Term Loan/CC For Doctors
Purpose
- Construction /purchase /renovation and extension of nursing home /clinic/health center /pathology labs etc
- Purchase of medical equipment such as X RAY /C.T Scan machines dental chairs etc
- Purchase of Ambulance, personal car generator set etc.
- Purchase of computers ,furniture fixture ,beds etc
- Keeping ready stocks of medicines ,injections etc
- Establishing blood bank etc.
- Takeover of existing credit facilities from other banks /financial institutions
Who Can Borrow
- Any individual having a Bachelors / Master’s Degree in the field of Medical Sciences including Ayurveda ,Homeopathy from an university recognised by Indian Medical Council with two years practice as a medical practitioner
- Any Company, Society or firm engaged in medical services provided at least one of its directors /Members /partners possesses above qualification.
Type Of Facility
- Term Loan – Maximum limit Rs 500 lac
- Cash Credit Limit – Maximum Rs 100 lac
Margin
- Minimum 25%
Rate Of Interest
- The rate of interest as decided by the bank from time to time would be applicable
Security
- Up to 5 lac – NIL
- Above 5 lac – equitable mortgage of immovable property / duly discharged
- NSC etc and /or Term deposits of our bank
Guarantors
- Two guarantors acceptable to bank
Processing Fees
- 0.50% of the loan amount + GST
Share Holding
- 1.5% of loan amount
Documents Required
- Photograph , PAN and KYC documents of borrower and guarantor
- Medical degrees and license to practise
- Balance Sheet of last three years, ITR of last three years, Bank statement of business a/c for last six months.
- Partnership deed and registration certificate in case of partnership firms, Certificate of incorporation, date of commencement of business and memorandum and article of association in case of companies where applicable
- Relevant documents related to the property being mortgaged like Title Deed, mutation copy, sanctioned map etc as applicable)
- Statement of a/c and classification report/ conduct of the a/c from the transferor bank in case of takeover loan