UNION HEALTH

ELIGIBILITY Any qualified medical practitioner / Dentist in the age group of 25 to 60 years with minimum three years experience and in the age group of 25 to 60 years. Firms / Companies engaged in medical profession in which Doctors / Dentist are Partners or Directors or the Proprietor.  QUANTUM An amount equivalent to 75% of the equipment cost and other Assets to be financed.    MARGIN Minimum 25% of cost of equipments and other assets to be financed.    REPAYMENT Maximum 7 years including initial moratorium period of 3/6 months - By Equated Monthly Instalments.    RATE OF INTEREST  (w.e.f. 01.07.2009) A Fixed Interest rate of 12.50% for Individuals and 12.50% for others. Interest rate will not undergo any change till full repayment of the loan .    PROCESSING CHARGES(EXCLUDING SERVICE TAX) 0.50% of loan amount.    SECURITY Hypothecation of equipment / items purchased out of Bank finance. Collateral security 50% of loan amount. EM of premises in case the loan is for acquiring premises.    OTHER CONDITIONS Third Party gurantee is not mandatory No Prepayment penality if the loan is adjusted by the borrower from his own verifiable legitimate sources or genuine sale. However, 2% charged on an average o/s. balance of last 12 months if loan is closed on take over by other Banks / Financial Institutions. * Rate of Interest prevailing on the date of sanction shall be applicable.