Best Medical Loan In Singapore | The Coverage You Need
Low interest rates
Quick funds in 15 minutes
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Have a Healthcare Emergency?
Here’s How Our Medical Loan Can Help
There is no greater asset than health. However, medical emergencies can be unpredictable and out of our control. This is where getting a loan for medical treatment can help without burning a hole in your pocket. The sole purpose of medical loans in Singapore is to cover medical expenses, including surgeries, treatments, and other healthcare related costs.
What is a Medical Loan in Singapore?
A medical loan in Singapore is a type of personal loan for funding costly bills when insurance or your own finances can’t cover you. But with a loan for medical procedures specifically, you can pay off the cost gradually through manageable monthly instalments. Safeguard your health for the future with sufficient finance for medical procedures.
Why Would You Need a Medical Loan in Singapore?
Manage High Medical Costs
Medical expenses, especially for serious surgeries or treatments, can be very costly. With a loan for medical expenses, you can cover large medical bills in one go and avoid the financial strain of depleting your savings or borrowing from multiple family members.
Flexible Repayment Terms
Medical loans in Singapore come with flexible repayment terms, which can range from one to 12 months (or even 24 months depending on the lender). This flexibility allows you to choose a repayment plan that suits your financial situation, allowing you to repay the cost of your treatment in small sums.
Quick Access to Funds
In emergency situations where timely medical care is crucial, fast access to financing can help avoid delays in treatment. With our quick loan for medical procedures, you can expect to receive your cash in 15 minutes upon signing of the loan contract.
No Collateral Required
Our medical loans are unsecured, meaning you don’t need to provide any collateral, such as property or assets, to secure the loan. This makes medical loans in Singapore more accessible for individuals who may not own property or prefer not to risk their assets for a loan.
Manage High Medical Costs
Medical expenses, especially for serious surgeries or treatments, can be very costly. With a loan for medical expenses, you can cover large medical bills in one go and avoid the financial strain of depleting your savings or borrowing from multiple family members.
Flexible Repayment Terms
Medical loans in Singapore come with flexible repayment terms, which can range from one to 12 months (or even 24 months depending on the lender). This flexibility allows you to choose a repayment plan that suits your financial situation, allowing you to repay the cost of your treatment in small sums.
Quick Access to Funds
In emergency situations where timely medical care is crucial, fast access to financing can help avoid delays in treatment. With our quick loan for medical procedures, you can expect to receive your cash in 15 minutes upon signing of the loan contract.
No Collateral Required
Our medical loans are unsecured, meaning you don’t need to provide any collateral, such as property or assets, to secure the loan. This makes medical loans in Singapore more accessible for individuals who may not own property or prefer not to risk their assets for a loan.
Why Engage 96BM Credit for a Medical Loan in Singapore?
In times of need, particularly when it comes to one’s health, we help by offering finance for medical procedures of all sorts. But medical loans aren’t just our sole speciality, we also offer loan solutions such as monthly loans, wedding loans, and SME business loans in Singapore. We do our best to meet your needs since 2010:
We are well-trained in moneylending services, from having acquired 10 years of experience to being certified in Prevention of Money Laundering and Financing of Terrorism.
As an affordable and reliable money lender, our loans come with simple interest rates starting from 2.27% every month.
Our team cares about your financial well-being, which is why we provide customised loan packages to meet your specific requirements.
1
Apply
Go to our site and send in your loan application.
2
Application Status
You’ll be notified of the status shortly after the loan application is submitted.
3
Disbursement
Get your cash in just 15 minutes after signing the contract.
Medical Loans in Singapore — Frequently Asked Questions
When to use a medical loan in Singapore?
Surgeries or Emergency Medical Treatment
In cases of sudden illness or injury, medical bills can accumulate quickly. But with a loan for medical bills, you can easily cover the cost of emergency treatments such as surgeries, emergency room visits, diagnostic tests, and hospitalisation fees.
Elective Surgeries like LASIK
We sometimes choose to undergo non-urgent medical procedures that may be necessary for better quality of life or long-term health. Examples include knee or hip replacements, cataract surgeries, LASIK surgeries, or weight loss surgeries. Many people don’t have enough savings to cover these costs, making a medical loan a practical option.
Dental Procedures
Most of us undergo dental surgeries at some point in our life. Certain dental treatments, such as braces, dental implants, root canals, or complex restorative procedures, can be expensive, especially if they are not fully covered by insurance. With loans for medical procedures readily available, you can pay off such expenses and receive quality dental care without having to delay or compromise treatment due to financial constraints.
Chronic Illness or Long-Term Care
Developing chronic conditions such as diabetes, heart disease, or renal failure may result in long-term medical treatments, which means costly medical bills in the long run. Through loans for medical expenses, you can finance ongoing treatment costs, including dialysis, prescription medications, or long-term rehabilitation, which can become financially overwhelming over time.
Mental Health Treatment
Mental health care, including therapy, counselling, and psychiatric treatment, is often not fully covered by insurance. A medical loan can help cover the cost of treatment for conditions such as depression, anxiety, post-traumatic stress disorder (PTSD), or addiction treatment, which may require ongoing care and support.
What to look out for before you apply for your medical loan?
Have an estimate of how much the medical procedure will cost
Check with the hospital or clinic for an estimate of how much the medical procedure might cost. Ensure that you borrow a sufficient amount for your medical loan in order to cover the balance that is required to fund the medical procedure. For many, getting a loan for medical treatment is crucial to avoid a lack of funds in paying for the medical procedure they need.
Speak to an experienced loan officer
Our loan officers will guide you through the application process of obtaining a medical loan. With many years of experience under their belt, they will be able to advise you accordingly on the loan amount, the loan quantum, loan tenure, alongside other important factors that you have to know about your medical loan.
Prepare your documentation and apply for the medical loan
Essential documentation such as your latest 3 months of payslip and your identity card or passport is required for the application of a medical loan.
How much can I borrow for my medical loan in Singapore?
Up to six times your monthly income.
Who is eligible for medical loans in Singapore?
Anyone above the age of 18 can feel free to talk to us.
What’s the loan tenure period and interest rates offered?
We’re always open to hearing your preferred terms and conditions, subject to your financial situation and ability to repay the medical loan. Our experienced loan officers will propose a loan tenure that best fits your financial circumstances. Also, our interest rates range from 1% to 4% monthly.
Will extra fees be incurred if I make early repayment for a medical loan?
96BM Credit does not charge any fees if you were to repay the medical loan early.
Can I still apply for a medical loan if I have a bad credit score?
Yes. Speak to us so we can figure out a suitable arrangement for your situation.
What to consider before applying for a medical loan in Singapore?
Before taking a loan for medical bills, it’s important to carefully evaluate your financial situation and the terms of the loan to ensure it’s the right option for you. Medical loans can provide much-needed financial relief for urgent or high-cost healthcare treatments, but like any loan, they come with responsibilities.
The most important thing to consider is the total cost of treatment. Start by understanding the full cost of your medical treatment. This includes not only the procedure or surgery itself, but also any additional expenses, such as hospitalisation fees, post-treatment care (e.g. rehabilitation, medication, follow-up visits) and specialist consultations or diagnostic tests. Knowing the total cost will help you determine how much money you need to borrow and whether a loan will help to cover it all.
How quick can I receive the funds for my medical loan?
Most of our funds are disbursed immediately after signing the contract, which is as fast as 15 minutes.
Cover healthcare costs with ease.
Dealing with a medical emergency out of the blue is no easy feat, especially when you’re low on funds. Trust in 96BM Credit — you’ll find adequate finance for medical procedures here.
