Apply Personal Loan for Eye Treatment in India

Sudden medical issues can be perilous, more because of the high costs involved. 

Vision issues are unfortunately common in India. Many types of research have shown that millions of Indians are suffering from many eye disorders. These include: 

• Red Eyes
• Blurred Vision
• Night Blindness
• Lazy Eye
• Colour Blindness

Many of these disorders can be treated effectively. However, not everyone can afford the treatment. Often situations arise when you get anxious and need to scramble for money to find a solution. One such situation is a medical emergency. It can happen to anyone, regardless of age and background. And when it does, it can get challenging. A personal loan is usually the best solution to meet the high expense of treatment.

Medical Emergencies and Expenses in India

A medical issue is enough stress for you and your family. But, what could be worse is the accompanying financial distress. For example, the sudden lump sum you might need for an operation. Eye disorders are some of the most common health issues in India. 

Eye treatment often proves to be expensive. A single operation can cost you a huge chunk of your monthly income. Even the usual prescribed medication can be costly. Whenever a person opts for testing or treatment, it includes a series of expenses. For example:

• Bed charges
• Doctor’s visits
• Medicines 
• Scans
• Diagnostic tests
• Surgery

But what happens if you don’t have financial support for them? How can you gather the necessary resources at short notice?

Why apply for personal loans for eye treatment?

 As per WHO, vision impairment can have severe impacts. It leads to both personal and economic losses. It results in an estimated annual global productivity loss of about US $411 billion. Healthcare is expensive, and expenses go beyond what health insurance covers usually. 

Many analyses have shown that there are millions of blind or partially blind people here. In 2019, another research was made by LV Prasad Eye Institute. It concluded that by 2030, more than 250 million Indians could be infected with Dry Eye disease. 

The IAPB Vision Atlas reports that 90% of vision loss is treatable. However, not everyone can afford the treatment. Sight loss treatments are held back by expenses. Moreover, finding extra money from the household budget can be difficult. 

Luckily, researchers also say that many eye problems can be prevented. Timely treatment and proper medication ensure your vision’s well-being. 

However, it requires cash reserves to cover immediate funding. To tackle this, you can apply for personal loans for eye treatment.

(IABP – International Agency for the Prevention of Blindness)

Globally, Vision impairment remains a challenging public health problem. It handles an enormous financial burden. Many financing companies have introduced personal loans for eye treatment in India. 

A personal loan for eye treatment will save you from a financial crisis. These loans cover:

• Cost of surgery procedure 
• Hospitalization bills. 
• Expenses of the medicines prescribed. 

 The lenders will provide the cash within one to three days. The lenders assess the eligibility criteria for all individuals. They do this after you have applied for an eye treatment loan.

ELIGIBILITY CRITERIA FOR PERSONAL LOAN

The following are the criteria for a personal loan for eye treatment in India:

• You must be a resident citizen of India
• As for your age, it should be between the ages of 21 years and 60 years. 
• If you are a salaried employee, your income must be at least ₹20,000 per month. Instead, a small annual profit is applicable for self-employed professionals after tax deduction.

Eligibility criteria include:

For Salaried Individuals:

• Minimum Age: 21 years
• Upper age limit: The time of loan maturity must be before the individual is 60 years or has retired. The lenders take whichever comes first into account.

For self-employed: 

•  The credit score should be above 680.
•  The age should be between 24 – 70.
•  Your business experience must be of at least 3 years.

Documents needed for Eye treatment loan:

Like every loan, this one will be granted only after the submission of the required documents. You will need to give the following documents while applying for a personal loan:

• PAN Card
• KYC documents, such as driving license, Aadhaar card, or voter ID card
• Employment proofs
• Last three months’ salary slips or some other income proof
• Last three months’ bank account statements of your account

The next step involves document verification. Documents required include a PAN card, Aadhaar card, driver’s license, or passport. For income proof, the following will be sufficient: 

• Bank statements.
• Salary slips. 
• Income tax returns.

The loan is typically lent with a minimal interest rate. The rate of interest varies with credit scores. A good credit score makes it reasonable to opt for a medical loan. Hence, you should keep in mind to maintain your credit score before applying for a personal loan.

Moreover, medical loans are available either as secured borrowing or unsecured borrowing. Thus, providing security or collateral is not mandatory. This makes it a convenient option during serious emergencies involving permanent vision loss.

Furthermore, you have the option to choose the repayment tenure based on your personal needs, which usually ranges from 12 months to 60 months.

Conclusion

Eye treatment personal loans are not difficult to avail. Anyone of the middle and lower class can think of it as a convenient option and avail it when the situation rises. The financing schemes for eye operations will soon be even easier to get. Obtaining eye treatment loans is one of the best ways to tackle these issues. You can get a better tenure and repay the EMIs without hindrance.

Piramal finance will give you the best service and advice for such needs. We will help you to fulfil your eye treatment loan requirements efficiently. For further details, you can visit our website. It’ll be our sincere pleasure to serve you.