Citizen Credit Co-operative Bank Limited offers Medical Fraternity. Any qualified medic having a degree or diploma is eligible to receive this loan. The loan is offered for the purchase or renovation of clinic, purchase Medical Equipment, purchase of vehicle etc.
The bank has offered to sanction 75% of the agreement value or estimate for premises, 75% of the value of the equipment and 75% of the estimate for vehicle. The repayment period of the loan is three to five years. There is no pre-payment penalty.
The present rate of interest is 11.00% p.a. The interest rate is also calculated based on the daily reducing balance of the loan. The securities required for the loan are mortgage of premises, hypothecation of equipment or vehicle to be purchased, two guarantors and any other security that may be deemed necessary by the bank.
The documents required are proof of residence (Xerox copy of Ration Card/Electricity Bill/Telephone Bill); copy of degree or diploma certificate, in case new premises Agreement Value, Estimate for premises, invoice valuation certificate for purchase of vehicles just like any other personal loan.