||For meeting term loan and/or working capital requirements of the applicant,
||a. All qualified registered medical practitioners in any branch of medical sciences like Allopathy, Dental, Ayurvedic, Unani, and Homeopathy having practical experience of carrying on the business.
|Rate of Interest & Repayment
||Rate of interest as per prevailing guidelines of the Bank linked to RLLR of the Bank, subject to changes from time to time.
Repayment: TL-Maximum - 7 years
WC – Tenability 2 yearssubject to annual review
||a. Mortgage of land and building for acquisition/construction of which term loan is granted, subject to ensuring mortgageability of the property.
b. Hypothecation of equipment’s for which term loan is granted.
c. Hypothecation of stocks of medicines, consumables in case of working capital (OCC).
d. Up to Rs100 lakh, eligible loans shall be covered under CGTMSE, otherwise suitable security in the form of immovable property / approved securities not be less than 100% of the loan amount shall be insisted.
e. Agriculture land, Immovable property/ies standing in the name of Hindu Undivided Family who are proprietor/partner(s) in the borrowing unit, Properties which are tenanted, Properties in the name of the directors and their close relatives in the case the borrower is a Public Limited Company are not be taken as security.
|Composite /loan Limit
||Depending on the requirement as per the project report/assessment as per prevailing guidelines, subject to a MAXIMUM OF RS.5 CRORES
|Sub limit for working capital
||20% of the maximum limit subject to a ceiling of Rs.50 lakhs
|| Upto Rs 25000- NIL Above Rs 25000:
a. Term loan for construction of business premises including resident doctors quarters-25%
b. Term Loan for equipments -20%
c. Working capital-20%