Loan for Medical Practitioners

V DOCTOR

 

Purpose

  • Acquiring premises & expansion /renovation/modernization of existing premises.
  • Purchase of medical equipments/ambulance/car/vehicle.
  • Meeting working capital needs.
Eligibility
  • Qualified Registered Medical Practitioners with minimum experience of 1 years.
  • Firms/Companies where majority of share holding is by qualified medical practitioners.
  • Trusts engaged in rendering professional medical services.
How much you are entitled to?
  • Term loan:Maximum of Rs.500.00 lakhs.
  • Working Capital: Maximum of Rs 20.00 lakhs
What is your contribution?
  • 25% formedical equipments/ stock/assets acquired out of our finance.
  • 35% for purchase/construction/expansion/renovation/modernization of premises.
Security
  • Hypothecation of assets acquired out of bank finance & collaterally to be secured by mortgage of property.
  • Mortgage of property in case of construction/acquisition of land & building.
Guarantee
  • No guarantee/collateral for loans up to Rs.100.00 lakh if covered under CGTMSE.
Repayment period
  • Working capital – one year (can be renewed on yearly basis).
  • Term loan – Maximum of 84 months.
  • Repayment Holiday – Maximum of 6 months within the maximum repayment period.
Rate of interest
  • Base Rate + 1.55 = 11.20% p.a. (floating).
Pre-payment/Pre-closure charges.
  • No Pre-payment/Pre-closure Charges shall be levied.
Processing charges
  • Ranging from 0.16% to 0.56% of sanctioned limit.
For more details contact our nearest branch or call to our toll free no 1800 425 5885.
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