This housing finance company will pay for vaccination of its customers

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As the second COVID-19 wave is engulfing more and more parts of the country, various corporates such as TCS, SBI, CTS, Infosys, ICICI Bank have announced that they will pay for the vaccines for the vaccines of their employees and their dependents.

Vaccine for customers

Shriram Housing Finance, which is mostly into affordable housing finance, has decided to pick up the cost of vaccination of all its customers current, old and new.

The company says that after their example, other companies might follow suit.

SHF officials told Money9 that they have a customer base of about 14,000. It has almost 800 employees as on December 31, 2020.

SBI General Life Insurance

A few days ago SBI General Life Insurance announced that they would bear cost of vaccination of its agents along with that of the employees. The number of agents of SBI General Life Insurance is almost 2-3 times bigger than the number of customers of Shiram’s.

“The company would roughly spend Rs 1,000 per loan as vaccination cost and would cover two members in a family. It estimates to spend nearly Rs 2 crore to provide free vaccination to its customers,” said Ravi Subramanian, chief executive officer, Shriram Housing Finance.

“Customers in the affordable housing space are not very well off and for them even the small sum to be incurred in vaccination through private players can become a big deterrent,” added Ravi.