Medical Loan in Mumbai

A medical loan from Qbera is an unsecured personal loan that can be used to pay for all your medical expenses in Mumbai. Qbera offers a complete digital application for a medical loan in Mumbai. You can enjoy benefits such as digital verification of documents, online EMI calculation and digital approval as well. It doesn't end there, you can expect the loan amount to be disbursed within 24 hours.  

You might not know that Mumbai has India’s best public-health infrastructures. Yes, we in Mumbai are privileged to get the best medical care if and when the need arises. However, medical care in Mumbai, much like real-estate, is also the most expensive in the country. Since more than 80% of Indians don’t have medical insurance, benefitting from the very best medical care in the country is nearly impossible for a good portion of us. Besides, medical insurance is not necessarily the best option for many of us, particularly because they are expensive, the coverage is minimal and it comes with a lot of conditions that must be met. 

Advantages of Qbera Medical Loan in Mumbai

1. Easy application with minimal paperwork

Bearing the expense of medical treatment in Mumbai can be painful enough. That’s why we want to make your life as painless as possible when it comes to the process of application. The straightforward online application takes a mere five minutes to fill up. Minimal paperwork and jet-fast processing are what we aim for. Once you have applied you just have to upload your bank statements and in a matter of just a day, you could get the amount in your account to do with it what you must. 

2. Flexible loan tenure
We understand that our customers’ needs and capacity to repay the amount can vary drastically which is why we offer flexible terms. Getting a medical loan in Mumbai can provide you with the flexibility of choosing the loan tenure. If your monthly income is sufficient enough to pay higher EMIs and you want to finish the loan as quickly as possible, you can go for a shorter tenure falling anywhere between 6 to 60 months. Conversely, if the EMI seems to hurt your monthly savings, you can extend the loan tenure up to 60 months and pay back without any financial stress.

3. Simple approval

Unlike most banks which will only approve loans if you are an employee of certain companies, Qbera is more accommodative and will accept applications from employees of most start-ups as well. Applicants are just expected to be employed and earning Rs. 20,000 or above to be eligible for a personal loan from Qbera.

4. One day approval

Application, approval and disbursement of your funding can be done in just a day!

5. Quick Disbursal

The main reason to apply for a personal loan in the event of a medical emergency is the fact that you need money quickly. Applying for a medical personal loan in Mumbai, from Qbera, means that you will be able to get the amount that you need for your medical emergency in a matter of just a day, once you have applied and submitted all the required documents.

6. Complete financing

Having a loved one in and out of the hospital will take a hit on your finances because there are lots of expenses that you will have to deal with. Everything from diagnostic tests, travel, hospital stays, special diet, medicines etc. will have to be accounted for. You can avail a lump sum (₹25,000 to Rs. 10 lakhs) with a medical loan from Qbera to pay for all of this together.

7. Cheaper than credit card

If you had to use your credit card to pay the medical bills initially, you can take out a personal loan from Qbera to pay off the dues on your credit card. This way you can avoid the unfavourable features on the credit card bills and take advantage of our flexible tenures and favourable features.

8. No collateral

If you take a medical loan in Mumbai from us, you will not need to put up your valuables as collateral.

9. Don’t depend on anyone

Our personal loan will ensure that you get the money that you need on demand so that you don’t need to rely on anyone in your time of need.

Why should you choose Medical Loan in Mumbai over a health insurance?

• Pre-existing conditions are not covered
  In case, at the time of taking the medical insurance you have a pre-existing health condition, (or complication arising with the condition), the related expense will not be covered by most medical insurance companies. However, if you take an instant medical loan from Qbera, there is no limit to how you want to use it. It does not include any pre-existing conditions which cannot be covered.
   

• Diagnostic tests are not covered
  In order to diagnose a disease, doctors will need to do multiple diagnostic tests at various stages of treatment. These tests are not cheap and they are usually not covered with most medical insurance schemes which mean that you will have to come up with the sum each time. In that case, a personal loan for medical emergency can be a great help. 

• Reimbursement period
  There is usually a waiting period involved before you get to make a claim for a medical insurance policy. The waiting period can range from one month and go up to even 48 months for certain diseases. What this means for you is that you will have to look out for other ways to fund the expense while you wait for the reimbursement. As you would have experienced, money is most difficult to come by in times of need. Thus if medical insurance cannot help you out at these difficult spots, what is the point of it? On the other hand, if you get a medical loan instead of a health insurance plan, the money will be with you at the time of emergency. No need to wait for weeks or months to get the amount in your bank account.
  
  
• Post-hospitalization expenses are not covered
  As discussed earlier, a medical loan in Mumbai can be used for all the expenses related to hospitalisation, which also includes post-hospitalization charges, follow-up doctor visits and medicines, and these can add up to quite a large sum.

How to Apply for a Medical Loan in Mumbai via Qbera

Obtaining a medical loan via Qbera is as easy as purchasing a pair of shades. It’s a simple five-step process:

1. Simply log on to Qbera.com, fill in the application form 

2. Upload your bank statement on the website

3. Receive an offer from us within 4 hours

4. A representative will come to you, at your convenience, to collect the documents

5. Within 24 hours, your money will be transferred to your account.

Interest Rate

The competitive interest rates that Qbera offers you are on par with the current market rates (between 11.99-24%). The rate of interest that we offer depends on a borrower’s income, CIBIL score, employer, age etc. Qbera collects information from your application form and various other data sources to create a personalized loan offer for you.

Fees and other charges

We believe in complete transparency when it comes to your loan. We provide you with all related information (possible fees and charges) at the time of availing the loan so that you will not be unpleasantly surprised. We assure you that no hidden charges will raise it’s head once you are our customer. The processing fee is just 2-4% and the exact amount will depend on the borrowed amount. 

Absolute confidentiality

Your privacy is of utmost importance to us. We do not share any of your confidential details with any third party. Apply for a medical loan now, get digitally approved and get the money within 24 hours.