SBI - Medi Plus Scheme

MEDI-PLUS SCHEME

For spreading smiles and cheers on the faces of our customers…, we've launched a new loan scheme keeping specialized medical treatments in mind - a scheme that we call Medi Plus!

Enjoy the SBI advantage :

* Concessions in margin amounts, interest rates and processing charges!!
* Lowest interest rates. Further, we charge interest on a daily reducing balance!!
* Lowest processing charges; only 1% of loan amount -(compare with 1-3% of others.)
* No hidden costs or administrative charges..
* No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
* Flexible repayment period.


The Scheme :

The Specialised Medical Treatments, not only do the cost implications run into several lakhs of rupees, but more often than not, these liquid funds also need to be generated at a very short notice, in order to be able to make prompt hospital bill payments… With this in mind, Medi Plus is specially designed to make life simpler for you under what could well be trying circumstances.

You may avail of loans under the Medi Plus Scheme to cover the cost of treatments such as:

* Corneal Implant
* Orthodontic Treatment (fixed tooth implant)
* Ilazirav Technique of lengthening a limb
* Congenital heart surgery
* Angioplasty
* Heart Valve Replacement Surgery
* GIFT (in-vitro technique for child bearing)
* Serious Accidents and Multiple Injuries Surgery
* Hip and Knee Replacement Surgery
* Coronary Artery Bypass/ Graft Surgery
* Cochlear Implants (surgical) for the hearing impaired
* Onco-Surgery upto Grade I
* Reconstructive Nose Surgery with Face Lifting
* Penile Implant Surgery
* Artificial Limb Prosthesis


Purpose :

Loan for individuals to avail specialised expensive medical treatment e.g. coronary by-pass, Hip and Knee replacement surgery, cochlear implants(surgical) for the hearing impaired etc.


Eligibility :

You qualify to avail of loans under this scheme, if you are:

* An employee of the Government/ a reputed PSU/ a profit making public limited company, and if you have a minimum, 10 years of service
* A self-employed professional
* A pensioner, who has taken voluntary retirement and is not yet 60 years old
* An agent of Insurance/ KVP/ Mutual Funds etc. with a minimum annual income of Rs.3 lakh
*An employee/ a pensioner with a minimum income of Rs.10,000 per month or if you are a neither, a minimum income of Rs. 3 lakhs per annum.
Note : If the person being treated is a minor, the loan may be granted to a parent.



Loan Amount :

The loan amounts range from a minimum of Rs.50,000/- to a maximum of 12 months NMI (when it concerns salaried individuals and pensioners) or a 1 year net annual income (when it comes to persons other than salaried individuals and pensioners), subject, to the following ceilings:

* For Employees and Professionals : Rs.2.0 lacs
* For Pensioners and Agents : Rs.1.0 lac

Once sanctioned,the loan is disbursed by the issuance of a draft/ banker's cheque, favouring the hospital, where the treatment is being undertaken or where it's proposed to be undertaken.


Margin :
20% of the total cost of treatment.


Security :
As per bank's extant instructions.


Repayment Period :

You may comfortably repay your loan over a maximum - 60 Equated Monthly Installments.


Interest :

0.75% above SBAR i.e.14.50% p.a.

Processing Fee (One time)

0.50% of the loan amount.


Documentation :

Please contact the Bank for details.

Authorised branches We are pleased to inform you that currently, The Medi Plus Scheme is being offered at:

* All computerized SBI branches in identified cities
* All SBI branches, in metro/ urban centers, having "P" divisions
* All SBI Personal Banking Branches

Processing Fee : 0.50% of the entire loan amount, If the applicant already maintain a regular Housing Loan Account with us the processing fee is waived.

List of Diseases

* Corneal implant
* Orthodontic treatment - fixed tooth implant
* Ilazirav technique of lengthening a limb
* Angioplasty
* Congenital heart surgery
* Heart Valve replacement surgery
* GIFT - In-vitro technique for child bearing
* Serious accidents and multiple injuries surgery
* Coronary artery bypass graft surgery
* Hip and knee replacement surgery
* Cochlear implants (surgical) for the hearing impaired
* Onco - surgery upto Grade I
* Reconstructive nose surgery with facelifting
* Penile implant surgery
* Artificial limb prosthesis
* Laser assisted hatching
* Intra Cylasmic sperms injection

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