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Tata Capital > Blog > Personal Use Loan > Should You Use a Personal Loan to Pay for Cosmetic Surgery?

Personal Use Loan

Should You Use a Personal Loan to Pay for Cosmetic Surgery?

Should You Use a Personal Loan to Pay for Cosmetic Surgery?

Cosmetic surgeries require making appointments with your surgeon, selecting a date for surgery, and even aftercare. All of these have costs associated with them, and depending on the procedure, they can amount to large sums of money.

And if you don’t want to burn a hole into your pocket and are considering getting a personal loan to finance your surgery costs, this is the article for you! Lenders disburse these loans quickly. The best part? You can now apply for one from the comfort of your home.

Still not sure about getting a loan? We’ve got you. Here are the top reasons to get a personal loan for cosmetic surgery.

1. No collateral required

Being unsecured credit, these loans don’t require collateral. Hence, you never have to worry about mortgaging your assets as collateral to get a loan.

2. Loans for multiple reasons

Unlike other loans, you can use personal finance for any reason- no questions asked. Need some financial help for surgery? Instant funds for medical bills? Pay off hospital bills? You name the expense, and this loan can easily cover it for you.

Additional Read - Top advantages of taking a medical loan in case of an emergency

3. Attractive interest rates

When you’re getting a loan to fund medical expenses that can run into lakhs, you want to keep your EMIs as small as possible. So, choosing a lender offering attractive personal loan interest rates is crucial because it helps you do just that.

4. Minimal eligibility requirements

You can meet the personal loan eligibility requirements of most lenders easily. The parameters are well-defined and usually include age, CIBIL score, job stability, income, work experience, etc. However, remember that the exact requirements can vary slightly depending on your lender. Besides, with a high CIBIL score, you can qualify for competitive rates of interest easily.

5. Easy documentation

Gone are the days you spent large amounts of time keeping your documents to get a loan. Nowadays, the document required primarily include proof of identity and credentials like Aadhar card or Voter ID, proof of residence, income documents like salary slips of the last three months, etc.

6. Minimal processing time

Need funds for the surgery quickly? Herein lies another benefit of personal finance options- quick processing times followed by instant disbursals. Want access to funds earlier? With an excellent credit profile and spotless repayment history, you can qualify for pre-approved loan offers as well. Here, the lenders evaluate your creditworthiness beforehand, making the loan approval process a lot quicker.

Additional Read - How A Personal Loan Can Help You in Financing Your Hair Transplant Surgery

Over to you

Given the benefits of this personal financing, it’s clear that applying for a loan to fund your surgery is a wise choice. But, you can go a step further and apply for a loan with a trusted lender. And you can put an end to your search at Tata Capital! We offer tailor-made collateral-free loans for all your financing needs at competitive interest rates and flexible repayment options.

Want to see if a particular repayment plan suits you? Use our personal loan EMI calculator and check your EMIs payable for yourself!

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