Professional Loan For Doctors

Overview

Being a doctor is an honorable profession, and we at Kalyan Janata Bank recognize your services and provide well designed Kalyan Sushrut Scheme with competitive interest rate, for expanding scale of operations to provide better treatment facilities at your Clinic/ Hospital.

Purpose & Eligibility

  • Purpose:
    • For construction of clinic / hospital / pathology lab / diagnostic center in own site or purchase of ready built premises for clinic / hospital / pathology lab / diagnostic center or construction of clinic / hospital / pathology lab / diagnostic center thereon
    • For repair / renovation / improvement /extension of clinic / hospital
    • For purchase of furniture & fixtures, furnishing, air conditioning, x-ray machine or any other electrification in case of setting up of clinics.
    • Purchase of ‘ambulance’ attached to the clinic / hospital / pathology lab / diagnostic center
  • Eligibility :
    • Any registered medical practitioner physiotherapist (age up to 60 years), with a minimum experience of 12 months
    • Group of medical practitioners who intend to set up hospital / medical unit facilitation center / nursing home / diagnostic center related to medical profession
    • Residential individual / s / firm / company who wants to set up hospital / nursing home, etc.
    • Applicants already having these types of facilities with other banks / financial institutions.
    • Age limit maximum 60 years for individual / s.
  • Source of Eligibility :
    • Borrower’s average 3 years gross income / or income based on projections will be taken into consideration while accepting the Proposal.
    • DSCR should be minimum 1.5

Quantum & Tenure

  • Quantum :
    • Minimum : ₹ 5 lakhs
    • Maximum : ₹ 500 lakhs
  • Tenure :
    • In case of furniture / equipment / machinery / ambulance, etc. : 4 to 7 Years
    • In case of premises : 7 to 10 Years
    • In case of overdraft : Annual review after 12 months but repayable on demand.
    • In case of term loan : Moratorium period of 18 months maximum can be considered, depending on the needs or requirements of project
tenure-image

Documentation & Security

  • Basic Documents :
    • In case of new customer, applicant & guarantors need to open savings / current account
    • Duly signed loan agreement
    • Details of existing on-going loan availed from banks / financial institution
    • Copy of Bank deposits / Life Insurance Policies / Other Investments (if any)
    • Future financials / projections
  • KYC documentation
    • Proof of identity
    • Address proof of applicant
    • 3 Passport sized photographs
  • Application Form
    • Duly filled & signed loan application form
  • Bank Statement
    • Bank statement for last one year
  • For Salaried individuals :
    • Last 3 months’ – salary slips
    • Form 16 or Income Tax Return
  • If an applicant Is a self-employed individuals :
    • Income tax returns of last 3 years, 26 AS from traces
    • Financial statements including balance sheet, profit & loss account and computation of income for last 3 years
    • Licenses / permissions from competent authorities

    • For immoveable property :
      • Chain of all previous title documents (agreements of sale and registration receipts)
      • Share certificate in case of Co-op. Hsg. Society
      • Latest receipt for maintenance charges and property tax payment.
      • NOC and no dues certificate from Co-op. Hsg. Society / builder
      • NOC for creation of mortgage in bank’s favour from the Co-op. Hsg. Society / builder
    • Other documents :
      • For new ambulance : Pro-forma invoice from an authorized automobile dealer.
    • Remaining documents as per vehicle loan :
      • For old ambulance : Proof of ownership and proof of present value (valuation report, agreement for sale, depreciated value as per insurance policy)
      • For purchase of capital assets like machinery / equipment / furniture etc. Dealer’s / vendor’s pro-forma invoice to be submitted.
      • For renovation / alteration of existing premises, architect’s / contractor’s detailed estimate of expenditure to be submitted.
      • Stamped receipt of any advance paid to builder / contractor etc.

    • Principal Security:
      • Hypothecation of Equipment / Machinery / Furniture / Ambulance, etc.
      • Mortgage of Clinic / Hospital premises to be acquired / purchase / constructed.
    • Collateral Security :
      • No collateral security is required for loan up to ₹ 10 lakhs.
      • No collateral security is required for loan up to ₹ 10 lakhs.25% collateral security is expected for purchase of equipment / machinery / furniture / ambulance, etc.
      • No separate collateral security is required if the proposal is for purchase of premises for clinic / hospital premises (ext. of mortgage charge available on immovable assets)

ROI & Important Terms

  • ROI :
    • Please click here to know about latest ROI & Service Charges.

    • Applicant has to be a regular shareholder of the bank. The guarantors have to be either a regular member (shareholder) or a nominal member (in case of loan amount up to ₹ one lakh) of bank.
    • Standing Instruction (SI) Request / ECS or NACH instructions / Post Dated Cheques (PDC) to be submitted to the bank as per requirement.
    • Search report and title clearance report for the property to be obtained from bank’s panel advocate. Professional fees / charges for the same to be borne by the applicant, even if the loan proposal is not sanctioned by the bank.
    • Valuation of the property is to be carried out by bank’s panel valuer. Professional fees / charges for the same to be borne by the applicant even if the loan proposal is not sanctioned by the bank.
    • Insurance premium for mortgaged property for the full tenure of the loan to be borne by the applicant.
    • All conditions stipulated in the advocate’s title clearance report are to be fulfilled before consideration of the loan proposal.
    • Inspection of the property / site will be carried out by bank officials. Applicant has to make necessary arrangements for this.
    • Formalities regarding recording bank’s charge on the property by the builder / co-operative housing society and transfer of share certificate in the name of the applicant / borrower by the co-operative housing society, are to be completed as early as possible. The applicant / borrower has to ensure and take active responsibilities for this.
    • Before disbursement, applicant has to provide margin money and necessary amount to meet all the expenses (as mentioned above & as per service charges). Adequate amount for the purpose is to be deposited in the bank account in advance.