HDFC Bank ties up with People’s Insurance to protect loan customers’ mortgaged properties

HDFC Bank tied up with People’s Insurance for the provision of fire and natural peril insurance protection to the mortgaged properties of the bank’s loan customers. 

HDFC Bank and People’s Insurance entered into an MOU in this regard recently and HDFC Bank Chief Executive Officer/General Manager Palitha Gamage and People’s Insurance Chief Executive Officer Deepal Abeysekara signed on behalf of the two organisations. 

Under this MOU the loan customers of HDFC Bank will have the opportunity of obtaining a blanket fire insurance policy from People’s Insurance to cover the risks pertaining to mortgaged properties. The cover is available for all mortgage loan customers of HDFC bank to protect their mortgaged dwelling house properties.

This tie-up will ensure protection against fire and natural calamities for HDFC Bank’s loan customer’s dwelling houses which are mortgaged to the bank. This cover will provide protection against fire and lightning, natural perils including flood, cyclone, earthquake and tsunami among other for the bank’s loan customers. 

This value-added feature will provide peace of mind especially to the bank’s housing loan customers whilst ensuring protection for their mortgaged properties during the tenure of the loan. This partnership between HDFC Bank and People’s Insurance is the result of the bank’s continuous strive to provide best in class products and services to its customers.

Further the solution provided by People’s Insurance ensures that in case of a damage due to fire or natural calamity the bank’s mortgaged dwelling house portfolio is covered.

HDFC Bank is a specialised bank with a track record of over 34 years in providing housing and related financial services. The bank’s recent product diversification resulted in the introduction of new credit schemes, including development loans, gold loans and leasing. 

HDFC operates with 39 branches, covering all provinces and districts of the country. Further, the bank’s mobile banking operation serves over 150 townships in the country. The bank has embraced modern technology to keep abreast with new technological developments, and to better serve its rapidly increasing customer base with cutting edge banking solutions.