South-based lender Federal Bank is all set to offer a health insurance of Rs 1 lakh for all new savings accounts under a tie-up with Max Bupa. It will be offering a cover of Rs 1 lakh against a premium payment of Rs 1,000. The cover provides for in-patient treatment, all day-care procedures up to the sum assured.
The bank’s net profit for the quarter ended December 31, 2014, rose by 15.01% at Rs 264.69 crore as compared to Rs 230.13 crore for the quarter ended December 31, 2013. The bank’s total Income increased by 10.24% to Rs 2090.01 crore for the quarter under review from Rs 1895.92 crore for the corresponding quarter of the previous year.
