A medical loan is a collateral-free loan offered to individuals requiring urgent finances to fund their medical needs. The loan proceeds can be used for hospital bills, medicines, surgeries, etc. Most lenders offer quick loan approval and instant disbursal.
Medical Loan

Get up to ₹50 Lakhs starting at 9.98%
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Finance Any Medical Expense
Cover hospitalization, surgeries, treatments
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What is a Medical Loan/Medical Emergency Loan?
Best Banks & Apps for Medical Loan in India 2026
There are no specific banks or apps for medical loans in India. However, applicants can visit the Paisabazaar app or website for apply personal loan online and opt for a lender based on the rates and offers provided by them, the processing time, approval chances and disbursal speed.
Medical Loan Interest Rate - Compare All Lenders
| Bank/NBFC | Interest Rates (% p.a.) | Processing Fees |
|---|---|---|
| Aditya Birla Finance | 10.99 onwards | Up to 4% |
| Axis Bank | 9.99 onwards* | Up to 2% |
| Bank of Baroda | 10.15-18.00 | Up to 2% (Max. Rs. 10,000) |
| Bajaj Finance Limited | 10.00-30.00 | Up to 3.93% |
| Bank of India | 10.85-16.15 | Up to 1% (Min. Rs. 250; Max. Rs. 15,000) |
| Bank of Maharashtra | 8.75-13.55 | Up to 1% (Max. Rs. 10,000) |
| Canara Bank | 9.70-15.15 | Up to 0.5% (Max. Rs. 5000) |
| Central Bank of India | 9.85-11.65 | Up to 1% |
| Cholamandalam IFC | 10.00-28.00 | 4% - 6% |
| Dhani Loans & Services Ltd. | 13.99 onwards | 3% onwards |
| Federal Bank | 12.00 - 22.50* | Up to 2% |
| HDB Financial Services | 10.00 - 35.00 | Up to 5.90% |
| HDFC Bank | 9.99 onwards | Up to Rs 6,500 |
| Hero Fincorp | Up to 30* | 2.3% - 3% |
| HSBC Bank | 9.75 onwards | Up to 2% |
| ICICI Bank | 9.99 onwards | Up to 2% |
| IDFC FIRST Bank | 9.99 onwards | Up to 2% |
| IIFL Finance | 12.00 - 28.00 | 2% - 9% |
| Indian Overseas Bank | 10.25 onwards | Up to 0.75% |
| IndusInd Bank | 10.35 onwards* | Up to 3.5% |
| Kotak Mahindra Bank | 9.98 onwards* | Up to 5% |
| L&T Finance | 11.00 onwards | Up to 3% |
| Mahindra Finance | 8.00 - 25.00 | 2% of loan amount or Rs. 5,000, whichever is lower |
| Mannapuram Finance | 18.00 - 24.00 | 1% of loan amount |
| Moneyview | 14.00 onwards | 2% onwards |
| Muthoot Finance | 13.50 onwards | Varies for each application |
| Piramal Finance | 12.14 onwards | Up to 5% |
| Poonawalla Fincorp | 9.99 onwards | Up to 3% |
| Punjab & Sind Bank | 9.60-13.85 | 0.50% - 1% |
| Punjab National Bank | 10.25-16.80 | Up to 1% |
| Shriram Finance | 11.00 onwards | Up to 5% |
| Tata Capital | 10.99 onwards | Up to 3.5% |
| UCO Bank | 9.95 - 13.20 | Up to 1% (Min. Rs. 750) |
| Union Bank of India | 8.75 - 12.55 | Up to 1% (Max. Rs. 7,500) |
*Paisabazaar special rates
Note: Rates as of 1st July 2026
How Much Medical Loan Can You Get?
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Medical Loan Eligibility
The eligibility of applicants availing medical loans is similar to that of a regular personal loan. Below-mentioned is the eligibility criteria for availing a medical loan:
Also Check: Personal Loan Eligibility Online
Documents Required for Medical Loan
Below-mentioned are the documents required for availing a medical loan:
Also Check: Documents Requirements for Personal Loan
Medical Loan vs Health Insurance - Key Differences
| Medical Loan | Health Insurance |
|---|---|
| It is a debt and is funded by the lender | The amount is paid by the insurance company |
| The amount repaid in the form of EMIs | Regular annual premiums are paid even if you don’t use the insurance |
| Funds are disbursed instantly | You need to claim the insurance to avail the benefits |
| Can be used for any hospital | Can be used for specific hospitals only |
How to Get an Emergency Medical Loan in 24 Hours
You can get a medical emergency loan through Paisabazaar in the following steps:
Check Offers on: Personal Loan App
Compare & Choose the Best Offer
Pre-approved Offers with Instant Disbursals
Know Your Chances of Approval
End-to-End Digital Process
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FAQs
Can I get an emergency medical loan in 24 hours?
Yes, you can get an emergency medical loan in 24 hours through the Paisabazaar app.
Which bank gives a medical loan at the lowest interest rate?
Interest rates vary for different individuals. The lowest interest rates depend on the credit score, monthly income, EMI/NMI ratio, job profile, and the employer’s profile of the applicants.
What is the maximum amount for a medical emergency loan?
The maximum amount depends on the repayment capacity of the applicant, which is determined by his/her EMI/NMI ratio.
Can I get a medical loan without a CIBIL score?
Applicants having a CIBIL score of 760 and above usually have higher chances of getting their medical loans approved. However, a few lenders also offer medical loans without a CIBIL score but at stringent borrowing terms.
Is a medical loan different from a personal loan?
No, a medical loan is a type of personal loan. Most lenders offer personal loans for medical emergencies to meet the urgent medical requirements of the applicants.
What documents are needed for a medical emergency loan?
Lenders usually require the Aadhar card, passport, voter ID, PAN card, utility bills, bank statements, salary slips and ITRs during a loan application.
Can I get a medical loan for cancer treatment?
Yes, you can get a medical loan for cancer treatment.
Is a medical loan tax-deductible?
No, a medical loan is not tax-deductible.
Can I get a medical loan without income proof?
Yes, a few lenders might offer an asset-backed medical loan without income proof.
What is the medical loan interest rate in 2026?
As of 2026, medical loan interest rates start from 9.98% p.a. onwards, depending on the credit profile of the applicants.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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Get up to ₹50 Lakhs starting at 9.98%*
Get up to ₹50 Lakhs starting at 9.98%*







