Before borrowing, check whether the hospital offers a no-cost EMI arrangement and what your health insurance will actually settle — a cashless claim is always cheaper than a loan. Where a loan is needed, a personal loan at 11% to 16% is far cheaper than paying on a credit card at 42%.
Before you borrow
- Compare the total payable, not the EMI — a longer tenure always looks cheaper monthly and costs more overall
- Check the processing fee, typically 1% to 3%, which is deducted before the money reaches you
- Ask whether prepayment is allowed and what it costs, since most personal loans are fixed rate
Run your numbers in the EMI calculator before you commit to anything.