Any Registered Medical Practitioner /Physiotherapist , in the age group of 25 to 60 years with a minimum experience of 12 months.
In case of loans upto Rs.10 lakhs, close relatives [ i.e Spouse, Father, Mother, Son, Daughter] with regular and independent income may join as co-applicants, though they are not Doctors. However, number of co-applicants shall be restricted to Two.
Two OR more registered medical practitioners jointly or a Partnership Firms where at least 50% of the partners shall be Doctors.
A Company owned by at least upto 50% by Doctors.
Hospitals which are being run /managed by Trusts / Companies/ Institutions.
Professionals managing Medical Diagnostic Centers & Testing Labs
Repayment period shall not exceed 70 years of age of the applicant unless co-applicant has independent income to service the loan.
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.
Where loan is for purchase of site and construction of hospital/clinic, value of the land shall not exceed 50% of the project cost.
In case of purchase of ready built property for Hospital/Clinic, age of the building shall not exceed 30 years. However, residual /balance life of the building shall be at least 5 years more than the repayment tenor.
For purchase of furniture & fixtures, furnishing, Air conditioning, Electrification in case of setting up of clinics.
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.
For purchase/installation of Lift/Elevator, Solar water heating system, Solar Electrification system, Wind Mill Generator etc.
For repair/ renovation/ improvement/extension of clinic/hospital against the security of clinic/hospital or any other immovable property /other financial assets after maintaining prescribed margin on respective security. Further, 25% margin shall be maintained on project cost.
Maximum of Rs.5 crore.
For Medical equipments: Maximum of Rs.2.50 crore.
For Physiotherapist, maximum loan for purchase of physiotherapy equipments is restricted to Rs.50 lakh.
For purchase/construction of Hospital/Clinic :35% For purchase of Medical equipments/Other items :15%
Loans up to Rs.10 lakhs are to be secured by hypothecation of Machinery/ equipments/ assets, financed by the bank and a suitable third party guarantee at the discretion of the bank.
For loan above Rs.10 lakhs, entire loan to be invariably secured by collateral security of immovable property OR other approved securities like Bank deposit/NSC/LIC policy/etc valued at least at 50% of the loan amount in addition to the hypothecation of assets financed.
In case of purchase of ready built building for Hospital/Clinic, age of the property shall not exceed 30 years. However, residual /balance life of the building shall be at least 5 years more than the repayment tenor.
Rate of Interest
Floating rate of interest is linked to the MCLR & subject to annual reset.
In case of construction/ repair /renovation/improvement/ extension of clinic/hospital, maximum repayment tenor may be upto 15 years excluding maximum initial repayment holiday period upto 24 months.
In case of purchase of medical equipment, maximum repayment period shall be 84 months excluding maximum initial repayment period of upto 6 months depending on the durability and useful life of the asset.