Eligibility |
- Any qualified medic having a degree or diploma
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Purpose Of Loan |
- Purchase / Renovate Clinic
- Purchase Medical Equipment
- Purchase of vehicle
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Sanction Limit |
- 75% of the Agreement Value/Estimate for premises
- 75% of the value of the equipment
- 75% of the estimate for vehicle
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Repayment
period |
- 3 - 5 years
- No pre-payment penalty
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Rate of interest |
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Security |
- Mortgage of premises
- Hypothecation of equipment or vehicle to be purchased
- One guarantor with adequate net worth
- Any other security that may be deemed necessary by the bank
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Collateral |
- Proof of Residence - Aadhar Card Card/Driving license/ Passport/ Electricity Bill/ Telephone Bill
- Copy of Degree/Diploma Certificate
- For new premises - Agreement Value
- For old premises - estimate
- For vehicle - Invoice/Valuation Certificate
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Documents
Required |
- Prescribed loan application form
- Latest Photograph, Photo ID proof and Residence proof of Applicant
- I.T. returns for last 3 years (fresh Doctors– IT returns not to be insisted)
- Quotation of the equipment / furniture / renovation
- License to practice
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