A secured medical loan is one secured by a collateral (assets belonging to the borrower in order to decrease the risk assumed by the lender). This collateral may be fortified if the borrower fails to meet the loan requirements.
Secured medical loans applications are more quickly accepted due to a smaller perceived risk to the medical lender. Interest rates associated with secured medical loans can be lower than unsecured loans. Also, the amount of medical loan that can be obtained is higher in case of a secure loan. Secured medical loans are more accessible to those with bad or no credit history.
Approval of your medical loan depends upon your credit rating, your employment and financial status, your income, your outgoings, and the level and type of collateral.
We hope this page will assist you in finding the medical loan you are looking for.
Overseas Surgery Medical Loan Approval Guidelines