Kotak Mahindra Bank Limited (KMBL) announced on Wednesday that it was offering emergency personal loans exclusively for the treatment of Covid-19. The loan covers expenses incurred for the medical treatment of Covid-19 for oneself as well as for family members.
Existing and new KMBL customers are eligible to apply for a loan. Under the offer, borrowers can avail loans ranging from Rs 1 lakh to Rs 5 lakh, at a competitive interest rate starting at 10% per annum.
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Key Features of Kotak Emergency Covid-19 Personal Loans:
1. Loan Amount: From Rs 1 lakh to Rs 5 lakh
2. Duration of the loan: From 1 year to 4 years
3. Interest rate: from 10% per year
4. Processing fee: 1% of loan amount
Additionally, KMBL has partnered with leading healthcare brands such as Tata 1mg and MediBuddy to provide a range of attractive healthcare offers for KMBL debit and credit cardholders.
Healthcare offers for KMBL debit and credit cardholders:
1. Tata 1mg: KMBL customers get a special discount of 17% + 5% cashback (up to Rs 100) on prescription drugs on the Tata 1mg app or website using the code of Coupon “KOTAK1MG”.
2. MediBuddy: For only Rs 49, KMBL customers get medical consultation, up to 15% discount and reimbursement on medicines, 15% fixed discount on lab tests and health checkups, 10% fixed discount on the OPD consultation, and much more. .
3. Kotak General Insurance: A special benefit for Kotak customers in the form of “Kotak Group Smart Cash” health policy at an annual premium of only Rs 2,999. Under the policy, policyholders will enjoy reimbursement of costs of Rs 5,000 per day, for each 24 hours of hospitalization completed, for a maximum period of 30 days per year, in addition to other benefits.
4. Metropolis Healthcare: Customers of Kotak can avail COVIPROTECT Spike Antibody Blood Test with 30% discount at all Metropolis Diagnostic Centers in over 90 cities across India.
Customers may note that credit is at the sole discretion of Kotak Mahindra Bank Ltd and subject to guidelines issued by RBI from time to time. The Bank may engage the services of a marketing agency for the purpose of sourcing Loan Assets. Also, personal loans will not be disbursed if the savings account is in a dormant or frozen state. Offers are tied to spending with Kotak debit and credit cards.