A Term Loan suits a single medical emergency bill, while a Flexi Dropline Loan suits staged costs, such as surgery followed by therapy. With a Flexi variant, you withdraw from a limit as costs arise and pay interest only on the amount used.
Part-prepayment on Flexi variants carries no extra charge. That helps if an insurance reimbursement arrives later.
Worked example: Nalini in Hubballi
Nalini is 38 and works as a salaried college lecturer in Hubballi. She earns Rs. 60,000 a month and has a CIBIL score of 759. Her husband needs knee surgery, and after insurance, a medical emergency gap of Rs. 1.8 lakh remains. She borrows at an illustrative 14.5% per annum.
EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]. P is the loan amount in rupees, R is the annual rate divided by 12 and by 100, and N is the tenure in months. The formula spreads the principal and interest into equal monthly payments, so early EMIs carry more interest and later ones more principal. All figures are rounded to the nearest rupee.
| Tenure | Monthly EMI (Rs.) | Total interest (Rs.) | EMI as share of salary (%) |
|---|
| 24 months (2 years) | 8,685 | 28,438 | 14.5 |
| 36 months (3 years) | 6,196 | 43,048 | 10.3 |
Last updated: 21st October, 2026
The 36-month option lowers the EMI by Rs. 2,489 but adds Rs. 14,610 in interest. The processing fee on Rs. 1.8 lakh is up to Rs. 7,434. Nalini picks 24 months (2 years), so the medical emergency loan ends sooner.
What can delay approval: a CIBIL score below 650 or existing EMIs that take up a large share of your income. Names or addresses that do not match across documents, and more than one loan application in the same month, can also slow it down.
Facing a medical emergency bill? With a Bajaj Finance Personal Loan, you can borrow Rs. 40,000 to Rs. 75 lakh, subject to eligibility. Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.
