CHENNAI: Credihealth, a medical assistance company, has launched a medical loan facility on its platform, partnering with banks, NBFCs and fintech players like Rubique.
Users can now apply for medical loans via Credihealth and make paperless in-principal transactions to avail loans ranging from Rs 30,000 to Rs 50 lakh for a tenure starting from six months to 48 months.
The tie-up gives it access to Rubique’s technology platform, network of over 65 financial institution tie-ups, and strong distribution across 29 cities.
Credihealth expects reaching out to a much larger audience with its unique healthcare proposition through the partnership and will also benefit from fulfilment support enabled through Rubique’s fulfilment centres. For its future tie-ups as well, it is focused on teaming up with only those financial services players who are highly transparent and give loans at attractive and fair rates.
Ravi Virmani, founder and MD, Credihealth, commented, “In our country, there is an imperative need to not only get quality healthcare but also financial means to get access to these facilities easily and on time. In fact, medical loans is one area which is yet to penetrate the Indian healthcare market as a majority of patients are either paying in cash or doing top-ups to pay their medical bills. But there are a large number of patients who are is in dire need of medical treatment and have no medical funds at all. In order to fulfil this need, Credihealth is making it convenient for patients to pay their medical bills through an EMI model. We are also leveraging our superior network of service providers and procurement supply chain to reduce the overall cost of care in the ecosystem.”
As a one-stop-shop for medical loan sanctions, Credihealth will forward the loan application to all the banks and NBFCs for the necessary approvals as part of this new service.
As far as its partnership with the provider goes, an executive will connect with the user immediately. In the next 48 hours, the users will get to know the amount of loan he/she is eligible for. The applied loan will get sanctioned within the next 24 hours. This entire process will take only 3-4 days as speedy approvals and disbursals are of the essence in medical emergencies.
Manav Jeet, MD & CEO, Rubique, added, “Having previously worked at enabling convenient access to finance for SMEs and individuals across multiple categories, we are delighted to partner with Credihealth to provide financial assistance to medical patients. This association will allow us to enable quick and hassle-free medical loans to millions of Indians in need of healthcare services through our state-of-the-art, innovative platform. We are confident that our mutual synergies will help in making quality healthcare more accessible to a larger part of the country’s population.”
Credihealth has a panel of over 30,000 specialist doctors and has served more than 1.8 lakh patients across 10 cities including Gurgaon, Delhi, Mumbai, Hyderabad, Chennai and Bengaluru. For its medical loan facility, it caters to every class of people, be it salaried, self-employed or retired.