Purpose – To finance qualified medical practitioners; for buying equipments (For dentists the loan also covers dental implants besides equipments. For orthopedists, the loans also covers various replacements implants for hip knee shoulder spine etc.)
Setting up clinic, nursing home, pathology labs, drug store, ambulance, computers, vehicles; Extension renovation modernization of existing Premises
Eligibility – Individuals Partners Corporates Trusts (with powers to borrow)
Promoters should be registered practitioners and should possess minimum qualification to practice in a discipline such as MBBS/BDS/BAMS/GAMS/BHMS
Target Group – Medical practitioners of any discipline, promoters of hospitals and nursing homes, pathological clinics, polyclinics, X-Ray labs etc
Type of facility – Medium Term Loan
Quantum of Loan – Maximum of Rs. 25.00 lakh with a sub-ceiling for working capital limit at 10%
Security – Primary- Hypothecation of Assets; Collateral- As per extant norms of the bank
Insurance – Insurance of assets purchased out of bank loan and in respect of vehicles comprehensive insurance as laid down
Processing Charges – O.5% of loan amount; Minimum Rs. 500-
Repayment – Maximum DSCR 11.5; Maximum period up to 7 years; Maximum moratorium 12 months