Doctor Special Loan

Purpose

For acquiring premises on ownership basis
For acquiring Furniture, Equipments, machinery etc.
Renovation, expansion and modernization of existing centre.
We can consider the housing loan portion also, if the building is multistoried and customers have commercial + residential approval for plan from competent authority.

Eligibility

Medical Practitioner having minimum educational qualification MBBS/BAMS/BDS and having independent practice

Limit

Loan to Doctors:
- Rural: Rs.100.00 lakhs
- Semi urban Rs.500.00 lakhs
- Urban and Metros Rs.2500.00 lakhs.
In case of purchase of Furniture, Equipments, machinery etc
- For loan of Rs 50.00 lakh can be granted on hypothecation basis.
- For more than Rs 50.00 lakh , the collateral norms will be applicable.

Repayment

Maximum repayment period for term loan shall be maximum 12 years including moratorium period for purchase/ construction of building loans to doctors.
For other purposes will have repayment period of maximum 7 years.
In case of CC, yearly review / renewal

Interest Rate

9.50% p.a.
If value of collateral security is 100% or more of the loan amount then, a relaxation of 0.50% can be given.

Margin

Security

Primary Security: Registered Mortgage/Hypothecation of assets created out of our finance
Collateral Security:
- No collateral if loan amount is up to Rs 100 lakh and for the purpose of construction of new hospital on already owned plot and ready to be mortgaged as primary security.
- In other cases collateral security of 50% for new borrowers and 40% for existing borrowers having more than 2 years standing is required.