Editorial Team

ICICI Bank today announced the launch of the country’s most comprehensive banking solutions for medical doctors. Called ‘Salute Doctors’, it provides customized banking as well as value-added services for every doctor, beginning from a medical student to a senior medical consultant to an owner of a hospital or a clinic. The solutions, which are mostly digital and instant, are designed to take care of the professional, business, lifestyle and wealth banking requirements of doctors and their families. The initiative is powered by ICICI STACK, a digital banking platform with nearly 500 services that helps customers of the Bank to avail the services digitally and seamlessly.

‘Salute Doctors’ provides doctors with an array of innovative services. One, a range of premium savings and current accounts for personal and business banking. Two, specially curated suite of loans for home, auto, personal, education, medical equipment, setting up clinic or hospital and business. Three, industry first value added services, which are offered in association with partners, to help doctors fulfill their lifestyle needs, manage clinic/hospital better and digitally, get updates on latest medical developments, take care of accounting needs, expand and procure medical supplies.

Mr. Pranav Mishra, Head- Liabilities, ICICI Bank said, “We, at ICICI Bank, hold doctors in high esteem for their selfless service to society. Today on National Doctor’s Day, we have launched ‘Salute Doctors’ banking solutions to express gratitude and salute our lifesavers for their service and sacrifice. This proposition is an extension of ‘ICICI STACK’ which we launched a year ago to offer all banking services digitally from one platform. We have done extensive research on doctors across various stages of their career– right from medical students, senior doctors and owners of hospitals/ clinics- to understand their banking needs.

Based on our research insights, we have created a 360-degree proposition that brings in a host of instant and digital services, customized for doctors at different stages of their career. For example. We have specially curated education loan for doctors, loans for medical equipment for new purchases and refurbished medical equipments, loan for purchase, construction or expansion of clinic or hospital business loans for working capital requirement of clinic and hospital as well as personal loan for all their other needs. We have designed a Business Credit Card and Expressions Debit Card for their business and personal expenses respectively. Further, we are offering value added services, which are first in the industry. We believe that this specially curated holistic proposition helps doctors in our country to fulfill their personal and professional banking requirements.”

The main offerings of ‘Salute Doctors’ are:

  1. Premium bank accounts for personal and business requirement:
  • Salute Doctors Savings Account: This premium savings account is available in three variants- Wealth, Platinum and Gold. Some of the distinctive features of the account that provide enhanced convenience to the doctors are, an unique Expressions Debit Card with an image selected by the customer and ‘Dr.’ embossed on it; a dedicated Relationship Manager; flexibility to manage balance requirements across savings account, fixed deposit and current account; solutions for digital investment solutions, real-estate remittances and insurance requirements for personal and professional needs. The account comes with ‘Family Banking’ benefit, wherein the doctors can extend their premium banking services to the family members. Additionally, doctors are offered a set of exclusive offers for their professional needs and to spend quality time with family. Doctors can also apply for premium collection of ICICI Bank Credit Cards.
  • Salute Doctors Current Account: Doctors are offered premium current account in three variants- Platinum, Gold and Silver. They can apply online through the Bank’s website or InstaBIZ app. Some of the benefits of this account include dedicated Relationship Manager, selecting account number of choice, no requirement of keeping a minimum balance in the account for the first year if the customer is transacting digitally, and convenience of ‘no cheque-bounce charges’ for third party cheques. Doctors also get the Bank’s ‘EazyPay’ facility to accept instant cashless payments through POS/QR code and ‘Connected Banking’ platform for automated payments and collections with instant bank reconciliation. They get free subscription of ZOHO Books, an accounting software to carry out their accounts. Along with all this, doctors get to experience the Bank’s state-of-the-art InstaBIZ app with 115 business banking services and Corporate Internet Banking (CIB) platform for their business banking requirement and to carry out seamless digital transactions. Doctors can also apply for a Business Credit Card which has the feature of segregating personal and business spends; and has name of the hospital or clinic embossed on it.
  1. Specially curated suite of loans:
  • Mortgage loans: Doctors, including who are not existing customers of the Bank, can avail loan upto Rs. 5 crore for the range of mortgage loans like home loan, home loan balance transfer, loan against property and loan for purchase, construction or expansion of clinic or hospital. They can apply digitally for the mortgage loans through the Bank’s website. Pre-approved customers of the Bank have the convenience of getting sanction letter instantly for loans upto Rs. 10 crore.
  • Medical equipment loan: This is available for all doctors, no matter they are customers of the Bank or not. They can avail the medical equipment loan upto Rs. 10 crore to purchase new and refurbished medical equipment. They can SMS HCF to 567677 to avail this facility.
  • Business loan: Doctors get business loan up to Rs. 40 lakh without collateral for their working capital needs or other business related expenses like refurbishing of clinic/ hospital and purchase of medical equipment. Pre-approved customers of the Bank get instant disbursal of the loan amount.
  • Personal loan: The Bank offers digital personal loan up to Rs. 25 lakh with simple online documentation and quick processing. Pre-approved customers of the Bank can avail this loan digitally through iMobile Pay app or the internet banking platform and get instant disbursal. Other customers can apply at branch with a digital led process through tablets and get the disbursal within few hours.
  • Education loan: The Bank offers industry first medical education loan up to Rs. 1 crore called ‘Doctor Select iSMART Education Loan’. Doctors can avail this loan for themselves or their children’s studies in medical colleges in India or overseas. They can apply online through the website. Pre-approved customers of the Bank can apply through the internet banking platform and get instant sanction letter.
  • Auto loan: The Bank offers auto loan up to Rs. 50 lakh for doctors. The Bank has curated a special repayment scheme called ‘Flexi EMI’, which provides customers the flexibility of selecting low EMI for first six months; thereafter the EMI is higher. Pre-approved customers of the Bank can apply online through internet banking or iMobile Pay app and get instant sanction letter. Other customers can avail the auto loan at branch or dealers in a fully digital application process through tablets.
  1. Industry first value added services:
  • Business assistance concierge: The Bank in partnership with a leading support-solutions provider, offers doctors an array of services to set-up their clinics. Doctors get discounted prices on services like staffing, clinic management, material procurement, travel related services, taxation, security solutions among others through a dedicated concierge helpline or via an email or an app.
  • Online clinic set-up: The Bank has tied up with an expert digital concierge company to help doctors create online profile of their clinic or hospital. It offers a one-stop solution ranging from website development, online video consultation, chat based consultancy, prescription management and other digital assistance. ICICI Bank customers are offered the digital services at an exclusive discounted price by a partner through a dedicated helpdesk, email and an enquiry form.
  • Additional privileges: In partnership with multiple companies, the Bank offers discount for online procurement of medical equipment from leading medical supplies e-commerce platform and provides exclusive access to various health and medical journals. Doctors who open Wealth Savings Account, get complimentary Taj Epicure membership and also get a dedicated concierge desk for all their lifestyle requirements.

Doctors can avail all the specially curated services of ‘Salute Doctors’, whether or not ICICI Bank customer.

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