Who can Borrow

Individuals / Proprietary concerns / Partnership firm/ Pvt Ltd – consisting of Medical Professionals (excluding hospital projects)

Purpose

Acquisition or construction of own Consulting Room, Specialty Clinic, Polyclinic, Nursing Home or even a Hospital. This would also include any Expansion or renovation plan for existing set, up. To assist in purchase of sophisticated and state of the art Medical Equipments.Financing of Ambulances or specialized Mobile Medical Units Purchase of New Car.

Limit

In cases for purchase of Furniture/ fixtures / equipment’s / machineries / ambulance - Rs.100 Lakh. In case for purchase of premises / against mortgage of premises - Rs.200 lakh.

Margin

ON LAND & Building: -

10% of realizable value for loans up to Rs.30 Lacs

20% of realizable value for loans above Rs.30 Lac

25% ON PLANT & MACHINERY/EQUIPMENTS ETC

10% for New CARS

Repayment Schedule

For Equipment’s/Plant & machinery – 60 months

For Premises – up to 120months (Max)

For Car – 36 to 60 months

Processing Fees

1.50% Plus G.S.T. (minimum Rs.5,000/- + GST)

Legal & Documentation Charges

On Actual Basis

Prerequisites

1. Qualified Medical Practitioner with Good Experience.

2. Income Tax Returns for the last three years along with computation of income.

3. New practitioners to submit detailed project report and feasibility report.

4. statement of bank operations of last one year

5. True copy of the agreement of property to be purchased and other relevant documents.

6. Quotation/Proforma invoice for purchase of medical equipment’s / furniture / interior renovation work for premises purchased/ car /ambulance etc.

7. statement of operational bank account for the last 1 year Compliance of KYC norms.

Foreclosure charges & Charges for late payment of EMI

2% per month on EMI/Principal overdue subject to minimum amount Of Rs.200/-