Hair transplant on EMI

Many clinics offer to spread the cost over monthly instalments. That can help, but the EMI is a loan, and a loan has its own costs. Get the full price in writing first, then decide how to pay.

What you would be financing

Our estimates for FUE in India, before GST:

To see what your grade usually needs, use cost by grade or the cost estimator. GST, medicines and PRP are usually extra, so add them before you work out an EMI.

How clinic EMI works

The clinic usually arranges a loan with a bank or a finance company. The lender pays the clinic, and you repay the lender every month. Your agreement is with the lender, not the clinic, so read the lender's papers, not only the clinic's leaflet.

No-cost EMI is not free

In 2013, the Reserve Bank of India (RBI) said that "the very concept of zero percent interest is non-existent". It warned that the interest is often passed on to the customer as a processing fee.

So compare two numbers: the price if you pay now, and the total you will repay on EMI. Ask whether the clinic gives the same price for cash.

What to check before you sign

Ask the lender for the Key Facts Statement (KFS): it shows the full yearly cost of the loan (APR), and a charge that is not on it cannot be added without your consent.

Check:

• the cash price and the EMI price, side by side
• the APR on the KFS
• the processing fee and any down payment
• the total you will repay
• the charges for a late or early payment
• what happens to the loan if the surgery is postponed or cancelled

If the KFS is not offered, ask for it.

Other ways to pay

• A personal loan from your own bank. Compare its APR with the clinic's offer.
• Credit card EMI. The KFS rule does not cover cards, so ask the card issuer for the fee and the total you will repay.
• Waiting and saving. A hair transplant is planned surgery, not an emergency.

Does health insurance pay for a hair transplant?

Usually not. Most Indian health policies use the standard wording set by the insurance regulator (IRDAI), which excludes "cosmetic or plastic surgery or any treatment to change appearance unless for reconstruction following an Accident, Burn(s) or Cancer or as part of medically necessary treatment to remove a direct and immediate health risk to the insured." So a transplant for pattern hair loss is normally not covered.

A transplant to restore hair after an accident, burns or cancer treatment may be different. Your own policy wording decides, so check with your insurer before treatment. See hair transplant on a scar.