(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.)
PUNE, India, May 13, 2020 /PRNewswire/ -- Over the years, the cost of healthcare services in India has been on a rise. Statistics from 2018-2019 show that healthcare inflation was more than twice the rate of overall retail inflation. However, despite rising costs, no individual would like to compromise on their family's healthcare. Should an emergency arise, every individual would do their utmost to finance the treatment(s), irrespective of the medical bill. To offer healthcare financing, Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv is offering its Digital Health EMI Network Card.
This card allows customers to convert medical expenses into affordable No Cost EMIs in the same manner as they would purchase any durable/white goods and pay in instalments over many months. Now customers can make use of the pre-approved limit of up to Rs. 4 lakh and can divide the cost of treatment, diagnostic tests and even medicines over a flexible tenor ranging up to 24 months. Customers can avail of this hassle-free financing option in just 5 minutes.
What's more, this digital-only card allows customers to avail 800+ treatments ranging from cardiac surgery to slimming treatment through Bajaj Finserv's 5,500+ lifecare partners spread across 1,000+ cities. These include top names in the healthcare industry such as Apollo Hospitals, Manipal Hospitals, and Columbia Asia Hospitals and top pharmacies, diagnostic centres, and wellness institutes.
Bajaj Finserv Health EMI Network cardholders as on 31st March 2020, can pay for their medical expenses using the card anywhere across the 5,500+ partner hospitals, clinics and pharmacies. They can access the digital card via the Bajaj Finserv Wallet App to make their payments.
Existing customers of Bajaj Finserv who have a pre-approved Digital Health EMI Card offer, can apply for a card online by entering their registered mobile number and can get instant access to the card via the Bajaj Finserv Wallet App by paying a one-time fee of Rs 707. However, they can transact using the card when the lockdown ends.
Similarly, new customers can get the Digital Health EMI Network Card by visiting any of the registered lifecare partners and transact when the lockdown ends.
The Digital Health EMI Network Card is a family card and so, anyone in the family, including blood relations like parents, spouse, children, and siblings, can use it to convert healthcare and pharmacy bills into No Cost EMIs.
Eligibility criteria for the Finserv Digital Health EMI Network Card:
The Health EMI Network Card can be availed by salaried and self-employed individuals.
Apart from a regular income, a CIBIL score of 750 and above is recommended for hassle-free approval.
Here are the age criteria for the 2 employment types:
Documents required to apply for a Digital Health EMI Network Card:
Existing Bajaj Finserv customers need not provide any documents to get a Digital Health EMI Network Card. They can simply apply online and get it now through a paperless process. Moreover, they enjoy instant approval and can avail the card through a 100% digital process in just 5 minutes. New Bajaj Finserv customers are required to share their KYC documents and NACH mandate at any of the registered hospitals and clinics to avail of the card.
Credit limit offered by the health card:
Customers can avail at least 2 to 4 times the amount of credit they are eligible for on the regular Bajaj Finserv EMI Network Card. For instance, if their EMI Network Card limit is Rs. 75,000, they can get up to Rs. 3 lakh on their Digital Health EMI Network Card. The minimum limit for a Digital Health EMI Network Card is Rs. 50,000 and the maximum limit is Rs. 4 lakh.
Tenor schemes customers can qualify for:
In general, customers get a flexible 3 to 24 month tenor to repay their medical bills.
On qualifying for a Digital Health EMI Network Card, customers can meet all healthcare-related expenses in a hassle-free way and even enjoy added benefits. For instance, customers get a 1-year personal accident insurance cover worth up to Rs.1 lakh complimentary by signing up for the card. Moreover, the card also gives customers exclusive deals and discounts from partners like Apollo pharmacies and Medlife. All these deals, as well as the card details, can be accessed through the Bajaj Finserv Wallet App.
With the Bajaj Finserv Digital Health EMI Network Card, customers can access premium healthcare without feeling the pinch on their pockets.
About Bajaj Finance Limited:
Bajaj Finance Limited, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 40 million customers across the country. Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Lifecare Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international 'BBB' with stable outlook for long-term, by S&P Global Rating.
To know more, please visit: https://www.bajajfinserv.in PWR