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Personal Loan for Medical Emergency

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Medical Emergency Loan

Medical emergencies can come marching at your door without any prior warnings. And they don’t only come with distress but also a hefty bill of medicines and treatments. The good news is, a medical loan will keep you financially equipped to tackle such emergencies.

When the need for the money is urgent, you cannot waste any time. In situations like these, a 100% digital application process, instant approval and quick disbursal of loan apps can further lift that weight off your shoulders.

Zype is such an app that can offer a personal loan for medical emergency that can be a lifeline for you. Just complete a quick and easy application that won’t take more than 5 minutes, get approved for a loan in 60 seconds and get cash directly to your registered bank account within 24 hours.

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Features and Benefits of Medical Emergency Loan

Whether it’s your wedding, or your loan experience, you should get what you deserve; the best! And this is how Zype can make it happen for you:

Instant Approval:

When you’re dealing with a medical emergency, nothing should come in the way, especially cash delays. Keeping this in mind, Zype gives approval for personal loans in 60 seconds!

Flexible Repayment Options:

With multiple personal loan repayment options, you can select a repayment tenure of 3, 6, 9 and 12 EMIs. Choose an EMI plan that fits your budget so you don’t feel burdened by your repayments.

Affordable Interest Rate

Zype’s interest rate on personal loans starts at 1.5% interest per month. The interest you’re offered on your personal loan depends on many factors like your credit score, repayment history and monthly income.

No Collateral:

All Zype loans are unsecured loans. This means you don’t have to provide any security like gold, jewellery, etc. against the money you borrow.

Quick Disbursal:

After you have completed your application and accepted the loan offer, you will receive the loan amount directly into your registered bank account within 24 hours.  

Easy Application:

With no document upload or paperwork, you can complete the entire loan application in less than 5 minutes. 

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Documents Required for Medical Emergency Loans

You will have to provide your personal information like email address, phone number, etc. along with some documents to complete your application. And while the application process of Zype is already fast, keeping the required information ready can make it quicker. With no document uploads or paperwork, this is all you need: 

Proof of photo identity

After you’re approved for a loan, you will need to do a real-time selfie verification to complete your KYC and unlock the limit.

Mandatory documents

Enter your PAN and Aadhaar number along with a few basic details like phone number, email address, etc. to complete your application & activate your loan (Physical documents not required)

Proof of Income (Optional)

Want a higher credit limit? All you need to do is upload your bank statement for the last 4 months & get approved for a higher amount. 

Eligibility Criteria Required for Emergency Loan

You have to meet your lender’s eligibility criteria to complete your personal loan application. Here’s what you need to be eligible for Zype’s personal loan for medical emergency:

Age

18 years or above

Citizenship

Indian with a valid PAN & Aadhaar card

Work experience

Salaried individual

Monthly Salary

Monthly income of at least ₹15,000

How to Apply for a Medical Loan Online ?

On Zype, you can apply for a personal loan for medical emergency online in these 6 simple steps: 

1) Download the Zype app from PlayStore or AppStore & create your account by completing Mobile OTP.

2) Enter some basic details like your phone number, email address & PAN number to complete your application.

3) Get an approved loan offer in 60 seconds based on your credit profile.

4) Complete your KYC by completing an Aadhaar linked mobile OTP & doing a selfie verification to unlock your credit limit.

5) Choose the amount you want to transfer from your credit limit to your registered bank account along with a repayment plan.

6) And that’s it! You will get the money directly to your account in 24 hours!

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Frequently Asked Questions

What Is An Emergency Loan?

An emergency loan is a type of personal loan which you can take during any kind of real-life crisis.

With an emergency loan you can get instant access to the money you need to cover all the expenses.

What Is The Repayment Period For An Emergency Loan?

The repayment period for an emergency loan is generally between 3 months to 5 years.

With Zype, you can choose between flexible EMI options of 3,6,9 or 12 EMIs.

Can I Repay An Emergency Loan Early?

Yes, you can pre-close an emergency loan by paying your outstanding amount early. You may or may not have to pay prepayment charges based on the terms of your loan agreement.

On Zype, you can prepay your loan without paying any extra charges.

How Fast Can I Get Funds For A Medical Emergency?

With Zype, you can get funds for a medical emergency quickly! Just complete your loan application in less than 5 minutes, get approved in 60 seconds and get the money directly in your registered bank account in 24 hours. 

What Is A Medical Emergency Loan?

A medical emergency loan is a personal loan that is designed to meet the expenses of any unexpected medical treatments, medicines and procedures.

What Credit Score Do I Need For A Medical Loan?

The higher your credit score, the higher the loans you can get! Usually a credit score above 650 can help you get a personal loan. But building a score above 750 can help you unlock some more benefits like instant approval, quick disbursal and lower interest rates.

What Is The Interest Rate On A Medical Loan?

Zype’s personal loans for medical emergencies start at an affordable interest rate of 1.5% per month.

What Are The Interest Charges On An Emergency Loan?

The interest rate on your emergency loan can vary from lender to lender.

Zype offers personal loans up to Rs 5 lakhs starting at just 1.5% per month.

How Many Days Does It Take To Get Approved For An Emergency Loan?

Different lenders have different eligibility criterion for giving loans. You can get approved for an emergency loan based on factors like your monthly income, credit score and repayment history.

Usually, it takes anywhere between 1-7 days to get approved for an emergency loan.

On Zype, you can get approved for an emergency loan within 30 seconds & get the money in your account within 24 hours.  

What Are The Mandatory Documents For A Medical Loan?

With no document uploads or paperwork, you only need your PAN and Aadhaar number to complete your loan application and unlock your offer.

Do I Have To Mention The Reason For The Treatment?

On Zype, you don’t have to mention the reason for the treatment as there is no restriction on the end usage of your personal loan.

What Is The Maximum Loan Amount I Can Get For A Personal Loan For Medical Expenses?

Zype offers personal loan for medical emergency up to ₹5,00,000 starting at 1.5% interest per month.