Purpose: To construct Purchase hospital building setting up nursing home poly clinics etc. for expansion modernization of existing hospital premises. To purchase medical equipments and furniture
Eligibility: Individuals (Qualified registered medical practitioner) Partnership firm Limited Company. In case of partnership firm limited company, either one of the partner’s director’s should be qualified registered Medical practitioner or they should engage the services of Registered Medical Practitioners in the Hospital.
Quantum of Loan: Maximum of Rs. 500 Lakhs
Rate of Interest: 10.50%
Margin: For Equipment, Machineries – 25 %; For Furniture – 40 %; For Construction Purchase of Building for Hospital – 30 %
Security: Mortgage Hypothecation of assets created with bank finance; Guarantee of Credit worthy persons.
Repayment: Maximum 120 Months including moratorium period of six months (For construction Hospital) – (60 Months – for equipments furniture)
Processing Charge: 0.50% of the loan amount + Service Tax
Insurance: Comprehensive insurance with our Bank clause has to be made on all the assets hypothecated to our bank.
Prepayment: No Pre-Payment charges
Others: No Floating Rate – Which means fixed rate during loan period; Interest application on daily Reducing Balance