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18-12-2017
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Loan Customers from Vijaya Bank get Insurance Cover

Keywords : Bajaj Allianz Vijaya Bank Life Insurance Group Insurance 

As part of its continuing strategy to cater to the diverse needs of its increasing clientele, the bank has been launching products and services tailor-made for various segments.

Through the present arrangement with Bajaj Allianz Life Insurance, the bank is offering a product which enables the borrower, in an economical way, to protect his/her family from the burden of repayment of the loan in the event of death.

Through this partnership, Bajaj Allianz aims to cover up to 4 lakh borrowers of Vijaya Bank across the country. The product will cover housing loans, education loans, vehicle loans, personal loans as well as other loans.

vijaya-bank-with-bajajallianz


"This is a solution that will provide financial protection from the burden of loan repayment in the unfortunate event of borrower's death. Over 4 lakh borrowers in 1,185 networked branches of the bank spread across 28 states and four Union territories can avail the facility," Vijaya Bank chairman and managing director Albert Tauro said.

"This plan will cover all customers of Vijaya Bank who have taken a loan for various purposes, irrespective of the amount of loan sanctioned. This coverage under a single product makes it easier for the bank and their customers to administer. Our partnership is another step in our association with such a large public sector bank, like Vijaya Bank," Bajaj Allianz Life Insurance chief distribution officer AS Narayanan said.

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