HDFC to grant instant loans up to Rs 40 lakh for medical bills from clients of Apollo hospitals

MUMBAI: HDFC Bank on Wednesday announced a partnership with which its clients can benefit from unsecured loans of up to Rs 40 lakh to pay for medical costs incurred in the health care chain.

Loans will be disbursed almost instantly as cash is needed, and inpatients who are customers of HDFC Bank will also receive preferential treatment, CEO and CEO Aditya Puri told reporters.

Apollo Executive Vice President Shobana Kamineni said HDFC Bank has 65 million customers who can take advantage of this facility.

She pointed out that while health insurance is necessary, it does not cover all aspects despite the provision of cashless facilities and therefore such a link will be useful.

Apollo launched “the Healthylife program” earlier this year to support several illnesses and conditions, and HDFC Bank customers who register under the partnership will be part of it, she said. Currently, there are 4 million members on the platform, Kamineni added.

Head of the HDFC Bank (Corporate Banking) group, Rahul Shukla, said subscription to the basic program was free for his customers, but answered the question when asked if it would be an exclusive link for the lender.

Puri said the bank is not stressed and has a healthy capital adequacy of over 18%, which will allow it to continue lending.

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