Key features of the Jivan Sanjivani Loan:
- Loan amount: The loan amount varies depending on the nature of the illness or accident and the estimated medical expenses.
- Interest rate: The loan is typically offered at a subsidized interest rate, making it more affordable for the borrower.
- Repayment terms: The loan can be repaid in installments over a specified period.
- Processing fees: There may be processing fees associated with the loan.
- Collateral requirements: The loan may or may not require collateral, depending on the lender's policy and the borrower's creditworthiness.
How to apply for the Jivan Sanjivani Loan:
- Visit a participating bank or financial institution: There are designated banks and financial institutions that offer the Jivan Sanjivani Loan.
- Submit required documents: You will need to provide proof of identity, address, income, and medical diagnosis.
- Complete the loan application form: Fill out the loan application form accurately and provide all the necessary information.
- Submit supporting documents: Submit any additional documents that may be required, such as medical bills or estimates.
- Await approval: The lender will review your application and supporting documents and notify you of the decision.
Documents required for the Jivan Sanjivani Loan:
- Identity proof (Aadhaar card, passport, driving license)
- Address proof (utility bills, rent agreement)
- Income proof (salary slips, income tax returns, bank statements)
- Medical diagnosis certificate
- Medical bills or estimates
- Other documents as required by the lender.
Eligibility: The loan is available to Indian citizens who have been diagnosed with a serious illness or have suffered a major accident.