First-of-its-kind partnership between HealthCare Global Enterprises Ltd. and Arogya Finance to offer interest-free loans for cancer patients in India

Bengaluru, May 03, 2017: HealthCare Global Enterprises Ltd.,the largest cancer treatment network in India today announced its plans to partner with Arogya Finance.Through this partnership, patients with cancer will finally have access to interest-free loans, a move aimed at increasing accessibility and affordability to high quality cancer care. This facility will be made available in Bengaluru, Gulbarga and Mysore.

Dr. BS Ajaikumar, Chairman and CEO, HealthCare Global Enterprises Ltd., commented, “The goal of HCG has been to make cancer care accessible and affordable. While people talk of affordability, it should go hand-in-hand with quality of care and good patient outcomes. In India, we face issues where people cannot access high quality care due to cost. We believe rich or poor, cancer can be treated only one way: the right way, the first time. In line with this belief, we are pleased to partner with Arogya Finance to enable this first-of-its-kind health financial offering. Together, we have come up with an innovative plan to help people who are in immediate need of finances, particularly with no interest for the first year. This will immensely benefit cancer patients.”

Patients can take loans either in the form of direct financial loans or in the form of loan cards with an embedded pre-approved loan.

Direct Loan:

• Arogya Finance shall provide interest free health finance offerings up to Rs. 5lakhs to treat needy patients for a period of 12 months.
• If the loan tenure exceeds one year, the patient shall bear a minimal interest rate. The loan tenure is 6 months to 48 months [0% interest rate for one year, 6% for two years, 8% for three years, 9% for 4 years]. Processing charges of 2% on the loan amount is applicable
• Easily accessible: Designed specifically for those with no collateral or formal proof of income
• Minimal KYC documentation, with flexibility of options such as the use of Aadhaar card in case of unavailability of PAN Card
• Flexibility in co-borrower selection

Loan Cards:

Presently, the loan cards are available for up to Rs.3,00,000 for a family of five persons valid for one year with a facility for renewal every year at a nominal cost. In case patients require a loan card, the hospital will refer them to Arogya Finance. The concerned official will assess the credibility and loan availing capability of the beneficiary and issue the loan card. The processing fee for the card will be Rs.1000, valid for one year, which can thereafter be renewed for Rs. 250 every year.

Corporate Comm India(CCI Newswire)