Equitas Small Finance Bank partners with Cholamandalam MS General Insurance to launch the Chola Sarva Shakti Policy

National, (India), 13th December 2021 (GNI): Equitas Small Finance Bank is proud to announce that it has partnered with Cholamandalam MS General Insurance to launch the Chola Sarva Shakti Policy, a women-specific health insurance policy to empower Indian women with good health and finances.

Women are more susceptible to illnesses related to heart, gestation, reproduction, cancer and even hypertension and depression when compared to men. According to a recent survey among 1,009 women, only 39% of them had a health cover. The Chola Sarva Shakti Policy initiative aims to provide women with an independent and comprehensive policy, which secures their future against various contingency health situations. The policy benefits include insurance in case of personal accidents or any health crisis, health indemnity and maternity cover, support for child’s education and EMI benefit to the insured in case of termination or temporary suspension from employment owing to health problems, helping hand cover for insured hospitalization period, as well as genetic testing for mother & child.

Speaking on the occasion, Mr. Murali Vaidyanathan, Senior President and Country Head – Branch Banking – Liabilities, Products & Wealth, Equitas Small Finance Bank Limited, said: “As a bank, we aim to serve women better with our products and services. The launch of the women-specific savings account ‘EVA’ by roping in ace Indian cricketer, Smriti Mandhana, as the brand ambassador was one such initiative. The partnership with Cholamandalam MS General Insurance to launch the Chola Sarva Shakti Policy is a testament to our commitment to further the vision of upliftment and empowerment of all women by tailoring the requirements to ensure that they have good health, wealth and prosperity. As a bank, we have believed in the dynamism, vibrancy and ability displayed by women to withstand hardships in life. That belief enabled us to go against conventional wisdom by encouraging all our customers to avail the benefit through the Chola Sarva Shakti Policy. We remain committed more than ever to being a catalyst in the convergence of affordable financial and health services for women.”

Mr. V Suryanarayanan, Managing Director at Cholamandalam MS General Insurance states, “We are delighted to partner with Equitas Small Finance Bank to offer Chola Sarva Shakti, a health product launched for women. Chola Sarva Shakti is a health indemnity insurance product created after a careful study of the medical needs of women. The initiative intends to provide women a higher level of assurance and assistance in a medical crisis. Equitas Small Finance Bank has been empowering women financially through its EVA women’s savings account, designed for the growth and prosperity of Indian women. We believe that Chola Sarva Shakti will complement Equitas Bank’s vision by offering the essential health protection. Chola MS is committed to offer unique customized products to the bank’s customers, render claims servicing with empathy, along with digitally-integrated seamless experience,” stated in the press release.

Equitas Small Finance Bank’s EVA savings account made for the independent and aspirational women helps them take charge of their finances with goal-based savings, preferential rates on gold loans, debit card offers to name a few. The Chola Sarva Shakti Policy will further complement and provide holistic health benefits to women which will help them lead a secure and healthier life.

About Equitas Small Finance Bank Limited [ESFB] is one of the largest small finance banks in India. As a new-age bank, we offer a bouquet of products and services tailored to meet the needs of our customers – individuals with limited access to formal financing channels, as well as affluent and mass affluent, Small & Medium Enterprises (SMEs) and corporates. Our firmly entrenched strategy focuses on providing credit to the unbanked and underbanked micro and small entrepreneurs, developing products to address the growing aspirations at the ‘bottom of the pyramid’, fuelled by granular deposits and ‘value for money’ banking relationships.ends