Medical Loans

With the surging medical emergencies in India since last decade, having a health insurance or a dedicated saving for health check-ups, surgeries, and unforeseen operations, has become mandatory for a common man. We are pretty sure many of you may not be even holding those backups. Because medical emergencies are ideally what we never want to think of and we have never taken any precautions to prevent them. They simply occur and we rush to the hospital (not to forget, always the best hospital in our city). What comes as a major blow is the huge bill amount that you are charged and suddenly you realize – you are short of funds! And this doesn’t end here, you still hold the list of medicines prescribed by the doctor, in your hand. You do not want to keep worrying about arranging the finances while your loved ones are hospitalized and need you the most. That is when an instant medical loan comes into the role. You may also regret not going for any of those health insurance plans earlier. But you need not bother now, as instant medical loans are the quick solution to your cash crunch concerns. Young souls in India now consider it a smart move to apply for a medical loan than going for health insurances which even expire after a certain period of time.

What is an Instant Medical Loan?

A medical loan is an instant personal loan for those who cannot afford to instantly pay those huge bills charged for a heart surgery, a dialysis, or even a regular full-body health check-up. Instant medical loans have proved to be boons in such circumstances. You can apply for an instant loan online depending upon the type of company you work for, your net salary, your residence and various other factors.

How does an Instant Medical Loan Work?

Medical loans are provided by non-banking finance companies (NBFCs), banks, government funds, Fintech companies, and P2P lenders. Why not go for a medical loan when all you have to worry about, is your closed one’s health and leave the finances to the lender. Qbera offers instant medical loan to salaried individuals in the age group of 23 - 55. A medical loan from Qbera can be used to make payments for all those hospitalisation charges, operation fees, and all the medicinal expenses. 

Instant loan for medical emergencies: Benefits and Features

Take a quick look at some of the benefits and features of medical loans:

1. Instant loan: Unlike traditional loans, an instant loan from Qbera can be availed within 24-48 hours. It has the simplest online application process and offers digital approval as well.
2. No collateral: Qbera loans are unsecured. So, it does not ask for any assets to provide an instant medical loan.  
3. Lowest Turnaround-time: Qbera aims at offering instant medical loans to its customers as fast as possible. Once you submit all the documents, Qbera uses its proprietary risk model to assess your repayment capacity in future and reverts within few hours with a loan offer. If your credit profile and personal information prove to be strong, you can expect the loan amount in your bank account within 24 hours.  
4. Minimal documentation: At Qbera, you will need the least documents. That too after your loan is digitally approved.  
5. Flexible repayment options: We understand your repayment capacity can vary from time to time. So you can choose to repay through higher EMIs in less time or lower EMIs in a longer time. We allow our customers to choose a tenure from 6 to 60 months to repay the loan. 

Eligibility Criteria for Instant Medical Loan at Qbera

We recommend you to meet the following criteria to obtain an instant loan online from Qbera:

1. You must be in the age group of 23-55 years.

2. You must be a salaried employee with a net monthly income of at least Rs. 20,000.

3. You must not have any financial defaults in the past 24 months.

4. You must be residing in any of the following places: 

• Bangalore
• Pune
• Delhi/NCR
• Chennai
• Mumbai
• Hyderabad
• Ahmedabad
• Jaipur

Documents Needed for Instant Medical Loan at Qbera

The loan process will even be faster if you keep the following documents ready:

• Aadhar card
• PAN card
• 4 cheques from your salary account
• Current address proof
• Permanent address proof (in case the address in your Aadhar card is different from your current address)

Interest Rate & Other charges

APR at Qbera ranges from 11.99% to 24%. The administration fee is very minimal that ranges within 2-4%. However, your personal information, work experience, past EMI payments will be the major factors in deciding the final quote. 

Why choose Medical Loan over Health Insurance?