India’s First Pre-Approved Medical Loan Card Launched by Arogya Finance



Arogya Finance, a social healthcare venture launched the Arogya Card in Mumbai today.The Arogya Card is a concept introduced by Arogya Finance and has a pre-approved medical loan of upto Rs. 2 lakh for the cardholders and their family members. The card is designed with a vision to ease the medical finance burden of the weaker section which leads them to poverty.

“Unexpected healthcare shocks are leading over forty million Indians into poverty every year.Arogya Finance has taken a step to bridge this gap by launching the Arogya Card that offers pre-approved loans at reasonable terms by making it available at the right time and place of need to those who lack collateral orformal income proof. We are providing a one-stop financial solution for people in need whenever and wherever there is an unforeseen medical emergency.” said Mr. Jose Peter, Co-Founder and CEO of Arogya Finance.

The Arogya Card does not require collaterals or formal income proof which are mandatory in other forms of finance. Arogya Finance offers a pre-approved loan and makes it easily available within 24 hours. The card offers medical loans to the traditionally un-bankable, using a psychometric tests as an innovative risk assessment tool, which enables evaluation of the credit risk profile of people outside the formal banking system. The borrowers can repay the loans in Easy Monthly Installments of upto 36 months and is calculated in a way that it does not exceed 25% of the total family income.

Mr. Dheeraj Batra, Co-Founder and VP of Business Development at Arogya Finance said, “With the launch of the Arogya Card, we are creating a lifeline for millions of people in India facing poverty due to high expenses incurred on healthcare.Our Cumulative Collection Ratio is very high at 96% and shows the robustness of our methodology”.

Arogya Finance has been recognized as one of India’s most unique social innovators by International Partnership for Innovative Healthcare Delivery (IPIHD), an organization founded by McKinsey, USAID and

the World Economic Forum and Social Entrepreneurship Accelerator at Duke (SEAD). With over 100 healthcare delivery partners and presence in 9 states, Arogya plans to implement the concept of Arogya Card across the nation.


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