What is a medical loan?
Medical loans are customized borrowing options for people who do not have a health insurance plan and are in grave need of funds due to a medical emergency. It is n unsecured loan and helps people to cover expenses pertaining to operations, surgery, daycare procedure, or treatment. However, banks demand a credit score of 650 and above before sanctioning medical loans to borrowers.
Advantages of medical loan:
- You will no longer have jeopardized your savings or sold the property to afford a treatment.
- Loans are quickly disbursed within 2-3 days
- No collateral is required.
- Easy EMI facility and minimal documentation.
- Covers treatment costs of all types of diseases.