2 min read
05 Jan 2021

There are times when your medical insurance might not be enough for all your medical expenses. Most standard medical insurance policies do not cover certain cases, such as infertility treatments. Thus, many couples facing fertility issues often have to spend a lot of money to avail themselves of the right fertility treatment.

The right way to finance your fertility treatment is to opt for a personal loan for IVF. The best IVF loans will allow you to get the appropriate treatment without undergoing any financial stress. Many public and private sector banks in India offer personal loans at affordable interest rates. However, private sector banks and non-banking financial institutions (NBFCs) are quite flexible regarding their customers’ needs and concerns.

Here’s how you can apply for a personal loan for IVF treatment in India. Before you choose IVF financing, it is prudent to use an personal loan EMI calculator to figure out just how much loan amount you must take while handling your monthly expenses smoothly. Here are a few factors you need to consider when opting for IVF loans.

Additional Read: Instant approval, quick disbursal on medical emergency loans

Factors you need to consider when opting for IVF loans


The eligibility criteria for personal loan for IVF treatment is the first hurdle you must surmount. You can use the online personal loan eligibility calculator to check your eligibility. The eligibility conditions include the age (between 21 years and 80 years*), minimum monthly income (above Rs. 25,000/ month for tier 1 cities and Rs. 20,000/ month for other cities), and a minimum CIBIL score of 685 or higher.

However, first-time loan customers are often given relief from the credit score criterion if they have a stable work history and income. Apart from these factors, the applicants must also submit specific documents such as income proof for the last year, ITR slips for the previous three months, work experience proof for the last three years, and KYC documents. These documents are required to ensure that the individual opting for a personal loan for IVF treatment can comfortably repay the loan while managing their other expenses.

Loan amount

When opting for medical loans for IVF, you need to be quite careful about the total loan amount. A high loan amount will mean a higher EMI, and it may become challenging for you to manage your repayments as well as your day-to-day expenses. Therefore, you should opt for a loan amount that suits your repayment capability and helps you with post-treatment medication and processes. Such an approach will ensure that you are always on top of your finances.

Additional Read: Finance Your Medical Needs Instantly With A Bajaj Finserv Emergency Loan

Interest rates and tenor

Interest rates for the best IVF loans usually start from 11% to 11.99%. However, they can also go up to 25% if you opt for an excessively large loan amount or if you have a poor credit score. Most lending institutions disburse medical loans for IVF in the range of Rs. 2 lakh and Rs. 40 lakh.

Additionally, the institution determines the tenor of the loan according to the individual's credentials. In most cases, the tenor is flexible as the borrowers also have the option to repay the loan in advance if they have the funds at their disposal. If you foreclose your loan for IVF treatment in India, you can avoid the remaining interest by paying a lower prepayment penalty.

Timeline for loan disbursal

Borrowers can get their personal loan for IVF treatment disbursed within 24 hours*, provided they fit the eligibility criteria. Many lending institutions also claim to disburse the best IVF loans within a couple of hours of the initial application. However, this doesn’t usually happen with banks, as they typically take a minimum of 24 hours to verify your original documents and eligibility criteria. Applicants who have already been in touch with the institution about their upcoming financing needs, can get the disbursal within 48 hours or so. Either way, you will usually get a reply from the institution within seven days about the status of your application.

Summary: Tackling any medical condition is not easy, and it’s even tougher when a couple is going through fertility issues. A personal loan for IVF treatment is a boon to couples struggling to become parents. You can easily avail yourself of the best IVF loans in India, provided you meet the eligibility criteria. These loans are available in amounts ranging up to Rs. 25 lakh and come with flexible tenors and interest rates. Remember, that the deal you get from your lending institution depends largely on your credit history and your CIBIL score.

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