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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 66,000 employees, the businesses of ABCL have a nationwide reach with over 1,742 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,742
No. of Employees
66,000
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 6 Lakh Cr
Consolidated Lending Book
INR 1.90 Lakh CrCorporate Governance Policies
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Medical Emergency Loan
- Attractive interest rates
- Easy & flexible repayment options
- Easy application process with quick sanctions
Reasons To Get a Medical Emergency Loan from ABC
Collateral-free
There is no need to pledge any asset to secure the loan. The funds are sanctioned based on your eligibility parameters—that’s all!
Flexible Repayment Period
Choose a repayment tenure of 84 months to ensure affordable EMIs for easy repayments.
Predictable EMIs
With a fixed interest rate, you can figure out your EMIs and plan your budget for hassle-free repayments
Quick Sanctions
Get the funds transferred to your account within 24 hours of application.
Facility to add a co-applicant
Adding a co-applicant to the medical emergency loan can increase your eligibility. You can get a higher loan to meet expensive treatment costs and bills.
Interest Rates Available for
Medical Emergency Loans
Find out the interest payable on the Medical Emergency Loan to plan your repayments effectively.
Loans up to 12 months| Loan Type | Interest |
|---|---|
| The Short Term Reference Rate (STRR) | 19.45% p.a. w.e.f.from March 1, 2024 |
Loans more than 12 months| Loan Type | Interest |
|---|---|
| The Long Term Reference Rate (LTRR) | 20.45% p.a. w.e.f. from March 1, 2024 |
Get A Medical Emergency Loan In 5 Easy Steps
Who Can Apply For Medical Emergency Loan?
Find out if you are eligible for applying for a medical emergency loan
Salaried
Self-employed Professional
Self-employed Non - Professional
Eligibility Criteria for Medical Emergency Loans
Are you eligible for a medical emergency loan? Check whether you meet the criteria.
Documents Needed
- Proof of identity and address Passport / Aadhaar Card/ Voter's ID / Driving License/ Job Card issued by NREGA / Registration certificate / PAN card (PAN Card only as identity proof)
- Proof of incomeSalary slip for the last 3 months showing all deductions and Form 16
- Bank statement where income is credited Last 6 months
- Proof of other income Last 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16
Eligibility criteria
* A higher age limit is applicable at the time of loan maturity.
Revision of Reference Rates for determining Interest Rates on loans given
ABCL has increased its Long-Term Reference Rate (LTRR) by 20 bps to 20.45% p.a. with effect from March 1, 2024. The interest rate on the floating rate loans of tenor greater than 12 months that are linked to the LTRR will be revised upwards by 20 bps. The spread / margin on the said loans will remain unchanged.
ABCL has increased its Short-Term Reference Rate (STRR) by 20 bps to 19.45% p.a. with effect from March 1, 2024. The interest rate on the floating rate loans of tenor up to 12 months that are linked to the STRR will be revised upwards by 20 bps. The spread / margin on the said loans will remain unchanged.
Fees and Charges for Medical Emergency Loans
| Charge Type | Amount |
|---|---|
| Processing fees | Up to 4% of the loan sanctioned amount |
| Cheque Return charges | ₹1000 + GST per instance |
| Penal charges (charges levied for non-payment of overdue amount) | 3% p.m. (36% p.a.) on the overdue amount for the delayed period |
| Penal charges for non-compliance with material terms and conditions (covenants / stipulated conditions) mentioned in the Sanction Letter / Loan Agreement, wherever applicable | 2% p.a. on the outstanding loan amount till the date of compliance |
| Charges for cancellation of Loan |
4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | Rs. 50 per instance for Consumer and Rs. 500 per instance for commercial CIBIL/Credit Report |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan re – schedule charges | ₹5000 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Insurance Premium | As per Actual if applicable |
| Pre – closure Quote | ₹1000 + GST per instance |
| Any other charges | As per Actual if applicable |
| Duplicate No Due Certificate issuance charges | Rs. 500 per instance |
| Foreclosure Charges |
For Term Loan:
Upto 4% of the principal outstanding amount For Flexi Loan: Upto 4% of the total withdrawable amount Conditions: Foreclosure is allowed only after 12 months from the date of disbursal of loan. |
| Part Pre-payment charges |
For Term Loan:
a) NIL charges – if part pre-payment is equal to 20% of principal outstanding amount b) Upto 4% on remaining loan amount – if part pre-payment is greater than 20% of principal outstanding amount Conditions: a) No pre-payment is allowed in first 12 months from the date of disbursement b) Part pre-payment amount should be equal to OR greater than total of 3 EMIs For Flexi Loan: a) No charges for payments through mobile app/portal. b) Part pre-payment of loan facility toward limit reduction is not available |
Customer Satisfaction Stories
Hear from our happy customers what they have to say about their experience with us.
Mr. Hiralkumar Ashokbhai Patel
Aditya Birla Finance Customer
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
Mr. Pramod Kumar Saini
Aditya Birla Finance Customer
I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.
Aditya Birla Housing Finance Customer
Belapur, India
Different financial needs, different loans, one app - ABCD
For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.
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Range of loan options for different needs
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Quick sanctions and disbursals
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FAQs on Medical Emergency
A Medical Emergency Loan is a Personal Loan which offers instant funds for meeting medical emergencies. The loan is sanctioned without collaterals and offers affordable repayment options.
The Medical Emergency Loan covers all types of medical emergencies, including injuries, illnesses or infections.
Aditya Birla Capital processes the Medical Emergency Loan quickly and sanctions the funds as soon as possible. You can get approval on the loan within hours.
The Medical Emergency Loan requires a credit score of 750+. If your score is low, your application will be rejected. You can improve your credit score and then apply for a loan.
If you have a good credit score and you add a co-applicant to the loan, you can secure a higher amount in a Medical Emergency Loan.
You can take the Medical Emergency Loan for any family member’s medical needs. You will be the applicant, and funds will be sanctioned to your bank account. You can use the sanctioned funds to pay your parents' medical bills.
You should have a steady income from a job or business to apply for a Medical Emergency Loan.
A personal loan can be used for medical emergencies to cover the cost of ongoing medical treatments or chronic conditions. It is multipurpose and can be used for any financial need.
The loan is multipurpose and can cover any type of financial requirement. Thus, it will cover the cost of pharmacy and diagnostic tests.
If you have a good credit score and negotiate with the lender, you can reduce the medical emergency loan interest rate.
You can take an emergency loan in India online or offline through Aditya Birla Capital. However, you should fulfil the eligibility criteria to get the funds sanctioned.
Aditya Birla Capital Medical Emergency Loan has no minimum monthly income criterion. You should have a steady source of income to qualify for the loan among other parameters.
Your eligibility parameters will determine the maximum loan amount. You can use the eligibility calculator to find this amount.
You can get a personal loan for a medical emergency even when you have a health insurance plan. In fact, the loan can cover the medical costs your health insurance plan doesn’t cover and help alleviate your financial strain.
You can apply for an emergency loan in the following ways -
• Online - Apply through the website or mobile application of Aditya Birla Capital
• Offline - Visit the branch of Aditya Birla Capital and apply for the loan offline