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Personal Loan

How to Meet Medical Expenses with IDFC FIRST Bank’s Personal Loans

28 Feb 2025 by Team FinFIRST
Patient using personal loan for treatment
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Medical emergencies can arise unexpectedly and require urgent financial support to cover hospital bills, surgical procedures, and critical treatments. In such situations, immediate access to funds is crucial to ensure the best healthcare for yourself or your loved ones. While health insurance might cover part of the expenses, there are times when additional funds are required. This is where IDFC FIRST Bank’s FIRSTmoney smart personal loan comes in as a reliable solution for medical financing. With instant approvals, flexible repayment options, and competitive interest rates, FIRSTmoney serves as an ideal option to manage unforeseen medical costs efficiently.

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Why opt for a medical loan?
 

Medical emergencies demand swift action and immediate funding, making a medical loan the go-to solution in times of crisis. Irrespective of whether it’s an unexpected surgery, prolonged treatment, or urgent medical care, arranging funds on short notice can be challenging. A personal loan for medical emergencies offers quick financial relief without requiring collateral, helping you focus on treatment rather than worry about the finances. A FIRSTmoney smart personal loan is tailored to provide instant support, ensuring you can manage medical expenses with ease and confidence.

Timely financial support can make all the difference in a medical emergency. A FIRSTmoney smart personal loan ensures that you get the help you need when it matters the most.

How FIRSTmoney can help you during medical emergencies?
 

FIRSTmoney smart personal loans are designed to provide financial assistance precisely when you need it. Whether it’s for emergency hospitalisations, post-surgical care, or expensive diagnostic tests, you get the features that align perfectly with your medical financing needs:

  1. Instant loan disbursal:

    2.  Get funds credited within minutes after approval to address your urgent medical requirements without delay.

  2. Minimal documentation:

    3.  Apply effortlessly by just displaying your PAN card during the video KYC process.

  3. Zero foreclosure charges:

    4.  Repay your loan early without any penalty, allowing you to close the debt as soon as possible and without incurring any fee.

  4. Competitive interest rates:

    5.  FIRSTmoney offers personal loan interest rates starting from 10.99% per annum, ensuring affordable monthly payments.

  5. Flexible loan tenures:

    6.  Ranging from 9 months to 60 months, providing ease of repayment based on your financial capacity.

  6. Higher loan amounts:

    7.  With instant approvals and disbursals of amounts of up to ₹10 lakhs, you can cover a wide range of medical expenses including surgeries, treatment costs, and post-hospitalisation care. Use the personal loan EMI calculator to find the right loan amount as per your requirements.

  7. Online application process:

    8.  A fully digital process ensures you can apply and receive approval from the comfort of your home anytime.

  8. Greater flexibility for an additional loan:

    9.  If additional expenses arise, you can opt for an additional loan with just a few clicks, avoiding the hassles of submitting a new loan application.

How to get a FIRSTmoney medical loan instantly?
 

Follow these steps to get your loan approved instantly with FIRSTmoney smart loan:

  1. Scan the QR code on the personal loan page to apply for an instant personal loan from FIRSTmoney
  2. Register with your mobile number
  3. Confirm basic details to check your eligibility for a personal loan
  4. Choose your loan preferences and link your bank account
  5. Once verified, receive the loan amount in your account in a few hours

Tips to consider when applying for a medical loan
 

When opting for a personal loan for a medical emergency, consider the following tips to make the best financial decision:

  • Evaluate the total cost: Assess the complete medical expense, including hospital charges, post-treatment care, and medicines, to borrow an adequate amount.
  • Compare interest rates: Always opt for a loan with competitive personal loan interest rates to ensure affordable monthly instalments. FIRSTmoney loan starts at 10.99% to ensure your urgent medical expenses are met affordably.
  • Choose a suitable tenure: Select a repayment period that aligns with your financial situation to avoid any repayment burden. Flexible tenures from FIRSTmoney lets you choose a repayment term that suits you the best.
  • Check eligibility criteria: Ensure you meet the bank's eligibility requirements to expedite loan approval. FIRSTmoney smart loans are available to both salaried and self-employed individuals who have a stable income source.
  • Maintain a good credit score: A healthy credit score can help you avail loans at better interest rates and approval chances. With a CIBIL score of 730 and above, you can conveniently apply for a FIRSTmoney loan.


Conclusion
 

Medical emergencies can be overwhelming, both emotionally and financially. A FIRSTmoney smart personal loan is an excellent solution to manage unforeseen healthcare costs effectively. With its instant disbursal, flexible repayment options, and competitive interest rates, it empowers you to focus on recovery without financial worries.

Apply for an instant cash loan today and take control of your medical expenses!

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

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