The in vitro fertilisation (IVF) procedure typically involves several steps, which may vary slightly depending on the specific clinic or hospital. Here is a quick run down to the IVF process:
The woman begins taking medication to stimulate the ovaries to produce multiple eggs. This medication is given through injections, which are administered at home.
The eggs are retrieved from the ovaries using a needle and a small ultrasound-guided tube. This procedure is performed under sedation and takes about 20-30 minutes.
The sperm is collected from the man on the same day or the day before the egg retrieval.
The eggs are fertilised with the sperm in a laboratory dish. This can be done through traditional insemination or with the use of intracytoplasmic sperm injection (ICSI).
The fertilised eggs (now embryos) are grown in the laboratory for 2-6 days.
The embryos are transferred to the woman's uterus using a small, thin catheter. This protocol is painless and only requires a few minutes to complete.
Two weeks after the embryo transfer, a pregnancy test is done to determine if the procedure was successful.
The woman will have regular follow-up appointments with her doctor to monitor the pregnancy.
It is worth mentioning that some clinics might have additional steps or variations, like freezing of embryos for later use, Pre-implantation Genetic Testing (PGT) or use of Donor eggs or sperm.
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IVF does not fall under daycare procedure. The process is broken down into small stages, requiring frequent doctor visits. In India, the cost of this medical treatment ranges from Rs 75,000 to Rs 2,00,000. The expense varies according to how advanced the hospital is.
Different lenders provide IVF loans with varying interest rates. However, due to the high level of competition, there is not much of a difference. However, keep in mind that even minor variations of 1% can significantly increase the personal loan interest payable at the end of the loan term. By visiting any of the loan aggregator websites, you can compare offers of various lending institutions in one place.
After you have narrowed your search to a few lenders based on their offerings, the next step is to review the eligibility requirements. Begin by visiting the official website of each of your preferred lenders and navigating to the IVF financing eligibility section. To make things easier for you, here is a quick rundown of what most personal loan lenders require.
Following eligibility, the next critical step is to review document requirements. The lender requires six months of income proof, as well as proof of identity and address. If you are a salaried applicant, a bank account statement in which your salary is credited, a salary slip, or income tax documents such as Form 16 will suffice.
If you are self-employed, depending on the amount of the IVF loan, you may be required to provide income tax returns, an audited balance sheet, or a current account statement.
The last step is to submit an application. You can apply for an IVF loan online or in person. The former is more convenient because it allows you to apply from any location with a few finger taps. The steps involved in an online application are as follows:
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IVF treatment is not among the most expensive medical procedures, but it does consume a significant portion of your savings. However, with personal loans, you don't have to think twice about experiencing the joys of parenthood. The maximum loan amount available not only covers the entire procedure, but you can also use the balance for other purposes. Furthermore, you have the option of closing your loan at any time between 12-60 months.
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