Apollo Health Signs MoU With SBI For Financing Apollo Clinics Franchises

Apollo Health & Lifestyle (AHLL), a wholly-owned subsidiary of Apollo Hospitals, on Friday said it has signed an MoU with State Bank of India to offer term loans to its franchises. Under the MoU, AHLL will nominate State Bank of India as its preferred financier to its prospective franchises for opening of Apollo clinics throughout India, AHLL said in a release. The MoU was signed between Ratan Jalan, CEO AHLL and J Chandrasekaran, General Manager, SME Business Unit, State Bank of India. "SBI will be offering an attractive rate of interest on the term loans to the prospective Apollo franchises with a maximum of 66% on the project cost and a 75% on the working capital requirement," said J Chandrasekaran, GM, SME-Business Unit, SBI. State Bank of India is also keen to offer term loan on the same terms to existing franchises of The Apollo Clinic, it said. Ratan Jalan, CEO, AHLL, said, "This tie-up with State Bank of India comes just at the right time and the national reach and attractive terms offered by the SBI will enable us to grow at an accelerated pace.