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Medical Loan Online - Instant Approval for Healthcare & Medical Expenses
Apply for online medical loan instantly and get quick access to funds.
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Medical Loan EMI Calculator
Your EMI will be
₹5,072/month*
Total Interest Payable
₹43,435
Total Amount Payable
₹2,43,435
Check your eligibility
Personal loan calculator is only for illustration purposes. For actual calculations refer to your Repayment Schedule & Loan Agreement.*T&C Apply. **For select loan amounts
Medical Loan in India: Instant Financial Support for Healthcare Needs
Health is the most valuable asset one has in life, warranting the utmost protection and care. Medical conditions can arise unexpectedly, making timely treatment crucial. However, the high cost of medical treatments can leave individuals with few options, sometimes draining their investments and savings. A medical loan offers a practical alternative, allowing you to fund medical expenses without impacting your financial stability.
You can apply for a medical loan to manage healthcare expenses without delay. FIRSTmoney by IDFC FIRST Bank is a smart medical emergency loan designed to meet your healthcare needs without depleting your wealth or savings.
Interest Rate and Tenure of Medical Loan
FIRSTmoney medical loans from IDFC FIRST Bank are available at a competitive medical loan interest rate starting from 9.99% per annum, with repayment terms extending up to 60 months.
This tailored loan is an excellent choice for individuals seeking a structured health loan with manageable monthly payments. If you plan to apply for a medical loan, comparing interest rates can help you choose the right option.
Key Features of a FIRSTmoney Smart Personal Loan for Medical Emergencies
Discover the key features of a 100% digital FIRSTmoney medical loan designed to support your urgent healthcare requirements.
ZERO Foreclosure Charges
If you're ready to repay early, FIRSTmoney can make it a rewarding experience. You can close your medical loan without paying any foreclosure fees. You can choose to fully repay your loan on your terms, without any penalties.
Multiple On-Demand Loans
Sometimes, you need an additional loan amount. With FIRSTmoney, you can access additional funds for medical emergencies with a single application! No need for lengthy paperwork or starting over from scratch.
Flexible Loan Repayment Options
Not everyone’s financial plan looks the same. That’s why FIRSTmoney personal loan offers repayment flexibility with tenures ranging from 9 to 60 months. Choose a repayment plan that fits your goals and monthly cash flow best.
Swift Disbursal
Speed matters when you need funds for medical emergencies. FIRSTmoney delivers instant approval and fast disbursals for personal loans. It's a streamlined process built to give you easy access to funds when you need them the most.
No collateral required
Get an unsecured personal loan without pledging your property or other assets as security, making borrowing simpler and more convenient.
Benefits of a Medical Loan
Medical emergencies often come with unexpected expenses. With a medical emergency loan like FIRSTmoney, you can explore different treatment options, including specialists or out-of-network providers, ensuring the best possible care. Key benefits include:
• Supplementing your insurance for extensive medical expenses
• Covering unexpected costs such as ambulance fees, hospital stays, and specialized treatments
• Instant access to funds for medical treatments, medications, and emergencies, wherever and whenever needed
• No collateral requirements, with attractive medical loan interest rates on a monthly reducing basis
• Flexible repayment options suited to your financial situation
Medical Loan EMI Calculator: Amount-wise & Tenure-wise Breakdown
Check Your Approximate EMI for Medical Expenses
If you're financing a medical need, this table gives you an approximate EMI so you can plan treatment costs with a bit more clarity.
| Loan Amount | Tenure | Interest Rate | Processing Fees | Approx EMI |
| 1 Lakh | 24 Months | 9.99% p.a. | 0% to 3.5% | ₹ 4,614 |
| 2 Lakh | ₹ 9,228 | |||
| 3 Lakh | ₹ 13,842 | |||
| 4 Lakh | ₹ 18,456 | |||
| 5 Lakh | ₹ 23,070 | |||
| 1 Lakh | 36 Months | ₹ 3,226 | ||
| 2 Lakh | ₹ 6,452 | |||
| 3 Lakh | ₹ 9,679 | |||
| 4 Lakh | ₹ 12,905 | |||
| 5 Lakh | ₹ 16,131 | |||
| 1 Lakh | 48 Months | ₹ 2,536 | ||
| 2 Lakh | ₹ 5,072 | |||
| 3 Lakh | ₹ 7,607 | |||
| 4 Lakh | ₹ 10,143 | |||
| 5 Lakh | ₹ 12,679 | |||
| 1 Lakh | 60 Months | ₹ 2,124 | ||
| 2 Lakh | ₹ 4,248 | |||
| 3 Lakh | ₹ 6,373 | |||
| 4 Lakh | ₹ 8,497 | |||
| 5 Lakh | ₹ 10,621 |
Personal Loan Eligibility and Documentation
Personal loan eligibility
To be eligible for an IDFC FIRST Bank personal loan, the following must be met –
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Personal loan documents required
There is no documentation to upload. Keep these ready –
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Easy Guide on How to Apply for a Personal Loan
Step 1
Click on ‘Apply Now’
Step 2
Register using your basic details
Step 3
Choose your loan preferences including amount and EMI plan
Step 4
Link your bank account where you want to receive the funds
Step 5
Complete video KYC by showing your PAN card
Factors to Consider When Applying for a Medical Loan
When considering a medical loan, keep in mind:
• Interest rate: Compare rates from various lenders.
• Loan amount: Ensure it adequately covers your medical expenses.
• Repayment tenure: Select a term that aligns with your financial capacity.
• Processing fees: Processing fees 0% to 3.5% of loan amount (incl. GST) (0 processing fee is available on select loan amounts)
• Eligibility criteria: Confirm that you meet the lender’s requirements.
With a comprehensive medical loan from IDFC FIRST Bank, you can address your healthcare needs with financial peace of mind, enabling you to focus solely on recovery.
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Fees and charges
Fees and charges
Low interest rate
Interest rate starts from 9.99% p.a., calculated on a reducing balance basis.
Processing fee
Processing fees 0% to 3.5% of loan amount (incl. GST) (0 processing fee is available on select loan amounts)
[View fees & charges]
Flexible loan tenures
Tenure: 9–60 months
Do’s and Don’ts of a Medical Loan
Do's
- Check loan details before making a decision
- Choose a repayment plan based on your income level
- Maintain a consistent repayment habit
- Verify eligibility before applying
- Apply digitally for faster approval
Don’ts
- Do not assume lower EMI means lower cost
- Do not ignore credit score requirements
- Do not underestimate the future total cost of medical expenses
- Avoid submitting incomplete applications
- Do not take a loan without planning repayment
List of Medical Loan Fees and Charges
Here is a comprehensive list of personal loan charges for IDFC FIRST Bank's FIRSTmoney:
Type of Charge |
Fee/Charge |
Processing fees |
Processing fees 0% to 3.5% of loan amount (incl. GST) (0 processing fee is available on select loan amounts) |
Rate of interest |
Starting from 9.99% |
Stamping charges |
As per State’s Stamp Act |
Penalty on overdue EMIs |
12% p.a. (1% p.m.) or Rs. 300 whichever is higher. No GST will be applicable. |
EMI bounce charges |
12% of the bounced EMI amount with a minimum charge of ₹400 and a maximum of ₹1000 (excluding GST). |
Payment swap charges |
NIL |
Foreclosure charges |
NIL (Foreclosure requires a sanction letter) |
Part Pre-Payment |
Not allowed |
EMI Pickup/Collection charges |
₹500 |
Duplicate No Objection Certificate |
₹500 |
Physical Statement of Account |
₹500 |
Document retrieval charges |
₹500 |
Cooling-off period |
3 days (Loan can be cancelled without penalty within 3 days) |
Technical bounce charges* |
Charge rates would be same as applicable under EMI bounce charges |
Things to Know About Medical Loan
Eligibility Criteria
Applicants need a stable income, a minimum salary of ₹10,000, and a CIBIL score of 710 or above, for FIRSTmoney personal loan eligibility.
Processing fees & charges
Along with making a note of interest, it is important to review all charges. Ensure transparency in your decision-making with FIRSTmoney.
Interest rates
Interest rates directly affect EMI and repayment amount. FIRSTmoney offers competitive rates starting from 9.99% p.a.
Easy loan comparison
Comparing loan options based on key factors helps make better choices. FIRSTmoney provides clear and structured information.
Better financial planning
Flexible repayment tenure up to 60 months and zero foreclosure charges help manage EMIs effectively.
Tips to smartly use your Medical Loan
Tip 1
Align the loan with your budget
Choose your loan amount and EMI amount that fits your income comfortably
Tip 2
Avoid multiple financial commitments
Limit additional loans to reduce your repayment pressure.
Tip 3
Stay consistent with repayments
Timely EMIs can help you maintain credit score and avoid penalties.
Frequently Asked Questions
What is a medical loan?
A medical loan is a type of personal loan tailored for medical emergencies. It covers hospitalizations, urgent treatments, surgeries, and other healthcare needs. FIRSTmoney health loan offers quick financial assistance, enabling you to handle unexpected medical expenses without compromising your savings.
Who is eligible for a medical loan?
Medical loan eligibility typically includes:
- Age: 21-60 years
- Employment: Salaried or self-employed individuals
- Credit score: Generally, a CIBIL score of 710 or above is preferred.
What is the interest rate on an IDFC FIRST Bank medical loan?
Interest rates for an IDFC FIRST Bank medical loan vary based on the applicant’s credit profile, loan amount, and tenure, generally starting from 9.99% per annum. It’s recommended to check directly with the bank for precise rates.
What are the uses of a medical loan?
A medical loan from FIRSTmoney can be used for a range of healthcare needs, such as:
- Hospitalization and surgery expenses
- Medical treatments, diagnostic procedures, and therapies
- Medication and post-treatment care
- Emergency medical expenses
How quickly can I get a medical loan approved?
IDFC FIRST Bank’s medical loan offers a fast, fully digital application process, with instant approvals based on applicant verification. Once your details are confirmed, the loan approval is immediate.
Choose your personal loan amount with FIRSTmoney
Different ways you can use a FIRSTmoney Personal Loan
Travel personal loan
Don’t let finances hold back your travel plans. With a FIRSTmoney travel personal loan, you can fund your entire itinerary, from flights and accommodations to activities and shopping, without delay. Whether it’s a planned vacation or a last-minute escape, our personal loans are designed for speed, flexibility, and convenience.
Emergency personal loan
Urgencies demand instant action, and that’s exactly what FIRSTmoney emergency personal loan delivers. From medical bills to home or car repairs, get immediate funds with a 100% online process. With same-day disbursal, easy eligibility check, and zero collateral, you’re never left stranded. Respond to the unexpected without added stress.
Wedding personal loan
Big celebrations deserve big moments, not budget compromises. A FIRSTmoney wedding personal loan ensures you can plan the perfect ceremony, reception, or honeymoon without financial strain. From decor and catering to gifts and travel, fund every detail with ease. Apply in minutes, get approved quickly, and enjoy your big day stress-free.
Medical personal loan
Your health shouldn’t have to suffer from a lack of funds. A FIRSTmoney medical personal loan helps you cover critical treatments, surgeries, or aftercare without delay. Our fast, digital process ensures you can access funds quickly, so you don’t have to use your savings or delay healthcare support.
Home improvement personal loan
Revamp your space the way you want with a FIRSTmoney home improvement personal loan. Whether it’s structural repairs, modern upgrades, or stylish interiors, we offer the financial freedom to enhance your living space with ease. No lengthy approvals, no heavy EMIs, just simple, smart financing for better living.
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