Given the uncertainties of life, a medical emergency can strike at any time. Sometimes, a medical procedure is planned, such as an IVF treatment, cosmetic surgery, or dental implant. With a medical loan from India’s non-banking financial company (NBFC), Hero FinCorp, you can rest assured that you can easily finance the procedure without any financial shortfall. These loans are picks for managing medical expenses. It comes to the rescue, especially when you don’t have health insurance or if it does not cover the procedure you require.
Read on to learn more about Hero FinCorp medical loans and how they help prioritise your health.
An Overview of the Hero FinCorp Medical Loan
Hero FinCorp offers medical loan, a variant of Personal Loans without collateral. If you face a medical emergency or need a procedure your health insurance does not cover, these loans can finance these expenses without hassle.
A Personal Loan from Hero FinCorp does not require any collateral or security. The NBFC offers it primarily based on your credit rating, professional profile, income, debt-to-income (DTI) ratio, and repayment capacity. You can use them to cover various medical costs, including hospital bills, diagnosis and treatment costs, medicines, surgeries, rehabilitation, therapy, etc.
Expenses to Cover with a Medical Loan
Hero FinCorp medical loans cover various expenses. These include the following:
- Diagnostics: Specialised diagnostic tests cost dearly. A single MRI scan may cost between Rs 5,000 to 20,000 and even more for complicated procedures. In some cases, you may need multiple scans, adding to the cost of other diagnostic tests necessary for your treatment.
- Hospitalisation: This includes several expenses that your health insurance might not cover, such as special meals, room upgrades, dietician visits, medicines, therapies, doctor fees, etc.
- Post-Operative Care: Once the surgery is done, you may require several physiotherapy sessions or special medical equipment that might go beyond budget. Each session may cost thousands, and you may need them for several months.
- Cosmetic Procedures: Cosmetic procedures help improve your looks or keep you youthful for longer. Treatments like hair removals, face lifts, and Botox procedures are more accessible now than ever. You may require dental-related procedures to align your teeth or improve your smile. These procedures cost significantly, which you may cover with a medical loan.
Benefits of Borrowing a Loan from Hero FinCorp
People often use Personal Loans for medical emergencies from Hero FinCorp to cover their medical expenses. Here are a few benefits they offer:
- No Collateral Requirement: A Personal Loan is unsecured, eliminating the need to pledge an asset as collateral for approval.
- Ample Loan Amount: Hero FinCorp offers an ample loan amount of up to Rs 5 Lakh, providing much-needed financial support to face tough times.
- Competitive Interest Rates: Hero FinCorp offers attractive interest rates of up to 19% per annum, making it an affordable funding option to cover medical bills.
- Easy Application Process: The loan application process is 100% digital and paperless, ensuring timely funding access.
- Instant Approval: Hero FinCorp’s digital loan process ensures instant approvals and quick disbursals. There is no scope for delays due to physical visits and paperwork.
- Flexible Repayment: The loan repayment tenure can extend up to 36 months. By using an EMI calculator, you can adjust the tenure to suit your financial situation, ensuring a more convenient repayment process.
Eligibility Criteria to Apply for a Loan at Hero FinCorp
Hero FinCorp has straightforward eligibility criteria you can fulfil without hassle. The eligibility conditions to fulfil include the following:
- Citizenship: Indian citizenship
- Age: 21-58 years
- Occupation: Salaried employees and self-employed professionals
- Minimum Income: Rs 15,000 pm
- Work Experience: Six months for salaried and two years for self-employed
Stepwise Procedure to Apply for a Loan at Hero FinCorp
Hero FinCorp has a 100% digital loan procedure you can complete from your smartphone. These are the simple steps to follow:
- Download the Hero FinCorp instant loan online app from the Play Store.
- Choose your desired loan amount (up to Rs 5 lakh) and preferred EMI plan.
- Enter your Name, Income, Loan Purpose, and PAN Card number.
- Verify your identity by completing the KYC process.
- Enter your bank account details for loan disbursement.
- Get real-time loan approval.
- Digitally sign the eMandate and loan agreement.
- The approved loan amount will be credited directly to your bank account.
Do you need a medical loan to cover your planned or unplanned medical expenses? Download the instant loan online app from Hero FinCorp and get funding of up to Rs 5 Lakh. With funding access to cover medical expenses, you can prioritise your and your loved ones’ health without compromising the quality of care.
Disclaimer: The information provided in this blog post is intended for informational purposes only. The content is based on research and opinions available at the time of writing. While we strive to ensure accuracy, we do not claim to be exhaustive or definitive. Readers are advised to independently verify any details mentioned here, such as specifications, features, and availability, before making any decisions. Hero FinCorp does not take responsibility for any discrepancies, inaccuracies, or changes that may occur after the publication of this blog. The choice to rely on the information presented herein is at the reader’s discretion, and we recommend consulting official sources and experts for the most up-to-date and accurate information about the featured products.
