For buying equipment (For dentists, the loan also covers dental implants besides equipment; for orthopedists, the loan also covers various replacements/ implants for hip/knee/shoulder/spine etc.)
Setting up clinic, nursing home, pathology labs, drug store, ambulance, computers, vehicles, etc.
Expansion/renovation/ modernization of existing premises.
Target Group : Medical practitioners of allopathic discipline, promoters of allopathic hospitals and nursing homes, pathological clinics, polyclinic, X-ray labs; any activity of allopathic discipline.
Quantum of loan (Min/Max)
In Metro/Urban/other centers:
For Corporate/Partnerships/Individuals: From Rs. 10 lacs to Rs. 5 crores.
Margin (%) : Margin @ 15% uniformly.
Pricing : Competitive Interest Rate Linked to MCLR
Repayment Period
Term Loan: Loan is repayable in 3-7 years (including moratorium period of 6 months)
Repayment to commence after 6 months of first disbursement. Repayment can be equated or customized as per the cash accrual of the unit.
Interest to be serviced on a monthly basis during the moratorium period
Processing Fee/Upfront Fee : 50% concession on card rates.
Eligibility Criteria
Individuals/Partnerships/ Corporate/Trusts (with powers to borrow)
Promoters should be registered practitioners and should possess minimum qualification to practice in allopathic discipline such as MBBS, BDS, etc.
Collateral Security
No tangible collateral security for loan amounts upto Rs. 2 crores: They are to be covered under CGTMSE.
For loans above Rs. 2 crore and upto Rs. 5 crores: Minimum 25% tangible collateral security and Personal guarantee of promoters.
Other Conditions
Cash flow generated out of the equipment financed under the product should mandatorily be routed through a Bank account maintained at the branch.
