SECURITY Bank Corp. recently received “Product Innovation Pioneer” recognition at the 2021 RBI Asia Trailblazer Awards for its Doctor’s Loan product.
Retail Banker International (RBI), a UK-based financial journal, also awarded Security Bank’s loan product a “Highly Commended” rating.
The Doctors Loan product, which is a variant of the Bank’s Corporate Salary Loan, was rolled out in May 2020 to the medical community, starting with St. Luke’s Medical Center.
Thanks to the loan offer, doctors were able to secure loans with a three-month deferral with no interest on payments, a special interest rate, and flexible payment terms of up to 60 months, with the loans being approved within three to five working days.
“The 2021 edition of the awards received more than 300 entries from 25 countries across the Asian continent representing top consumer finance and retail banking companies,” RBI said.
“One of the main lessons to be learned from nominations for the awards in 2021 has been the resilience of the regional banking sector and its ability to develop innovative solutions and deliver new offerings in record time to help tackle the financial implications on their customers in response to Covid-19. pandemic, ”he added.
Security Bank President and CEO Sanjiv Vohra said they saw the need to “be flexible in meeting the needs of the communities they serve”. “We knew we had to provide financial assistance to our doctors when needed. With our medical loan, we are able to help our front lines secure funding for their child’s tuition, clinic renovations and additional cash, ”Vohra said.