Eligibility
Doctors having minimum qualification MBBS / BDS.
Purpose
Setting up / acquiring / renovation / expansion of clinics , Hospitals / Pathological / Clinical labs , Scan / Diagnostic Centers , Nursing Homes, Sanatorium etc and purchase of vehicles, ambulances, computers etc.
Type of credit
Term Loan / CC/ OD
Quantum of advance
Maximum quantum under the scheme Rs.1 crore out of which, ODP / CC Hypn. limit ( maximum ) upto Rs.10 lac may be allowed , on merits of each case for meeting expenses like salaries, wages, medicines, consumable items, traveling, short term professional courses etc, after assessment of requirement
Margin
15%
Security
- Movable Assets: Hypothecation of assets acquired.
- Immovable Assets: Equitable / legal mortgage of property in the name of self / spouse / major children.
Collateral Security
- Upto Rs.25 lac - No Collateral required, if covered under CGTMSE
- Above Rs.25 lac upto Rs.1 crore - Collateral to be taken as per Bank policy.
Rate of Interest
BR + 3.55 = 14.30
Guarantee
- Upto Rs.25 la : No guarantee required, if covered under CGTMSE. Spouse may preferably be taken as Co-borrower.
- Above Rs.25 lac and upto Rs.1 crore: 3rd party guarantee of substantial means.
- Guarantee of owner of property, other than the borrower, should be obtained invariably.
Additional Benefit
50% concession on locker rent for self and spouse for first two years, who avail loan under this scheme.
