Loan to Medical Professionals

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