1. Eligibility
| v | Any Registered Medical Practitioner in the age group of 25 to 60 years with a minimum experience of 12 months. |
| v | Close relatives may join as co-applicant/s if they are also Doctors. |
| v | Repayment period shall be between 18 years to 65 years subject to the condition that repayment tenor shall not go beyond the retirement age in case of salaried class and 70 years in case of other than salaried class. |
| v | Loan for new Doctor/s considered on a case to case basis, based on the merits of the case |
| v | Two OR more registered medical practitioners jointly OR a Firm managed by Doctors. |
| v | A Company owned by at least upto 50% by Doctors. |
| v | Hospitals which are being run/managed by Trusts / Companies/ Institutions, where the ownership is at least up to 50% with Doctors. |
| v | Professionals managing Medical Diagnostic Centers & Testing Labs. |
| v | Physiotherapist is also eligible for loan under the scheme for purchase of physiotherapy equipments. subject to the maximum loan of Rs.50 lakh. |
2. Purpose
| v | Loan is for purchase of Brand new Electro Medical & other sophisticated equipments including OT equipments, Air conditioners, Generators, Ambulance, Refrigerators, Personal Computers and accessories with related software and UPS etc. |
| v | In the case of setting up of clinics, purchase of furniture & fixtures, furnishing, Air conditioning, Electrification also financed |
| v | Purchase/ installation of Lift/ Elevator, Solar water heating system, Solar Electrification system, Wind Mill Generator etc., also considered. |
| v | For purchase of ready built premises for hospital/ clinic OR construction of clinic/hospital in own site OR purchase of site & construction of hospital/ clinic thereon. |
| v | Where loan is for purchase of site and construction of hospital/clinic, value of the land not to exceed 50% of the project cost. |
| v | In case of purchase of ready built property for Hospital/Clinic, age of the property not to exceed 20 years. |
| v | Loan for purchase of second hand Medical Equipments not considered under the Scheme. |
3. Loan amount
| v | Loan amount:Maximum loan shall be Rs.5 crore. However, maximum loan for purchase of medical equipments shall be Rs.2.50 crore.Where composite loan is sought for purchase of ready built premises for hospital/clinic OR construction of clinic/hospital in own site OR purchase of site & construction of hospital/clinic thereon, and also for purchase of Medical Equipments, in such case, cost of medical equipments shall not exceed 50% of total project cost. |
4. Margin
For purchase / construction of Hospital/Clinic : 35%
For purchase of Medical equipments/Other items : 15%
5. Rate of Interest
Please click here to download:
6. Security
| v | Loans up to Rs. 10 lakh are to be secured by hypothecation of Machinery/ equipments/ assets, financed by the bank & a suitable third party guarantee. |
| v | Loan for above Rs. 10 lakh are to be secured by collateral security of immovable property OR other approved securities like Bank deposit/NSC/LIC policy/etc valued atleast at 50% of the loan amount in addition to the hypothecation of assets financed. |
| v | In case of purchase/construction of Hospital/Clinic, mortgage of immovable property required, irrespective of loan amount. |
| v | In case of purchase of ready built property for Hospital/Clinic, age of the property shall not exceed 20 years. |
7. Guarantee
Not required. However, based on their risk perception, Sanctioning Authorities may, on case to case basis, stipulate suitable third party guarantee.
8. Assessment
Loan upto Rs.10 lakh: Repayment capacity is arrived at based on net annual income of the borrower/s.
Loan above Rs.10 lakh: Repayment capacity to be assessed based on project report, viability study and DSCR.
9. Repayment
| v | Where loan is for construction/purchase of Hospital/ Clinic, repayment period is upto a maximum of 10 years including initial repayment holiday, if any. |
| v | Where the loan is for purchase of medical equipments, repayment period is a maximum of 84 months in EMIs , depending on useful life of asset. |
10.Processing Charges
0.50% of the loan amount sanctioned subject to a minimum of Rs.1000/-
Note : The charges are exclusive of applicable service tax
11. Prepayment Charges - NIL
EMI Calculator
Corp Doctor Plus - On line Application- Click here
Please click here to download the Application Form:
Please click here for Check List:
Most Important terms & Conditions:
|
