IDBI Bank Medical Loan

The following tips must be followed to get IDBI Bank Medical loan:

• Maintain an excellent credit score
• Use a medical loan eligibility calculator before applying
• Keep debt-to-income ratio to the minimum
• Submit all the required documents

Who is Eligible for an IDBI Bank Medical Loan?

The following is the medical loan eligibility in IDBI Bank:

• Any salaried/self-employed individual can apply for this loan.
• You should be between 21 years and 58 years of age to apply for a medical loan.
• You should have an overall work experience of at least 1 year and should have been employed with your current organisation for at least 6 months.
• You should earn a minimum salary of at least Rs.20,000 per month. Those who live in metropolitan cities may need to earn a higher monthly income.
• The applicant should be an Indian citizen who resides in India.

Documents Required for Medical Loan Application

The following are the medical loan documents for IDBI Bank:

• Signed application form with photograph
• Copy of passport/voter ID card/driving licence
• Processing fee cheque
• Last 3 months bank statement/6 months bank passbook
• Documentation for salaried applicants: Latest salary slip, current dated salary certificate with the latest Form 16
• Documentation for self-employed applicants: Latest Bank statement, Latest ITR, or Form 16

What are the Things to Consider While Taking a Medical Loan?

The following things must be kept in mind when applying for instant medical loan from IDBI Bank:

• You must check the loan’s disbursement time. For medical situations, it is recommended to choose a loan with the shortest disbursement time.
• Make sure you utilise the EMI calculator.
• Your credit score will influence the interest rate you are charged on a medical loan.

How to Apply for a Medical Loan?

Let IDBI Bank medical emergency loan help you get the best healthcare service. Receive affordable rates and flexible repayment options. Urban Money’s expert counsel can help you have a stress-free financial experience. Visit the official website or give us a call at 1800 208 3344.