As per a report published in The Hindu in June 2019, India’s inflation of health care services stood at a staggering 8.01%, second only to the country’s meat and fish industry. In such a scenario, seeking competent healthcare is quite financially challenging for India’s middle and lower-income groups.

Nonetheless, the availability of EMI health cards from leading financial institutions like Bajaj Finserv has considerably alleviated the financial difficulties for families belonging to these income groups. However, there are a few Health EMI Card that applicants should be aware of before opting to avail this card.

Following is an elaboration on every fee and charge associated with this health EMI card.

Bajaj Health Card fee and charges

Applicants can opt for two types of health EMI network card from Bajaj Finserv. These are –

Non-insta Health EMI Network Card for Rs.589

Insta Health EMI Network Card at Rs.707, for an additional Rs.118, levied for instant activation of the card.

Following is a breakdown of the Bajaj Health Card charges that one has to incur to avail the benefits of this card –
  • Joining fee – Rs.589
  • Fee for instant activation – Rs.118
  • Fee for add-on card – Rs.199
  • Charges for cheque bounce/NACH – Rs.450
  • Charges in case of mandate rejection – Rs.450. This charge is levied if applicants fail to register a new mandate form within 30 days from the date of rejection of the previously submitted mandate form.
  • Penal interest – if an individual fails to pay their monthly EMI amount, he/she will attract penalty interest at the rate of 4% of the outstanding EMI amount. The penalty will be charged from the date of default till the time of receipt of EMI.
  • Statement/document charges – Download e-statements from the financial institution’s website. Customers can do so free of cost. Alternatively, one can have their statements issued from the local branch of their NBFC at the cost of Rs.50.
  • Annual fee – A fee of Rs.117 is charged to those who have not availed any loan from their Health EMI Network Card in the preceding year. The duration of a year is calculated as 12 months from the previous year’s validity month.

The health card price, however, is quite low compared to the health care costs one has to incur for seeking treatment from competent medical facilities. Thus, you may get a health card online to avail benefits as this is extremely beneficial when it comes to securing one’s finances against unforeseen medical expenses.

Benefits of the Bajaj EMI Network Card

Availing this card helps to cover health care costs with ease by converting bills into EMIs that can be paid over a tenor ranging up to 24 months.

Following are a few benefits imparted by the Health EMI Network Card –

  • It comes with a pre-approved limit of up to Rs.4 lakh, which can be utilised to cover the cost incurred from seeking an array of treatment procedures. Some of them include general surgery, cardiac surgery, diagnostic care, bariatric surgery, vascular surgery, maternity care, ENT treatment, etc.
  • The card can be used to cover bills for the cardholder’s family members as well, including his/her spouse, parents, children, sibling, etc.
  • The benefits of this card are available on a pan India basis. As a result, they can be used at any pharmacy, multi-speciality hospital, hair restoration clinic, diagnostic care centre, dental care clinic, etc. anywhere in the country.
  • The card offers a flexible tenor of up to 24 months to users, allowing them to choose the repayment schedule as per their convenience.
  • The Bajaj Health EMI Network Card also offers attractive deals and discounts to cardholders on services availed from partner network pharmacies, labs, etc.
With such benefits and more, the health card is one of the most beneficial financial tools one can have at their disposal to counter the rising cost of healthcare in India. Nonetheless, it is also crucial for individuals to learn about the Bajaj Health Card charges before applying for the card.