|Purpose||For construction / Purchase of Hospital / Clinic Premises.
Renovation / Alteration of existing Hospital / Clinic Premises, etc.
Purchase of Furniture / Hospital equipment’s.For Pathology Lab / X-Ray Machine / Diagnostic Centre etc.
Purchase of ‘Ambulance’ attached to Hospital.
Working capital requirement
|Eligibility||1. Experienced or Fresh Registered Medical Practitioner only.
2. Group of Medical Practitioners who are going to set up Hospital / Medical
Unit Facilitation Centre / Diagnostic Centre related to Medical profession.
3. Individual/Firm/Company who are going to set-up Hospital.
4. For Applicants already having these type of facilities with other Banks / Financial Institutions.
5. Age limit maximum 60 years.
|Maximum Loan Amount||Minimum - ₹ .5.00 lakhs [₹ Five lakhs only]
Maximum - ₹ 300.00 lakhs [₹ Three Crores only]
|Margin|| 25% on cost of Machinery,
 25% on Estimate of Renovation/Alteration
 20% on Immovable Property under purchase.
 Nil on basic price of Ambulance (Excluding RTO Tax, Insurance etc.)
 50% of Immovable Property (if facility is availed against existing property)
|Repayment Period|| For Furniture / Equipment / Machinery / Ambulance, etc.: 48 to 84 months.
 For Premises: 84 to 120 Months.
 For Overdraft: Annual review after 12 Months, but repayable on Demand.
(MORATORIUM period of 18 Months maximum allowed, depending on the need / requirement of Project in case of  & .
|Rate of Interest||10.90 % to 11.50%|
|Security|| Hypothecation of Equipment / Machinery / Furniture / Ambulance, etc.
 Mortgage of Clinic / Hospital premises to be acquired / purchased / constructed.
|Guarantators||Minimum 2 Guarantors having adequate means & income acceptable to Bank.
Spouse / Parents/Blood Relatives of applicant acceptable.
|Collaterals|| No Collateral Security is required for loan up-to Rs.10.00 lakhs.
 25% Collateral security is expected for purchase of Equipment / Machinery / Furniture / Ambulance, etc.[If only Movable Security is available]
 No Collateral Security is required if the proposal is for purchase of Machinery/Equipment and Clinic / Hospital Premises
(Ext. of Mortgage charge on available Immovable assets)
|Subscription of Bank's Share||1%|
|Pre-payment Charges||NO PREPAYMENT CHARGES|
Terms & Conditions Apply.
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