According to 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, applicants should know a few Health EMI Cards before opting for this card.

The following explains every fee and charge associated with this health EMI card.

Bajaj Health Card fee and charges

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

Non-instant 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 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—Customers can Download e-statements from the financial institution’s website free of charge. Alternatively, they can have their statements issued from the local branch of their NBFC at the cost of Rs.50.
  • Annual fee – Rs.117 is charged to those who have not availed of 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.

However, the price of a health card is relatively low compared to the healthcare costs of seeking treatment from competent medical facilities. Thus, you may get a health card online to avail yourself of benefits, which is highly beneficial when 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 utilized to cover the cost of seeking an array of treatment procedures. Some include general surgery, cardiac surgery, diagnostic care, bariatric surgery, vascular surgery, maternity care, ENT treatment, etc.
  • The card can cover bills for the cardholder’s family members, including his/her spouse, parents, children, siblings, etc.
  • The benefits of this card are available throughout India. As a result, they can be used at any pharmacy, multi-specialty hospital, hair restoration clinic, diagnostic care center, dental care clinic, etc., anywhere in the country.
  • The card offers users a flexible tenor of up to 24 months, allowing them to choose their repayment schedule at their convenience.
  • The Bajaj Health EMI Network Card also offers cardholders attractive deals and discounts on services 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 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.