Smart Money: SBI Card partners with Aditya Birla Finance

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Health insurance

Comprehensive health coverage from Universal Sompo
Universal Sompo General Insurance launched a comprehensive health insurance plan with additional features for retail consumers. The product includes a host of new features, including 14 basic covers and 26 supplemental covers to protect policyholders against escalating medical costs. The policy covers medical expenses incurred by the insured as a result of hospitalisation/hospitalization at home in the event of sudden illness, accident or any necessary surgery. It offers a wide range of sum assured options, up to Rs 50 lakh. The policy has a one-year waiting period for certain specific conditions with a reduced waiting time for pre-existing conditions.

Bancassurance link between Star Health and IDFC FIRST Bank
Star Health and Allied Insurance has signed a corporate agency agreement with IDFC FIRST Bank for the distribution of its health insurance products. Under this strategic agreement, Star Health will offer its best-in-class health insurance products to the bank’s customers using the bank’s state-of-the-art digital platform and extensive distribution network.

Credit card

SBI Card partners with Aditya Birla Finance
SBI Card has partnered with Aditya Birla Finance to launch the Aditya Birla SBI Card. The card was designed to provide customers with significant reward points on their spending in the areas of telecommunications, fashion, travel, restaurants, entertainment and hotels, among others. The rewards-focused credit card has been launched in two variants – Aditya Birla SBI Card Select and Aditya Birla SBI Card, on the Visa platform.

Deposits

Equitas Small Finance bank raises FD rates
Equitas Small Finance Bank has raised interest rates for retail term deposits. Customers can now earn 7% interest per annum on FDs for 888 days, bringing the annual yield to 7.19%. For RDs, customers can get up to 6.90% on its 30-month or 36-month plan. Senior citizens will continue to receive maximum benefits as the bank offers them a flat rate of 0.50% additional to the existing revised rates on RTDs. For FD, seniors can now earn interest of 7.50% per annum for 888 days.

Loans

Special loan offers from Poonawalla Fincorp
Poonawalla Fincorp has announced special loan offers exclusively for doctors and chartered accountants. The loan offers will be available for a month from July 1 during which they can apply for business loans up to Rs 30 lakh. The offer offers competitive interest rates starting at 10.99% per annum. Under this offer, CA and Physician customers will also receive an exclusive Amazon Voucher of Rs 2,000 on every successful loan disbursement. These loans will have no foreclosure charges.

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