Money & Banking

Apollo Hospitals launches Health EMI Card in tie-up with Bajaj Finserv

Our Bureau Chennai | Updated on January 21, 2020 Published on January 21, 2020

(L-R)Prathap C Reddy, Chairman, Apollo Hospitals Group, Rajeev Jain, MD, Bajaj Finance Ltd and Suneeta Reddy, MD, Apollo Hospitals Group at the launch of Apollo Hospitals and Bajaj Finance Ltd Co-branded Health EMI card   -  Photo: Bijoy Ghosh

Card offers no-cost EMI, ₹4-lakh credit limit and complimentary insurance cover

 

Apollo Hospitals on Tuesday launched a digitised co-branded Health EMI Card here in partnership with Bajaj Finance Ltd,  the lending arm of India’s largest non-bank  Bajaj Finserv.

The card will help reduce the burden of medical expenditure by converting it into easy, no-cost EMIs that can be repaid over 12 months, it said.

“The Apollo Hospitals-Bajaj Finserv Health EMI card will empower patients to access the best world-class advanced healthcare without worrying about treatment expenses at a time when they are already under stress,” Prathap C Reddy, Chairman, Apollo Hospitals Group, said at an event to announce the partnership.

Instant activation

The Health EMI Card offers several features such as instant activation, credit limit up to ₹4 lakh, an emergency line attached to the card, priority access and add-on benefits including complimentary personal accident insurance cover.

“The Apollo Hospitals - Bajaj Finserv co-branded Health EMI card launched today will enable customers to avail easy EMI financing options for healthcare covering over 600 procedures. The initiative will help customers or patients who are facing medical emergency but do not have adequate or sufficient health insurance in place,” Rajeev Jain, Managing Director, Bajaj Finance Limited said at the event.

“I think it’s important to realise that in healthcare, it’s not just about creating institutions and infrastructure but also about access. At Apollo, we started the first private insurance called Apollo Munich. Having shown the way of creating one form of access, with Bajaj Finserv we will create another way of enabling patients to have this product and finance their treatment process,” Suneeta Reddy, Managing Director of Apollo Hospitals.

Bajaj Finserv already has a digital EMI card in partnership with Mobikwik which offers instant financing options to purchase electronics & home appliances, lifecare service, groceries and more. The digital EMI card currently has 20 million users.

The Health EMI card will be accepted across the entire Apollo Hospitals network including multi-speciality hospitals wellness centres, diagnostics stores, clinics and pharmacies.

The card can be availed by submitting KYC documents per RBI guidelines, such as PAN, Aadhaar card, cancelled cheque and signed ECS mandate.

Published on January 21, 2020
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