Kotak Mahindra Bank Limited (KMBL) announced Wednesday that it offers emergency personal loans exclusively for the treatment of Covid-19. The loan covers the expenses incurred for the medical treatment of Covid-19 for both yourself and family members.
Both new and existing KMBL customers are eligible to apply for a loan. Depending on the offer, borrowers can avail loans ranging from Rs 1 lakh to Rs 5 lakh, at a competitive interest rate starting at 10 percent 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 percent per year
4. Processing fee: 1 fixed percent of the loan amount
Additionally, KMBL has partnered with leading healthcare brands such as Tata 1mg and MediBuddy to bring a range of attractive healthcare offerings to KMBL debit and credit card holders.
KMBL Credit and Debit Card Holders Health Care Offerings:
1. Tata 1 mg – KMBL customers get a special 17 percent discount + 5 percent rebate (up to Rs 100) on prescription drugs in the Tata 1 mg app or on the website using the coupon code ‘ KOTAK1MG ‘.
2. MediBuddy – For just Rs 49, KMBL customers get a medical consultation, up to 15 percent discount and reimbursement on medications, 15 percent fixed discount on lab tests and medical checkups, 10 percent fixed discount on OPD consultations and much more.
3. General Kotak Insurance – A special benefit for Kotak customers in the form of a ‘Kotak Group Smart Cash’ health policy with an annual premium of only Rs 2,999. Under the policy, policyholders will receive the benefit of reimbursement of expenses of Rs 5,000 per day, for every 24 hours of hospitalization completed, for a maximum period of 30 days per year, in addition to other benefits.
4. Metropolis Healthcare – Kotak customers can take advantage of COVIPROTECT Spike Antibody Blood Test at a 30 percent discount at all Metropolis Diagnostic Centers in more than 90 cities in India.
Customers may note that credit is at the sole discretion of Kotak Mahindra Bank Ltd and is subject to guidelines issued by RBI from time to time. The bank may engage the services of a marketing agency in order to obtain loan assets. Also, personal loans will not be disbursed if the savings account is inactive or frozen. Offers are tied to Kotak credit and debit card spending.