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No it is not. Long-term studies have shown that even frequent donation of plasma is safe. However in some individuals it is seen that frequent donation leads to decreased levels of antibodies in their blood. Some may also suffer from lowered hemoglobin in blood.
Therefore checking every 4 months by doing tests such as complete blood count, and also limiting the frequency of donations and adhering to the guidelines will prevent any complication of donation from happening and you will continue to feel wonderful knowing that you are helping to save the lives of those who need it.