Medical Loans up to ₹10 Lakhs For Salaried Employees

With Interest Rate Starting 11.49% p.a.

If you are a salaried individual facing medical expenses, you can apply for a Medical Loan online with a 100% digital process. Get a Medical Loan from ₹1 lakh up to ₹10 lakh with interest rates starting from 11.49% p.a. up to 19.99% p.a. Enjoy flexibility on your loan account with zero foreclosure charges, no lock-in period, and zero pre-payment charges. Manage your Medical Loan account online through our mobile app — no branch visits required.

  • ROI from 11.49%
    to 19.99%
  • Zero Foreclosure & Prepayment Charges
  • No Lock-in
    Period

Features of Medical Loan

Looking for a Medical Loan? Mirae Asset Financial Services provides salaried employees with quick access to collateral-free funds for medical emergencies or planned healthcare needs. Benefit from flexible EMI options, competitive interest rates, and no hidden charges. With a seamless online application process, you can focus on your health without financial worries. Get the support you need when it matters most!

No Collateral

Collateral-free loans from ₹1,00,000 to ₹10,00,000

Attractive Interest Rates**

from 11.49% p.a. to 19.99% p.a.

Fast Pre-Approval*

Get your loan approval within 24 hours

Zero Surprises

Transparent terms and
no hidden costs

Zero Foreclosure Charges

Repay early without any charges

Flexible Tenure Options

Tenure options from 6 to 48 months

0 Hassles

No physical paperwork required

No Branch Visits

Apply, view & manage your account online

Easy To Apply

Apply online in a few easy steps & get a quick decision!

No Lock-in Period

Foreclose anytime without any lock-in period

* Funds will be disbursed within 2 business days subject to successful verification.

** The interest rate will vary depending on your credit profile, employment info, and salary details.

Medical Loan Eligibility Criteria

Thinking of applying for a medical loan? Start by checking your eligibility to ensure a smooth and hassle-free process. With all the details in place, you can secure quick funding and focus on what truly matters—your health and well-being!

Applicant must be salaried with Minimum Salary of Rs. 35,000 per month.

Maximum FOIR
(Fixed Obligation to Income Ratio) - 70%.

Age - 22 to 58 Yrs
& Resident Indian National

1 Year Work-ex
(4 months with
current company)

Minimum credit
score of 700 or higher.

Available only at selected locations in India

APPLY NOW

Note: Only salaried individuals are eligible.

Eligibility is not a guarantee. Eligibility will be checked based on the information you provide. The amount you can borrow (loan amount), the repayment period (tenure), and the interest rate will vary depending on your credit profile, employment info, and salary details.

Medical Loan EMI Calculator

Use a medical loan to manage your healthcare expenses with flexible monthly instalments ranging from 6 to 48 months. Easily calculate your EMI based on your loan amount and repayment tenure. Get the treatment you need now, with affordable repayment options that fit your budget!

Loan Amount

1,00,000 10,00,000

Interest rate

11.49% 19.99%

Tenure

6 Months 48 Months

Your Monthly EMI:

Total Interest
Principal Amount
Total Amount

Your Monthly EMI:

Eligibility is not a guarantee. Eligibility will be checked based on the information you provide. The amount you can borrow (loan amount), the repayment period (tenure), and the interest rate will vary depending on your credit profile, employment info, and salary details.

APPLY NOW

Medical Loan Charges, Interest Rates & Details

Before applying for a medical loan, carefully review the interest rates, fees, and charges to ensure a smooth and stress-free experience. Opt for transparent loan terms that fit your needs, so you can focus on your health without worrying about finances.

Minimum Loan Amount
₹1,00,000
Maximum Loan Amount
₹10,00,000
Loan Tenure
Tenure from 6 to 48 Months
Processing Fees
3% to 4% of loan amount. PF will be deducted from the loan amount & net amount will be disbursed
Penal Charges
2.00% per month + taxes on the overdue amount for the default period
Interest Rate
Starting from 11.49% p.a. up to 19.99% p.a Interest rate is on a reducing basis, pay interest only on the remaining balance of your loan, not the entire amount borrowed.
Stamp Duty
₹200
Foreclosure Charges
ZERO Foreclosure charges with NO lock-in period
Bounce Charges
₹500
Bank Mandate Swap
₹500
Collection Charges
Upto ₹2,000 + taxes per instance
Legal Charges
On actuals (in case of default)
Annual Percentage Rate (APR)
13.44% p.a. to 38.07% p.a.
(including fees & taxes)
Minimum Period
6 Months
Maximum Period
48 Months

Taxes as applicable

Eligibility is not a guarantee. Eligibility will be checked based on the information you provide. The amount you can borrow (loan amount), the repayment period (tenure), processing fees and the interest rate will vary depending on your credit profile, employment info, and salary details.

Let's understand with an example:
If a customer avails a loan of ₹1,00,000 for 12 months, at an annual rate of 12% p.a., then the customer will pay monthly EMI for 12 months of ₹8,885 per month. The total loan payment over 12 months will be ₹1,06,619* (including principal and interest). Total Cost of Loan = Interest Amount + Processing Fees @ 4% + Stamp Duty = ₹ 6,619 + ₹4,000 + ₹200 = ₹10,819*

* Taxes as applicable

How to Apply Online for Medical Loan

Apply for a Medical Loan online with a quick and hassle-free process, requiring no physical documentation. Complete your loan application by uploading the necessary documents online and finishing the verification in just a few clicks. Before applying, check your Medical Loan eligibility factors like income, credit score, and employment status. Keep documents such as identity proof, address proof, income statements, and bank details ready for a smooth application process. Once approved, the loan amount will be disbursed directly to your bank account. With our seamless online process, you can easily apply for a Medical Loan at a competitive interest rate and get quick access to funds for your healthcare needs.
Download PDF for detail steps
  • 1
    Apply for Medical Loan via Web or App
  • 2
    Basic Details: Provide basic details & check eligibility. Complete e-KYC
    with PAN & Aadhaar details.
  • 3
    Additional Details: Provides address, employment, & additional
    details.
  • 4
    Choose Loan Terms: Based on eligibility, choose loan amount & tenure.
  • 5
    Complete Documentation: Creates e-mandate, sign loan agreement,
    & complete Video KYC.
  • Funds Disbursement: Funds are disbursed directly to your bank account (Subject to Verification).
APPLY NOW

Things to Know Before Applying Online For a Medical Loan

Medical emergencies can be unpredictable, and having quick financial support is crucial. Before you apply for a Medical Loan, it’s important to understand key details like eligibility, repayment options, and charges. With our online process, you can get fast access to funds without any hassle. Learn more about interest rates, loan tenure, and prepayment flexibility to manage your medical expenses smoothly. Here, we answer common questions to help you make informed financial decisions during critical times.
How Can We Help?

Medical loan is an unsecured loan that you can borrow from an NBFC or other lender for various medical expenses. Unlike a car loan or mortgage, you don't need to put up any collateral (like your car or house) to secure the loan. Medical loans are usually repaid in fixed monthly instalments over a period of one to five years.

The EMI calculator can help you to calculate the EMI amount and applicable interest.

  • a. Enter your required loan amount.
  • b. Select the applicable interest rate.
  • c. Choose your suitable repayment tenure.

You can see your monthly EMI amount and the total payable interest on your loan amount.

You don't need to pledge any assets or collaterals to get a medical loan.

The interest charged on your medical loan is reducing in nature. Your principal outstanding reduces with every EMI payment and interest is only charged on the revised principal amount.

You can apply for medical loan by Mirae Asset Financial Services via 100% online process. If your profile matches all the requirement criteria, the loan will be sanctioned instantly on completion of the process. The funds will be disbursed to your bank account within 48 hours subject to successful verification.

You can check the status of your loan application on the App/Website with a tap/click on the ‘Track Application Status’ button on the medical Loan dashboard.

Currently, the medical loan can only be availed by a single entity.

You can use the medical loan to manage your expenses such as medical bills, home renovation, business expenses, travel expenses, etc. The loan amount cannot be used for speculative activities, capital market-related purposes, or anti-social purposes.

Upon completion of your medical loan application, the funds will be disbursed to your account within 48 hours, subject to successful verification.

A minimum salary of Rs. 35,000 is necessary to avail a medical loan with Mirae Asset Financial Services (India) Pvt. Ltd.

The required documents for medical loan are Aadhar Card, PAN Card, Driving Licence, Salary slips of last 3 months, Employee ID Card and Bank statement of salary account from current company. Incase your current address is different from your permanent address, you need to provide any one of these documents with the current address: Aadhar Card, Passport, Driving Licence, Voter Identification Card, Registered Sale Deed or Gas, Electricity, Landline Telephone, Piped Gas, Municipality Water Bill (not more than 2 months old), or Bank Statement, Passbook (not more than 30 days old) or Valid Registered Rent Agreement (residual validity of more than 6 months).

Currently at Mirae Asset Financial Services, it is not possible to do a medical loan Balance Transfer.

The interest rate on medical loan with Mirae Asset Financial Services starts from 11.49 % p.a. and is determined by multiple factors such as your credit score, employer, repayment capacity (debt to income ratio), etc.

Please follow the below steps to pay your EMI in advance

  • - Login to the App or Website
  • - Select the ‘medical Loan’ dashboard
  • - Click on the ‘Pay Now’ option on the summary screen
  • - Select the ‘Loan Application Number’ in the drop-down menu.
  • - Select ‘EMI Payment in Advance’ in the ‘Payment Option’ drop-down menu.
  • - Select the ‘No. of Instalments’
  • - Click on the ‘Pay Now’ button and complete your payment.

Please be aware: Any EMI paid in advance will be credited towards upcoming EMIs. However, this advance payment will not be directly deducted from the principal outstanding amount. Consequently, the total interest paid on the loan account will remain unaffected.

Please follow the below steps to pay your EMI in advance

  • - Login to the App or Website
  • - Select the ‘medical Loan’ dashboard
  • - Click on the ‘Pay Now’ option on the summary screen
  • - Select the ‘Loan Application Number’ in the drop-down menu.
  • - Select ‘Overdue Payment’ in the ‘Payment Option’ drop-down menu.
  • - Enter the amount
  • - Click on the ‘Pay Now’ button and complete your payment.

Failing to make EMI payments will result in bounce charges and penal charges, as outlined in the loan agreement's terms and conditions. Additionally, it may have a negative impact on your credit score & will be recorded in your credit history. Defaulting on the loan may also make it challenging to obtain any future loans.

You can write to mcare@miraeassetfin.com with the requested time slot for your video KYC along with your Application ID or call us at 1800 2099 180 (Monday to Friday from 9 am to 6 pm excluding holidays).

Please Note: You can schedule Video KYC anytime from Monday to Saturday from 9 am to 7 pm excluding holidays. The video KYC slot will be confirmed subject to availability of our Video KYC agent.

The processing fees is charged from 3% to 4% of loan amount. PF will be deducted from the loan amount & net amount will be disbursed. Eg. For a loan amount of Rs.4,00,000, processing fees charged will be Rs. 12,000 + Taxes (Rs.4,00,000 x 3% = Rs. 12,000).

Medical loans are not eligible for tax exemption.

You can choose your loan term as per your requirements from 6 months to 48 months.

The minimum loan amount is Rs.1,00,000, while you may borrow a maximum loan amount of Rs. 10,00,000.

A minimum credit score of 700 or higher is necessary to get the medical Loan.

Yes, you can foreclose your medical loan without any foreclosure charges and no lock-in period.

You can cancel your loan within the cooling-off period (3 days from the date of disbursement) in accordance with our lender partner's policies. Please note that the processing fee and stamp duty are non-refundable if the loan is cancelled during this period.

Why Choose Medical Loan With Us

A medical loan is a type of personal loan that helps you cover unexpected healthcare expenses, from surgeries and treatments to hospital bills and prescriptions. With quick, collateral-free funds and flexible repayment options, a medical loan ensures you can focus on your recovery without financial stress. To make the most of a medical loan, estimate your total medical expenses, compare medical loan interest rates, and choose an EMI plan that suits your financial situation. Plan wisely, manage your health expenses with ease, and get the care you need without worrying about money.

Personal Loan for Travelling

When it comes to traveling, whether domestically or internationally, the average expenditure can be significant—around Rs 30,000 for domestic trips and Rs 1,50,000 for international ones. However, you can easily manage these travel costs by considering a Personal loan. With this option, you can repay the loan through convenient installments, making your travel plans hassle-free.

Personal Loan for Marriage

Planning a wedding involves managing numerous expenses, from food and décor to gifting and travel arrangements. Handling all these financial aspects can be overwhelming. To alleviate the burden, we suggest considering a Personal loan. By availing of this option, you can easily manage wedding expenses through convenient monthly EMI payments. Let us help you navigate your wedding journey with financial ease.

Personal Loan for Home Renovation

Embarking on home renovations or setting up a new living space involves a multitude of expenses, including painting, repairs, furniture, décor, labor, electronics, and more. Fortunately, with a Personal loan, you can navigate this financial challenge effortlessly. Break down your renovation expenses into manageable monthly EMI payments, ensuring a smoother and more accessible path to creating your ideal home environment.

Personal Loan for Travelling

When it comes to traveling, whether domestically or internationally, the average expenditure can be significant—around Rs 30,000 for domestic trips and Rs 1,50,000 for international ones. However, you can easily manage these travel costs by considering a Personal loan. With this option, you can repay the loan through convenient installments, making your travel plans hassle-free.

Personal Loan for Marriage

Planning a wedding involves managing numerous expenses, from food and décor to gifting and travel arrangements. Handling all these financial aspects can be overwhelming. To alleviate the burden, we suggest considering a Personal oan. By availing of this option, you can easily manage wedding expenses through convenient monthly EMI payments. Let us help you navigate your wedding journey with financial ease.

Personal Loan for Home Renovation

Embarking on home renovations or setting up a new living space involves a multitude of expenses, including painting, repairs, furniture, décor, labor, electronics, and more. Fortunately, with a Personal loan, you can navigate this financial challenge effortlessly. Break down your renovation expenses into manageable monthly EMI payments, ensuring a smoother and more accessible path to creating your ideal home environment.

Remember: Responsible borrowing is key. Only consider a Medical loan if you’re confident you can comfortably repay the EMIs alongside your regular expenses. Also, avoid Medical loans if you can qualify for better financing options.

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