PURPOSE
- For acquiring premises on ownership basis required for running Clinics/Nursing Homes, pathology labs, drug stores subject to compliance with license / registration requirements under laws of State / Central Govt. as the case may be.
- For buying equipments/ machinery for various dental implants besides equipments; For Orthopedists equipments/machinery for various replacements/ implants for hip/knee/shoulder/spine etc.
- For purchase of standard make medical equipments, professional tools, ambulance, computers, UPS, software, furniture & fixtures etc.
- Expansion/ renovation/ modernization of existing premises.
MAX. AMOUNT
Overdraft facility (Cash Credit) Rs.5.00Lakh for purchase of medicines and to pay salaries and other expenses.
Under Business Loan Scheme :- Rs. 50.00 Lakh.
Note :- Composite Loan & CC Amount :- Rs.50.00 Lakh.
ELIGIBILITY
Constitution of the Borrower :-
Individuals (Experienced or Fresh Qualified Registered Medical Practitioners), Partnership Firm/ Private Limited Company/ Trust – partners, directors, trustees should be qualified registered medical practitioners.
Applicants/ Promoters should have recognized qualification in the field of medical science like MBBS/ BAMS/ BDS/ BHMS/physiotherapy/ pharmacy/radiology/pathology etc.
Loan Eligibility based on :-
- Based on repayment capacity.
- DSCR should be more than 1.5.
- Cost of Project minus margin amount
REPAYMENT
For purchase of premises – Maximum 120 Months (Including Moratorium Period)
For purpose, other than purchase of premises – Maximum 84 Months (Including Moratorium Period)
For Loan up to Rs.2.00 Lakh--Maximum 60 months.
Maximum moratorium period will be based on the merits of the Project/case.
RATE OF INTEREST Click Here
MARGIN
10% of the cost of medical equipments/machinery.
25% of cost of premises/computer/renovation/equipments/ furniture expenses etc.
MEMBERSHIP
Applicant and Co- Applicant - Regular member
Sureties
a) up to Rs.25.00 Lakh - Nominal Membership
b) above Rs.25.00 Lakh - Regular Membership
PRIME SECURITY
- Equitable Mortgage of Premises /Clinic to be acquired / constructed.
- Hypothecation of equipment/ machinery/computer peripherals/vehicle (Ambulance)/furniture etc. to be purchased/acquired with the help of bank’s finance.
COLLATERAL SECURITY & SURETIES Loan upto Rs. 10.00 Lakh :-
- Tangible & realizable collateral security should be more than or equal to 25% of the loan amount.
- No Surety.
For loans above Rs. 10.00 Lakh :-
- Tangible & realizable collateral security equivalent to 50% of the loan amount.
- One Surety with take home salary/Net profit/Income of Rs.30,000/- p.m.
SERVICE CHARGES
As per Serive Charges Manual.
SHARE LINKAGE
As per extant Shareholdings Norms
INSURANCE
Comprehensive insurance of all Assets hypothecated/mortgaged
OTHERS
Payments will be made directly to the suppliers /dealers. In case of construction of premises, the loan may be disbursed in phases after verifying the plan. Reimbursement of loan would be allowed against Certificate of CA, proof of payment and bills/receipt.