So, How does Medical Loan work?

At times when you need funds at a short notice, LoanTap is the solution for you. We offer you flexible repayment plans and longer loan tenures to repay your Medical Loan. Pay Interest amount for the first 3 months followed by fixed EMIs. NOTE: The final repayment option available depends on the information you provide and is at discretion of the company.

Why take Medical Loan from LoanTap?

Life can be uncertain and can catch you off guard when you are least expecting it. Unforeseen circumstances like medical emergencies most often come without a warning. While you could be medically insured for these emergencies, many of the insurances do not cover certain illnesses, treatments, surgeries, bills etc. Our Medical loan ensures full coverage of all the expenses you incur during such times.

Instant approval & disbursal

Instant approval & disbursal

Easy online process for loan sanction and fast disbursal within 24-36 hoursin 24-36 hours
Flexible Repayment Option

Flexible Repayment Option

Flexibility to switch to EMI free loan, enhancement and accelerated repayment option after 6 months of disbursal
Higher Loan Amount

Higher Loan Amount

Option to choose from amount ranging from INR 50,000 to INR 10,00,000 basis your requirement
Longer Loan Tenure

Longer Loan Tenure

Flexibility to choose longer loan tenure from 6 months to 60 months making EMIs more affordable
Minimum documents

Minimum documents

We collect only what is basic minimum documents for all our custom personal loan products
Transparent Process

Transparent Process

No hidden charges, No pre-payment charges and secured processes
Basic Eligibility Criteria for availing Medical Loans with LoanTap
  • Individuals with a minimum monthly income of INR 30,000
  • Indian citizens/residents who are 21 years and above
Basic Documents required for availing Medical Loans with LoanTap
  • PAN Card
  • Salary Slips (Last 3 months)
  • Salary Account Bank Statement  (3/6 months)
  • Address Proof

Personal Loan Product Suite

No matter what your requirement, use LoanTap’s Special Purpose Loan to fulfill all your needs.

House Owner Loan

Rental Deposit Loan

Holiday Loan

Wedding Loan

Medical Loan

Credit Card Takeover Loan

Two wheeler loan

Electric Two wheeler loan

Premium Bike Loan

Personal Loan

EMI Free Loan

Personal Overdraft

Advance Salary

Flexible Repayment options

Final installment options for a loan will be decided based on your profile and inputs.

EMI Free

Interest only payment every month (40% lower monthly installment versus regular EMI) coupled with Bullet Payment every 3/6 months towards Principal. Ideal when: You receive additional income or an incentive every 3-6 months.
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Step Up

Interest only Payment for 3 months followed by fixed EMI. Gives you space to manage expenses post an event. Ideal when: Heavy expenditure is involved in a particular event such as Wedding or a Medical Emergency.
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Term Loan

Repayment done via Fixed Equated Monthly Installments, where EMI=Principal + Interest. Each Installment reduces both interest and Principal amount. Ideal when: You know the precise Loan Amount needed and your income is consistent.
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