Healthcare is one of the most cost-intensive services in India. Nevertheless, it is something that one simply cannot avoid. In this regard, an individual’s savings and medical insurance plan may not always be sufficient when obtaining quality health care. Under such a circumstance, one needs to rely on additional assistance from another source. While most individuals turn to personal loans, a better option is to consider the Health EMI card.

What is a Health EMI card?

When you desire premium health care and financing it is a vital issue, these health cards can come to your rescue. It is similar to a credit card in some ways, especially when you consider that such a card comes with a pre-approved limit. However, instead of using the credit to fund the purchase of commodities, this card allows users to fund their medical requirements only.

Another vital feature of this health card is that consumers can choose to divide the entire medical cost into manageable no-cost EMIs. Thus, instead of bearing the financial strain of paying your health care fees at once, you can slowly clear the dues without overburdening your financial planning.

EMI health card eligibility and documents

The Health EMI Network Card is available to existing Bajaj Finserv EMI Network cardholders. If you are not already a member of this network, you can avail such cards by visiting partner outlets, such as hospitals and clinics. Other health card eligibility are as follows that you should look on if planning to apply for one-

  • Applicant’s age should be between 23 and 60 years.
  • Applicants must have a regular source of income.

Before you seek quality health care with such cards, you must ensure completion of its documentation process. Existing Bajaj Finserv customers do not need to submit additional documents to avail this card. New consumers, on the other hand, need to complete their KYC process. For them, necessary documents include –

  1. Aadhaar Card
  2. PAN card
  3. Duly signed ECS mandate
  4. Cancelled cheque (in case IMPS is unsuccessful)

Application procedure for EMI health cards

If you are interested in such modes of healthcare lending, here is a complete application procedure that you need to follow –

  • Step 1: Visit the official Bajaj Finserv website and navigate to the ‘Health EMI Network Card’ section within this site.
  • Step 2: Select “apply now”.
  • Step 3: An existing member of the Bajaj Finserv family member needs to provide the mobile number linked with their other cards from the same NBFC.
  • Step 4: Eligible consumers can view their pre-approved limit. They must then clear the cost of this card through an online payment.
  • Step 5: The last step of this health care loan application process involves opening the Bajaj Finserv Wallet app. From here, one can check the status of their health EMI card.

Features of a health EMI card

Cardholders are liable to seek quality health care using this instrument. Listed below are a few features that make the usage of such cards beneficial –

1.  No cost EMI functionality

India’s medical inflation is double that of its retail inflation. This means that the cost of even minor treatments can be excessively high, depending on the hospital and procedures involved. Most individuals are unable to pay the lump-sum medical bill amounts, as they tend to be in lakhs.

This EMI health care card allows one to convert their entire treatment cost into easily manageable monthly payments. Further, this conversion into EMIs does not draw any additional expenses on the part of the cardholder. With such a facility, individuals holding these cards can freely seek the best health care services without overburdening their finances.

2. Two types of health EMI cards available

Bajaj offers two distinct types of health financing cards, namely, the Insta Health EMI Network Card and the Non-insta Health EMI Network Card. The former bears a price tag of Rs.707, while the latter is priced at Rs.589 only.

Regardless of the card you pick, these are essential instruments to ensure financial security during medical emergencies. A single card can fulfil the medical needs of an entire family, including your spouse, children and parents. Make sure you get the card today!