How to Use a Personal Loan to Pay for Emergency Medical Treatment in Stages

How to Use a Personal Loan to Pay for Emergency Medical Treatment in Stages

A medical emergency loan can pay hospital bills as each stage of treatment falls due. With a Flexi Dropline Loan, Bajaj Finance charges interest only on the amount you withdraw, not on the full limit.
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Rs. 40,000 - Rs. 75 lakh

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In summary

Treatment such as surgery followed by therapy is billed in stages over months, not all at once. A medical emergency loan through a Bajaj Finance Personal Loan can match that pattern when you choose the Flexi Dropline Loan.


  • Hospitalisation, surgery, diagnostic tests and follow-up care can each add to your medical expenses at different stages of treatment.
  • Planning for these costs in advance can help you prepare for payments as they arise, rather than arranging the entire amount upfront.
  • Loan amounts range from Rs. 40,000 to Rs. 75 lakh, subject to eligibility, with funds potentially reaching your account within 24 hours*, subject to approval and verification.
  • With the Flexi Dropline Loan, you pay interest on the amount utilised rather than the full sanctioned limit, while the facility charge ranges from Rs. 1,999 to Rs. 18,999, inclusive of applicable taxes.

Get the hospital's cost estimate by stage before you apply. Then compare a Flexi Dropline Loan with a Term Loan for your medical emergency loan.

How does a medical emergency loan work?

A medical emergency loan is an unsecured personal loan used for hospital and treatment costs, repaid in equated monthly instalments (EMIs). Bajaj Finance places no end-use restriction on its Personal Loan, so you can use it for deposits, surgery, medicines or follow-up care.


The online application for a medical emergency loan takes about 5 minutes to complete. Funds may reach your account within 24 hours*, subject to approval, verification and applicable terms.

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Why does a Flexi Dropline Loan suit staged treatment?

A Flexi Dropline Loan suits a medical emergency loan for staged treatment because you withdraw each payment when it falls due and pay interest only on what you have used. A Term Loan pays the full amount at once, so interest starts on all of it from month 1.


Part-prepayment on a Flexi Dropline Loan carries no extra charge. If an insurance claim pays out later, you can put it straight into your medical emergency loan to cut the interest.

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What will a medical emergency loan cost?

On a Rs. 4 lakh Flexi Dropline limit at an illustrative 14% per annum, the interest grows only as you withdraw: Rs. 1,750 in month 1 and Rs. 4,083 once Rs. 3.5 lakh is used. The full limit would cost Rs. 4,667 a month.


Worked example: Prakash in Visakhapatnam

Prakash is 45 and works as a salaried port operations manager in Visakhapatnam. He earns Rs. 1,30,000 a month and has a CIBIL score of 780. His mother's treatment needs 3 payments over 5 months, totalling Rs. 3.5 lakh after insurance. He takes a medical emergency loan as a Flexi Dropline Loan with a Rs. 4 lakh limit at an illustrative 14% per annum.


Monthly interest = amount used × annual rate ÷ 12 ÷ 100. Only the amount withdrawn attracts interest, so unused limit costs nothing. Figures are rounded to the nearest rupee, and the EMI also includes principal as per the schedule.


StageAmount used (Rs.)Interest for that month (Rs.)
Month 1 (surgery deposit)1,50,0001,750
Month 3 (first therapy cycle)2,50,0002,917
Month 5 (second therapy cycle)3,50,0004,083
Full Rs. 4 lakh limit, for comparison4,00,0004,667

Last updated: 16th October, 2026


For comparison, a Term Loan of Rs. 3.5 lakh at the same rate costs Rs. 16,805 a month over 24 months (2 years), with Rs. 53,308 in total interest from month 1. The processing fee on Rs. 3.5 lakh is up to Rs. 14,455. Prakash chooses the Flexi Dropline Loan for his medical emergency loan, because 2 of his 3 payments fall due months later.


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.

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What are the eligibility criteria and documents required?

To be eligible for a medical emergency loan through a Bajaj Finance Personal Loan, you need to meet the criteria listed below:


CriterionRequirement
NationalityIndian
Age21 years to 80 years.
Employed withPublic, private, or multinational companies (MNCs).
CIBIL Score650 or higher.
Customer profileSelf-employed or Salaried

*You should be 80 years or younger, at the end of the loan tenure.

Last updated: 16th October, 2026


Meeting these criteria does not guarantee approval, which depends on eligibility, verification and credit assessment. No collateral or guarantor is required.

You may need the following documents, subject to your profile and application:


Document categoryAccepted options
KYC proofAadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
Identity proofPAN card, Real-time image / photograph
Employment proofEmployee ID card, Letter of Allotment of Accommodation Issued by Employer
Income proofSalary slips — last 3 months, Bank account statements — last 3 months
OthersPension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt

Not every applicant needs every document. Confirm the final list of required personal loan documents during your application.


Check your eligibility for personal loan with phone number and OTP → Apply online in 5 minutes → Receive funds within 24 hours*

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What interest rate and charges apply?

Bajaj Finance interest rates and charges are listed below:


ChargeAmount
Interest rate10% to 30.5% per annum, subject to applicable terms and customer eligibility
Processing feeUp to to 4.13% of the loan amount, inclusive of applicable taxes
Bounce chargesRs. 700 to Rs. 1,200 per bounce
Penal chargeUp to 36% per annum on the overdue instalment
Part-prepayment and foreclosure (Term Loan)Up to 4.72% of the principal, inclusive of applicable taxes
Part-prepayment (Flexi Dropline and Flexi Hybrid Loans)No charge
Flexi facility chargeRs. 1,999 to Rs. 18,999, inclusive of applicable taxes
Annual maintenance (Flexi Dropline Loan)Up to 0.295% of the Dropline limit
Annual maintenance (Flexi Hybrid Loan)Up to 0.472% in the initial tenure; up to 0.295% in the subsequent tenure

Last updated: 16th October, 2026

*Terms and conditions apply.


Charges are disclosed in the applicable product information and loan documents, so read your Key Fact Statement before you accept. Add the processing fee to the interest when you compare offers, and see the personal loan interest rates and charges page for details.

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When is a Term Loan the better choice?

A Term Loan is the better choice for a medical emergency loan when the full bill is due at once, such as a single surgery. It has no Flexi facility or annual maintenance charges, and its EMI is fixed from month 1. The table compares the options.


SituationSuitable optionTrade-off
One bill, due at onceTerm LoanPart-prepayment charges of up to 4.72%
Payments in stages over monthsFlexi Dropline LoanFlexi facility and annual maintenance charges
Insurance covers most of the billSavings for the gapSmaller emergency fund
Cashless claim approvedNo loan neededLimits and exclusions in the policy

Last updated: 16th October, 2026


Check your health insurance first, since a cashless claim can remove the need for a medical emergency loan. Borrow only the gap that insurance and savings leave.

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How do you apply?

You apply for a Bajaj Finance Personal Loan online in five steps:

  1. Check loan eligibility: Enter the required loan amount and repayment period, then click "CHECK LOAN OFFER".
  2. Enter personal details: Enter personal, financial and employment details to receive a personalised offer.
  3. Loan offer: Review the offer details and adjust the amount or tenure to suit the applicant's needs.
  4. KYC verification: Complete KYC and verify bank details.
  5. Talk to loan specialist: The application is submitted and an executive contacts the applicant about the next steps.

The process may differ for new and existing customers, and some customers may need to provide additional documents. At the offer step, choose the Flexi Dropline Loan if your treatment is billed in stages.

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Key offerings: 3 loan types

  • Flexi Hybrid Loan
  • Flexi Dropline Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30.5% p.a.

Processing fees

Up to 4.13% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal feeUp to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.
*Renewal Fee to be collected only for 3 subsequent financial years.
 
**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

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Frequently asked questions

Speed and process

Cost and repayment

How fast can I get a medical emergency loan?

The online application takes about 5 minutes to complete, and funds may reach your account within 24 hours*, subject to approval, verification and applicable terms. Keep your Know Your Customer (KYC) documents, salary slips and bank statements ready, since missing documents can delay a medical emergency loan. Apply as soon as the hospital gives you its estimate.

The loan is credited to your bank account, and you pay the hospital from there. Ask the hospital for an itemised estimate by stage before you apply, so you withdraw the right amount at each stage. Keep every bill and receipt, since you need them for any insurance claim and for planning repayments on your medical emergency loan.

It is cheaper when payments are spread over months, because you pay interest only on the amount used. It adds a Flexi facility charge of Rs. 1,999 to Rs. 18,999 and annual maintenance of up to 0.295% of the Dropline limit. For a single bill paid at once, a Term Loan avoids those charges, so match the medical emergency loan to how the hospital bills you.

Yes. A Flexi Dropline Loan carries no part-prepayment charge, so you can repay as soon as the claim is settled. A Term Loan carries part-prepayment charges of up to 4.72% of the principal, inclusive of applicable taxes. Prepaying early cuts the interest on your medical emergency loan the most, since interest is charged on the outstanding amount.

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Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000