Purpose
For acquisition of equipments, houses, buildings, flats, vehicles, furniture & fittings, medicines etc. for starting / smooth operation of the existing private practice. Loans can also be granted for constructing / acquiring additional area or for renovation / alterations.
Loan Amount
Rs 2 Lakhs to Rs 20 Lakhs (including maximum working capital limit of Rs 3 Lakhs).
Eligibility
Professionals / Registered Medical Practitioners in any branch of medicine with repayment capacity Installments of the proposed loan fixed, if any, shall not ordinarily exceed 25% of the total monthly income.
Margin
2 Lakhs to 5 Lakhs - 25%
Above 5 Lakhs - 30%
Period
Term Loan - 10 years
Working Capital limit - 12 months
Repayment Holiday – Maximum 12 months for term loans. (Repayment should commence within four months from the date of last disbursement)
Rates & Charges
Please refer rates & charges page
Repayment
Equated Monthly Installments for term loans.
Co-obligant
Spouse / father .
Security
Assets acquired out of the loan amount.
Collateral security of LIC / Gold 60% of the loan or Govt. Securities etc or
75% of loan amount or
EM of land 100% of loan amount
No need of collateral in case of post Graduate allopathic doctors with specialization, provided they have repayment capacity, can offer two co-obligants and have net worth equal to loan amount