Meet the Spine Surgery Cost in India With a Quick Personal Loan

The spine surgery cost in India starts from ₹1.4 lakhs, going up to ₹5 lakhs, depending on your diagnosis. This can be for a variety of ailments, including the following:

• Disc Replacement
• Foraminotomy
• Kyphoplasty
• Microdiscectomy
• Scoliosis Surgery
• Spinal Fusion
• Traumatic fractures 

In addition, the cost of surgery, patient care and medicare can add to your financial burden. In some cases, you may require urgent additional funds despite having savings available in the first place. That’s where personal loans can offer a flexible solution. 

Read on to learn how to get a loan for surgey, how to compare the best options and more. 

Applying for a Personal Loan for Surgery

The cost of medical procedures can drain you physically and mentally. Here are the steps to follow for applying for an instant loan to cover the spinal cord surgery cost in India.

Choose the Right Lender

For this, compare financial institutions offering the lowest interest rates and maximum loan amount. This way, you can arrange funding without worrying about the repayments. Ideally, applying for a loan online will speed up the process. 

Check the Eligibility Criteria

Before completing the application, ensure you fit the lender’s eligibility criteria. For this, verify the minimum requirements mentioned on their official website. You can also find the list of documents to help you prepare and speed up the application process. 

Fill the Form

You need to provide your details to the lender online, which include the following:

• Name 
• Occupation 
• Residential address 
• Required loan amount 
• Mobile number 
• Banking details 
• Email address

After submitting these details, you must choose your preferred loan amount and repayment tenure. 

Submit the Documents 

After completing the form, provide lenders with essential paperwork to prove your eligibility. These documents verify your identity and financial capacity to repay the loan. This includes identity documents, such as Aadhaar cards and income documents, like salary slips or ITRs. 

Wait for Disbursal 

Once approved, the lender will deposit the amount in your designated bank account. In most cases, digital lenders disburse the amount within a few minutes. However, depending on the lender’s policy, it can vary up to a few hours. 

Factors to Consider for a Loan

Taking out a loan is a big financial decision. To make an informed choice, consider several key factors. Here are some points to consider when applying for loans for surgery. 

Compare the Interest Rates

Since the spine surgery cost in India is already very high, it is best to avoid the burden of high interest. Therefore, while choosing a lender, prioritise the lowest interest rate to keep the loan affordable.

Consider the Approval Speed

Another point to remember when applying is the approval and disbursal speed. The spine is a delicate organ and you don’t want to delay the surgery due to lack of funds. Quick disbursal allows you to save precious time.

Know the Maximum Amount

When you opt for a surgery, hospitals give you an estimated cost of the  procedure. However, the price may vary depending on the post-op care required by the patient. This is why you must have additional funds available to avoid last-minute hassle. Therefore, consider the lender with the maximum loan amount.

Choosing the Right Terms

Your interest rate is proportional to tenure. This means that the interest rate increases with the tenure. A longer tenure will lower your EMI but increase your interest rate. Similarly, a shorter tenure can increase your monthly burden but you will save more on interest.

Check for Foreclosure 

If you have funds available, you can close the loan to avoid paying high interest. Therefore, choose a lender that gives you the option to close the loan early without a hefty penalty for your financial benefit.

Whether it is for surgery or any other medical expense, you can get a personal loan. One such option is the Fibe Instant Personal Loan, offering ₹5 lakhs for all your personal needs.

With Fibe, enjoy minimum documentation, flexible tenure and budget friendly interest rate. You can also foreclose without paying any additional charges. Download the Fibe Personal Loan App or go to our website to apply online and secure a loan for surgery. 

FAQs on Spine Surgery Cost

How to get ₹2 lakhs immediately for spine surgery?

You can opt for an online personal loan from a digital lending platform like Fibe to get funds immediately. 

What document is required for a loan for spine surgery?

Most lenders offering instant medical loans require minimum documents such as:

• Identity proof such as an Aadhaar card, voter ID, driving licence and passport
• Income proof such as the last six months’ bank statements and the last three months’ salary slips
• Address proof such as voter ID, ration card, passport and utility bills 

Who is eligible for a loan for spine surgery?

Any Indian resident between the ages of 21 and 55 years is eligible for an instant medical loan. Additionally, steady employment with a good credit score is crucial. Lenders also have a minimum salary criterion, which you need to meet to get approval.

What are the uses of a loan for spine surgery?

It allows you to provide additional funds for planned or unplanned medical requirements, including the following- 

• You can get a loan for surgery to cover the cost of any operation
• Since personal loans do not have an end-use restriction, you can use the extra money to cover related medical expenses, such as medicine and tests

How much time does it take to approve a loan for surgery?

It depends on your lender and your credit profile. If you apply with a sizeable and steady income with a good credit score, then you may get approval faster.