How A Personal Loan Can Help You in Financing Your Hair Transplant Surgery?

Hair loss at a young age is common among many Indians, especially men. Once the hair starts thinning fast, it’s hard to bring it back, which is why many people turn to a hair transplant. The challenge is that hair transplant costs can be pretty high, and since it’s considered a cosmetic procedure, it's usually not covered by insurance. Due to this, many people consider taking a Personal Loan for their hair treatment so they can manage the cost without delaying the procedure.

What is a hair transplant?

Hair transplantation is a cosmetic surgery procedure in which hair follicles from bald-resistant areas of the scalp, usually the back or sides of the head, are transplanted to areas experiencing hair loss. This method helps restore natural hair growth in thinning or bald patches.

Different types of hair plant treatment in India

In India, you will find three types of hair transplant procedures. These are listed below:

Follicular Unit Extraction (FUE)

This is the most popular FUE hair transplant procedure in India. During this treatment, hair follicles are transplanted from the back and sides of your head to areas of hair loss in small groups of one to four. Since FUE doesn't involve deep cuts, healing is faster, and scarring is minimal. The hair transplant cost for this procedure can range from Rs 2,00,000, making it a significant investment for those looking to start their hair restoration journey.

Follicular Unit Strip Surgery (FUSS)

The FUSS hair transplant is ideal for those with moderate to severe baldness in certain areas. In this procedure, a strip of hair is taken from a donor area and implanted into the bald region. Unlike other methods, FUSS allows the transplantation of multiple grafts in a single session. After the procedure, the donor area is closed with sutures, and healing usually takes a few days. The hair transplant cost varies depending on the extent of baldness, ranging from Rs 35,000 to Rs 3,00,000, making it essential to explore flexible financing options if needed.

Scalp Reduction

Due to its high cost, the scalp reduction hair transplant is less commonly chosen. In this procedure, the doctor surgically removes the bald area and replaces it with a hair-bearing scalp. This method is known for tightening the scalp and addressing thinning hair. The surgery costs for scalp reduction start at around Rs 50,000 and can go up to several lakhs, so many people consider EMI options or a Personal Loan for their hair transplant to manage the expense.

Benefits of a Personal Loan for a hair transplant

In India, more people are considering hair transplants on EMI due to the easy availability of Personal Loans. Let’s look at some of the benefits:

Higher loan value

You can undergo a top-quality hair transplant at advanced clinics without worrying about the hair transplant cost. At Hero FinCorp, you can get a loan of up to Rs 5 Lakh that can help you cover not just the surgery cost but also post-surgery medical expenses, medicines and consultation fees. With flexible repayment options and EMI facilities, managing the cost becomes easier, allowing you to focus on your hair restoration journey without any financial stress.

Flexible tenure

The most appealing aspect of the loan is the flexible repayment options. Lenders offer a hair transplant EMI plan that lets you choose a tenure that fits your budget. You can use a Personal Loan EMI Calculator to see how much EMI you can manage by adjusting the principal amount and tenure. Keep in mind that a more extended EMI plan may lead to higher Personal Loan interest rates, as the total interest payable increases with an extended term.

Competitive interest rate

The Personal Loan interest rates for a hair transplant loan are determined after evaluating your credit score and financial behaviour. If you have a history of timely payments, a low debt-to-income ratio, and responsible personal finance management, you're more likely to get approval at a competitive interest rate. Maintaining a good credit score can make your loan application process smoother and help you secure a Personal Loan for your hair at favourable terms.

Flexible usage

After a hair transplant, additional funds are often needed for post-surgery medicines, follow-up consultations, and other medical expenses. If you've had a FUSS procedure, costs may also include medication for the donor area. A Personal Loan offers easy financing and usage flexibility, allowing you to cover all these expenses. This makes managing the total hair transplant cost simpler.

Eligibility criteria for a Personal Loan for a hair transplant

You can apply for a Personal Loan with Hero FinCorp if you fulfil the following conditions.

How to Apply for a Personal Loan for Hair Transplant

You can easily apply for a Personal Loan in a few steps to cover your hair transplant costs and manage expenses smoothly.

• Go to the Personal Loan section on the Hero FinCorp website or loan app.
• Click on the 'Apply Now' button.
• Enter your mobile number and verify the OTP sent to it.
• Choose the loan amount that you need.
• Verify your KYC details.
• Click ‘Submit’.

Hair Transplant Financing Options Other Than Personal Loans

If a Personal Loan isn’t suitable, there are other ways to manage the hair transplant cost. EMI plans let you spread payments over several months, making it easier to afford the procedure. Some credit cards may offer no-cost EMI or low-interest options for medical treatments. Medical loans are also available, designed specifically for surgery and related expenses. These options give flexibility, allowing you to focus on your hair restoration without worrying about paying the full amount upfront.

What should you consider before getting a Personal Loan for a hair transplant?

Applying for a Personal Loan for a hair transplant without assessing your finances and other factors can lead to unnecessary debt. Here's what to consider:

• Check if you are left with at least 50-60% of your income after managing your existing EMI plan, if any. Try to clear smaller debts first to improve your chances of qualifying for a low-interest loan.
• If you earn from sources other than your primary job, include this in your loan application.
• Compare lenders to find the best Personal Loan interest rates and the flexibility they offer in repayment options and fund usage.

Also Read: A Step-by-step Guide to Getting Unsecured Personal Loans

Conclusion

A Personal Loan for your hair transplant can help cover any medical procedure, not just hair restoration. Its competitive interest rates, higher loan amounts, flexible repayment options, and the freedom to use funds make it a preferred choice for hair treatments and cosmetic surgery procedures. Before applying, check your credit score and debt-to-income ratio, and compare lenders to secure the best deal. This ensures you can manage the hair transplant cost comfortably while staying on track with your finances.

Frequently Asked Questions

What is the average cost of a hair transplant in India?

The average cost is Rs 35,000 to over Rs 3,00,000, depending on procedure type and number of hair follicles transplanted.

Can I get a Personal Loan specifically for hair transplant surgery?

Yes, lenders like Hero FinCorp offer Personal Loans with flexible EMI options for hair transplant surgery.

What are the eligibility criteria for a Personal Loan for a hair transplant?

You should be between 21-58 years with a good credit score, stable income, low debt-to-income ratio to apply for a Personal Loan with Hero FinCorp.

How long does it take to get a Personal Loan sanctioned for a hair transplant?

Once you complete the loan application process online with Hero FinCorp, you can get approval within 10 minutes.

Can I use a Personal Loan EMI calculator for hair transplant financing?

Yes, an EMI calculator can help you calculate your monthly instalments and create a suitable EMI plan.

Are there flexible repayment tenure options for hair transplant loans?

Yes, lenders like Hero FinCorp offer flexible repayment options, allowing you to choose a suitable tenure.

Is hair transplant financing available on EMI without a credit card?

Yes, with Personal Loans, you can avail of the EMI facilities for hair transplant procedure.

Do hair transplants qualify for medical loans or health insurance coverage?

Hair transplants are typically not covered by insurance, but medical loans or Personal Loans can fund the procedure.

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