| LOAN TO MEET EXPENSES FOR ESTABLISHING/DEVELOPING CLINIC ETC. |
|
Norms |
| Purpose |
Purchase of premises, repairs/renovation, furniture-interiors of existing clinic, purchase of medical/surgical equipments etc. |
| Eligibility |
Any Certified Medical Practioner/ group of Medical Practitioners |
| Nature of facility |
Term Loan |
| Amount of limit |
Depending upon cost of project subject to exposure limit. |
| Margin |
25% minimum |
| MORATORIUM PERIOD |
If considered necessary. From date of disbursement till completion of the project. Maximum 24 months. However, interest will have to be serviced by the borrower as and when applied during moratorium period. |
| Period of Loan and Repayment |
Maximum 7 years ( Including moratorium period). By equal number of EMIs after moratorium period. |
| Rate of Interest |
CLICK HERE FOR THE RATES |
| Processing fees |
As per policy of the Bank from time to time . At present NIL. |
| Shareholding/Membership Contribution |
2.50% of loan amount for limits of Rs.1.00 lac and above. |
| Security |
Equitable/ legal Mortgage of property to be purchased/repaired. Items to be purchased with Bank’s finance and collateral security if deemed necessary by the Bank. |
| Guarantee |
Two Suitable guarantors with good net woth and acceptable to the Bank. |
| Conditions apply |
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