SaveIN Revolutionizes Healthcare Financing with Zero-Cost EMI for Outpatient Treatments

"Split your entire expenditure into no cost EMIs or 0% interest monthly payment plans—just like how people buy a mobile phone or air conditioners." That's how Jitin Bhasin, Founder & CEO of SaveIN, describes the revolutionary approach to healthcare financing that's transforming how Indians access private healthcare. With 15+ years in banking and financial services, Bhasin is tackling one of India's most critical challenges: making quality healthcare accessible and affordable through embedded financing.

SaveIN has built India's largest healthcare QR code network with 6,500+ facilities across 100+ cities, enabling patients to access treatments ranging from dental procedures and hair transplants to IVF and cosmetic surgeries—all with zero-cost EMIs and no down payment. The platform completes credit assessments in 30 seconds to 3 minutes, offering credit limits up to ₹5 lakh.

This isn't just about loans—it's about democratizing access to quality healthcare by making it as affordable as buying a smartphone on EMI.

From Banking to Building India's Healthcare Finance Revolution

Jitin Bhasin's journey into healthcare fintech wasn't accidental—it was the culmination of 15+ years in banking, insurance, and financial services, combined with entrepreneurial experience.

"I started my career with insurance, I had a long stint in banking, and since 2015 I've been building SaveIN," Bhasin shares. "I'm a second-time entrepreneur. SaveIN is my second entrepreneurial venture. Before SaveIN, I also launched another mobile app-based lending company and a non-bank finance company."

This deep financial services expertise gave him unique insights into India's credit landscape. But what motivated him to focus specifically on healthcare?

The Core Philosophy: Healthcare as Economic Foundation

Bhasin's vision for SaveIN emerged from a fundamental insight about India's economic aspirations.

"India has reached a stage where all of us want to explore the best possible outcomes in personal health and wellness," he observes. "30 to 40% of people in India borrow money for medical purposes. If India has to become a $5 trillion or $10 trillion economy, Indians have to continue to perform at their peak. Only then can we drive the right outcomes on GDP scores."

Understanding India's Healthcare Crisis: The Numbers Don't Lie

Before building SaveIN, Bhasin conducted deep research into India's healthcare landscape. The statistics he uncovered painted a stark picture of systemic inadequacy.

"India continues to be a laggard amongst even the BRICS economies where the target for healthcare spending in India at a government level is probably around 2 to 2.5%," Bhasin explains. "Currently only 1.3% of GDP is being spent on healthcare from a government perspective."

The Infrastructure Gap: Concentration Crisis

The problem isn't just funding—it's distribution.

"When it comes to hospitals and availability of hospitals in India, most hospitals are concentrated in seven states of India," Bhasin reveals. "This I'm talking about inpatient healthcare. There are two aspects to healthcare: one is when you get hospitalized, and the second aspect is preventive healthcare."

This concentration creates massive accessibility challenges for millions living outside these seven states. The preventive care market, while growing, remains equally underserved by government infrastructure.

The Private Healthcare Reality: Why Public-Private Partnership Is Inevitable

Bhasin recognized that India's healthcare future lies in a public-private partnership model, similar to the education sector.

"Private is here to stay," he asserts. "The more we grow, the more people will become ambitious to get the best possible outcomes in private care."

Even in countries like the UK with national health systems, accessing timely care remains challenging. "Affordability in healthcare is a very critical subject," Bhasin emphasizes. "There comes the need for financing and what we call as embedded financing."

What Is Embedded Financing? The SaveIN Difference

Bhasin defines embedded financing as "money which is available at the point of transaction. It is money that is made available to a consumer when the consumer is undertaking a particular transaction—and in this case, it would be a healthcare transaction."

This fundamental differentiator sets SaveIN apart from traditional lending apps. "There are two forms of payments or financing healthcare expenditure: one is insurance-based financing or payments, and the other is out-of-pocket expenditure," Bhasin explains.

"In India, out-of-pocket expenditure towards healthcare continues to be more than 70%. Financing is a necessity—it is the need of the hour to allow people to have access to money when they need to invest in timely healthcare."

The Strategic Focus: Why Outpatient Treatments?

SaveIN made a deliberate strategic choice to focus on outpatient treatments rather than hospitalization. Bhasin explains the logic behind this decision.

"Hospitalization events are very few in an individual's lifetime," he notes. "Data states that an individual does not spend more than 20 or 25 days inside a hospital throughout a lifetime."

In contrast, outpatient treatments are frequent and ongoing. "Today Indians require preventive care much more than what they require hospitalization," Bhasin observes.

The Frequency Advantage: Why Outpatient Makes Business Sense

Bhasin illustrates why outpatient treatments represent a massive opportunity.

"These are domains where people are anyway spending billions of dollars every year," he points out. "You may be going to a gym every day. You may go to a dentist every quarter or every 6 months at least. You may encounter a dermatology problem. You may want a particular cosmetic treatment."

All of these events are frequent in nature—and all of this spending is out-of-pocket because insurance doesn't cover it.

India's Largest Healthcare QR Network: 6,500+ Facilities

SaveIN has built an impressive distribution network through QR code installations at healthcare facilities.

"We have India's largest QR code network in healthcare payment," Bhasin states proudly. "We have more than 6,500 healthcare facilities in over 100 cities of India, and we have installed QR codes at each of these facilities."

The company has partnered with leading brands across categories:

• VLCC: India's largest Dermatology brand
• Kloone, Turtledoc: Dental partners
• Eugenics, DHI: Hair transplant partners
• JAA: Fitness partner
• Dr. Batra's: Homeopathy partner
• 1,000+ Dermatologists
• 1,000+ Gyms

The Technology Stack: 30-Second Credit Assessment

SaveIN's rapid credit assessment capability represents a significant technological achievement in healthcare financing.

"Between 30 seconds to 3 minutes by the watch, we will undertake credit assessment on this customer," Bhasin explains. "If the customer conforms to the credit assessment parameters that we have set in real time, we will allocate a credit limit."

Machine Learning-Powered Credit Assessment

SaveIN has built sophisticated algorithms to assess creditworthiness in real time.

"We have built a machine learning-based algorithm or model to assess customers in real-time basis," Bhasin reveals. "Traditional credit assessment information like credit bureaus or other information about the customer—we undertake assessment basis 200 odd parameters that we collect from the customer in real time in a completely consent-driven architecture."

The system arrives at "the right credit limit for the customer commensurate to where they are in their financial stage in life."

SaveIN vs Traditional Lending Apps: The Key Differences

Bhasin emphasizes that SaveIN is fundamentally different from personal loan apps like KreditBee or Navi.

"Platforms like KreditBee give personal loans where the money gets credited to the bank account of the borrower," he explains. "They do not know for what exact purpose the customer is borrowing this money, and they will charge interest."

The Credit Card Innovation: 12-Month Zero-Cost EMI on Existing Cards

One of SaveIN's most innovative features allows customers to use their existing credit cards with extended repayment terms.

"We have more than 15 credit cards which can be used on SaveIN," Bhasin explains. "You don't have to borrow a fresh loan all the time. You can use your State Bank of India credit card using the SaveIN mobile ecosystem and you can convert your spends into zero-cost EMIs for 12 months."

"If you swipe your credit card on a POS machine at a dentist, you have to pay within 30 days. But if you pay using SaveIN, we allow you to use your same credit card and split that money for 12 months."

Default Rates and Repayment: Healthcare Borrowers Are More Responsible

Given healthcare's sensitive nature, how does SaveIN handle defaults? Bhasin explains their approach and reveals surprising data about repayment behavior.

"Any loan transaction is a financial transaction, and the responsibility is on the customer to repay," Bhasin acknowledges. However, SaveIN has a unique advantage: "We don't focus on hospitalization business. People who are borrowing money through SaveIN are largely healthy—they're trying to achieve superior health outcomes."

The Inherent Advantage of Healthcare Financing

Bhasin identifies a crucial psychological factor that reduces overborrowing.

"If I give you no-cost EMIs, you will not get two teeth extracted instead of one just because I give you money without interest," he observes. "People who borrow for healthcare outcomes understand what they're borrowing."

Additionally, increased financial literacy in India has made people more aware of the importance of maintaining healthy credit scores. "There's a lot of sensitization in India about credit scores and healthy credit scores," Bhasin notes.

Data Security and Privacy: ISO 27001 Certified

Healthcare financing deals with sensitive personal and medical information. How does SaveIN ensure data security in a market where data breaches are common?

Bhasin explains that SaveIN's partnership approach from day one forced them to adopt world-class security standards.

"When we started building SaveIN, the kind of partners we have—especially on the lenders side—we work with the number one private bank in India (HDFC Bank), the number two private bank (ICICI Bank), and many others," he says.

The Bank Partner Advantage: Built-in Compliance

Partnering with India's largest banks provided unexpected benefits for SaveIN's security framework.

"We've been partnered with some of these banks for over two years now," Bhasin notes. "We've been lucky in that regard because there's been a lot of talk about data privacy now. The DPDP Act is already there, and there's a lot of conversation around security."

"These very large financial institutions have imposed upon us the need to be extremely compliant," he explains. "That has benefited us immensely. It has instilled in us a framework which otherwise we would have taken much longer to learn as a young company."

Convincing Healthcare Providers: The Perfect Fit

Was it difficult to convince healthcare providers to adopt embedded financing? Bhasin reveals that their strategic market selection made this process remarkably smooth.

"I bring you back to the same point because your question assumes that we work in hospitalization," he laughs. "Please note that the domains where we operate, there is no insurance."

The Insurance Gap: SaveIN's Sweet Spot

Bhasin systematically identified categories where insurance penetration is zero:

• Hair Transplant: ₹2-3 lakh minimum—no insurance
• Dermatology Procedures: Multi-billion industry—not covered
• LASIK Surgery: Remove glasses—insurance won't cover
• Dental: Virtually no insurance coverage
• Gym Memberships: No insurance covers fitness
• Ayurveda: Bulk of treatments not covered
• Homeopathy: Not covered by insurance
• IVF: Not covered by insurance

"Outpatient healthcare, which is non-hospitalization, is 1,000 times more frequent than hospitalization—and unfortunately, those frequent treatments are not covered by insurance," Bhasin emphasizes. "We fit that place like a glove fits a hand."

The Future of Work: Wellup—India's First Preventive Employee Wellness Program

SaveIN is poised to launch a groundbreaking new product that addresses a critical gap in employee healthcare benefits.

"We are at the cusp of launching a very, very disruptive product by the name of Wellup—it means 'upgrade your wellness,'" Bhasin reveals enthusiastically.

The insight driving this product: Traditional employee health coverage is inadequate for modern workforce needs.

Wellup Features: Comprehensive Preventive Care

"We are launching India's first outpatient and preventive employee wellness program," Bhasin announces. "By means of launching a mobile app, we will through the employer community cover millions of employees."

The program includes comprehensive benefits:

• Preventive Health Checkups: Regular screenings and assessments
• Doctor Consultations: Throughout the year—allopathy, homeopathy, and ayurveda
• Mental Counseling: Professional psychologists available through video calls
• Personalized Diet Plans: Customized nutrition guidance for better physical outcomes
• Dental Care: Consultations and annual cleanings scheduled automatically
• Network Discounts: Special rates at 6,500+ SaveIN partners
• Zero-Cost EMI: Pay for treatments in convenient installments

"All of this will be free of cost for the employee," Bhasin emphasizes. The launch is set for January 1st, with thousands of employees already onboarded in pre-launch.

The Vision for India's Healthcare System: Transparency and Consistency

As someone deeply embedded in India's healthcare financing landscape, what changes would Bhasin make if he were the regulator?

"There are two aspects that I would like to really impact," he reflects. "One is transparency in the healthcare ecosystem—what exact information are you provided for the particular treatment or service that you're undertaking, and what are the outcomes that you can expect. This includes pricing."

Key Takeaways

Jitin Bhasin's journey from banking veteran to healthcare fintech founder offers crucial insights:

For Patients: You no longer have to delay or decline dental, dermatology, cosmetic, or wellness treatments due to cost. SaveIN's zero-cost EMI options make quality healthcare accessible without breaking the bank. Scan a QR code, get approved in 30 seconds to 3 minutes, and pay over 12 months without interest.

For Healthcare Providers: Offering EMI options can increase your treatment acceptance rates by 40-50%. Patients want superior treatments but cost is often the barrier. SaveIN removes that barrier while guaranteeing your payment—no need to handle collections or credit risk.

For Entrepreneurs: The biggest opportunities lie at the intersection of massive need and systemic failure. India's healthcare financing gap—70% out-of-pocket spending, minimal insurance coverage for outpatient treatments—represented a glaring market inefficiency waiting to be solved. SaveIN succeeded by focusing specifically on what insurance doesn't cover.

For Fintech Founders: Partnering with top-tier institutions (HDFC Bank, ICICI Bank) from the start accelerated SaveIN's compliance and security maturity. The "regulatory halo effect" from banking partners provided credibility and built trust faster than going it alone.

For Employers: Traditional health benefits only cover 5% of your workforce (those hospitalized). Wellup's preventive and outpatient focus provides value to 100% of employees—particularly GenZ who prioritize mental health, fitness, and wellness over hospitalization coverage.

For India's Healthcare Ecosystem: Transparency and consistency remain the biggest challenges. Patients don't know treatment outcomes, pricing, or whether they're receiving the right advice. Improving these two areas would dramatically increase trust in healthcare facilities.

SaveIN represents the future of healthcare financing: Not emergency loans for hospitalization, but embedded financing that makes preventive and outpatient healthcare as accessible as buying a smartphone on EMI. As Bhasin's vision demonstrates, when you remove financial barriers from healthcare, people invest in their health—and that investment pays dividends in individual well-being and national economic performance.

About the Guest

Jitin Bhasin is the Founder & CEO of SaveIN, a healthcare financing platform revolutionizing how Indians access private healthcare through zero-cost EMIs and embedded financing. With 15+ years in banking, insurance, and financial services, Bhasin brings deep domain expertise to healthcare fintech. He's a second-time entrepreneur, having previously built a mobile app-based lending company and non-bank finance company before founding SaveIN in 2022.

Under his leadership, SaveIN has built India's largest healthcare QR code network with 6,500+ facilities across 100+ cities, enabling patients to access treatments ranging from dental procedures and hair transplants to IVF and cosmetic surgeries with zero-cost EMIs. The platform completes credit assessments in 30 seconds to 3 minutes, offering limits up to ₹5 lakh.

Bhasin's strategic vision focuses specifically on outpatient treatments that insurance doesn't cover—dental, dermatology, aesthetics, hair transplant, fertility, wellness, and alternative therapies. By targeting this massive gap (70% of India's healthcare spending is out-of-pocket), SaveIN has become India's largest aggregator of outpatient healthcare financing.

SaveIN's multi-channel approach—integrating with HDFC Bank, ICICI Bank, IDFC First Bank, 15+ credit cards, and NBFC partners—sets it apart from traditional personal loan apps. The company maintains default rates 50% lower than credit cards, reflecting the responsible nature of healthcare borrowing.

Bhasin is now launching Wellup, India's first outpatient and preventive employee wellness program, addressing the reality that only 18% of employers offer healthcare coverage and existing plans only cover hospitalization—which less than 5% of employees encounter. The platform provides preventive health checkups, doctor consultations (allopathy, homeopathy, ayurveda), mental counseling, personalized diet plans, dental care, and network discounts—all free for employees.

At SaveIN, Bhasin is building toward a future where quality healthcare is accessible to every Indian, not just those who can afford upfront payments. His vision combines embedded financing innovation with genuine healthcare access, proving that removing financial barriers enables people to invest in their health—and that investment drives individual well-being and national economic performance.