Mumbai: To put more emphasis on the healthcare sector with a targeted set of product offerings, Kotak Mahindra Bank (KMBL) today announced that it has launched a bespoke and holistic suite of financing solutions healthcare ranging from healthcare infrastructure loans, financing of medical equipment and unsecured healthcare loans, aimed at key players in the healthcare ecosystem, including hospitals, laboratories, diagnostic centers , nursing homes, clinics, physicians, and medical equipment manufacturers and dealers.
The KMBL has put in place a full package of offers at attractive interest rates to meet the financing needs of all key players. This includes innovative loan facilities such as the Insta program for rapid approval of loans up to Rs. 50 lakh.
The Indian healthcare sector is expected to experience strong growth over the next few years. The increase in investments in health care is fueled by increased attention on the part of the government to provide accessible, affordable and quality health care across the country. Additionally, increasing insurance coverage and a distinct shift towards wellness and preventative health care, in addition to medical tourism, all point to strong long-term growth prospects for the industry.
Sunil Daga, President and Head of Corporate Banking Assets, Kotak Mahindra Bank, said: “There is no doubt that healthcare is a priority sector for India for the next 3-5 years and beyond. The pandemic has only underscored the importance of the sector and the need to increase spending and investment to improve both the capacity and the quality of the country’s health infrastructure. To add to this, we are also seeing a growing awareness of consumers towards health and wellness. “
“The industry is at a turning point and we believe the time has come to offer a personalized and diverse range of financing options to suit the entire supply chain. Kotak’s healthcare funding proposal will support the growth of India’s healthcare industry, ”Sunil added.
KMBL will provide the full range of healthcare financing options:
Financing of new and refurbished medical equipment – for the purchase of medical equipment from authorized manufacturers / resellers
Working capital loans – to manage the cash flow needs of the business
Health infrastructure loans – for upgrading / refurbishing medical facilities, hospitals and clinics, building capacity or establishing new hospitals, clinics and diagnostic centers
Unsecured medical loans and loans against receivables – to healthcare facilities and individual physicians for business expansion
Insta Program – Fast approval for loans up to Rs. 50 lakh with minimum documentation
