Untitled Page
All-India Toll Free number1800 22 22 441800 208 2244 All-India Toll Free number for PMJDY Scheme1800 22 22 43
  Consent form for Aadhar and mobile Seeding new
Dedicated Number for NRI+918025302510 Link your Aadhaar Number new Update your FATCA/CRS Details new Aadhaar Seva Kendra/Aadhaar Enrolment Centre new
 
 
facebaook twitterlinkdin Instagram   YouTube
Retail Loans
Union Health
FeaturesForms & DocumentsFAQs

Eligible individuals

 

Any qualified registered medical practitioner with minimum three years experience and in the age group of 25 to 65 years in any Branch of medical science, with minimum qualification of:
a.MBBS
b.BAMS (Bachelor of Ayurvedic Medicine and Surgery)
c.B.H.M.S.Bachelor of Homoeopathic Medicine and Surgery
d.BDS(Dentist) or
2.Degree in Para medical service like
a.X-Ray Technology and Radiology
b.Medical Laboratory Technology
c.Physiotherapy
d.Optometry of Ophthalmic Technology
All courses / degrees should be recognized by statutory authorities in India Firms engaged in medical profession (including limited liability companies/partnerships) in which only Doctors/Dentists are Partners/Proprietor/Promoters.

 

PURPOSE

 

  • For purchase of brand new electro medical and other sophisticated equipments including operation theatre equipment, air conditioners, generators, personal computer and accessories with software for diagnosis and UPS system.
  • Purchase of equipment, machinery and any other items to start clinics.
  • For acquiring premises for setting-up of clinic, furnishing and cost of medicines, if any to be procured.
  • Purchase of ambulance for hospital / clinic.
  • Purchase of vehicle for use by Doctor Promoter/Doctor Employees, when taken along with loan for other purposes i.e. premises, equipment etc. i.e. a composite loan.
  • Expansion / renovation / modernization of existing premises of the Hospital / Nursing Home.
  • Equipment for scanning centres / polyclinic / pathological laboratory / diagnostic centre / physiotherapy centre / set-up by radiologists / qualified doctors.
  • Composite loan is also permissible i.e.
    Purchase of equipment / machinery/ vehicles etc
    AND
    Acquisition of premises and/or expansion / renovation / modernization of existing premises.
  • Finance for the refundable deposit amount (of premises taken on lease) can be considered with a maximum cap of up to ‘6 month rent’ or ` 30 Lakh, whichever is lower, subject to following terms and conditions:
  • Lease agreement must be registered
  • Lease agreement must cover the entire tenure of loan and the lease period not to be, in any case, less than tenure of the loan
  • The same must be considered against a tripartite agreement between bank, lesser & lessee
  • The refundable deposit amount to be released directly to the owner of premises with an undertaking from the owner of premises that he/she will refund the deposit amount, to the party through the bank only
  • The entire refundable deposit amount returned will go towards settlement of the loan and in case there is any surplus left the same will be returned to the borrower

 

ELIGIBILITY

Any qualified registered medical practitioner with minimum 3 years experience and in the age group of 25 to 65 in any branch of medical science, with minimum qualification of:

  • MBBS
  • BAMS (Bachelor of Ayurvedic Medicine & Surgery)
  • B.H.M.S. (Bachelor of Homoeopathic Medicine & Surgery)
  • BDS (Dentist)
OR

Degree in Para medical services like

  • X-Ray Technology and Radiology
  • Medical Laboratory Technology
  • Physiotherapy
  • Optometry of Ophthalmic Technology

All courses/degrees should be recognized by statutory authorities in India

A medical graduate with minimum one-year experience can be considered for financing under the scheme with a maximum loan quantum restricted to ` 20 Lakh. This norm will be applicable only for borrowers having experience between 1-3 years.

Firms engaged in Medical profession (including limited liability companies/ partnerships) in which only Doctors/ Dentists are Partners/ Proprietor/ Promoters

 

 

QUANTUM

 

  • 75% cost of equipments and other assets subject to

Minimum

Maximum

` 2 Lakh

` 800 Lakh

 

MARGIN

 

  • 25% of cost of equipments and other assets to be financed
  • 35% for acquisition of premises and/or expansion/renovation/modernization of existing premises.

 

ROI

 

Fixed

Floating

12%

1Y-MCLR +3.15%

(For advances above Rs 2 lakhs covered under CGTMSE, rate of interest applicable will be 0.50% more than the usual rate)

 

REPAYMENT TENURE

  • Maximum repayment tenure of 84 months
  • Moratorium period of up to 6 months
  • Interest during moratorium period to be serviced as when applied in the account.
  • The repayment period should be co-terminus with the maximum permissible age.

 

PROCESSING CHARGES

  • 0.50% of loan amount + GST
  • Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actual.

 

SECURITY

Purchase of equipment / machinery / vehicles etc.

Prime Security

Collateral Security

Hypothecation of assets purchased / created out of bank’s finance (irrespective of quantum of loan).

50% of loan amount by way of
Mortgage of immovable assets.
Pledge of movable assets like Bank Deposits/ NSCs/ KVPS/ surrender value of LIC policies.


Acquisition of premises and/or expansion / renovation / modernization of existing premises

Prime Security

Collateral Security

Mortgage of land and  building for which advance is given

Nil


Composite loan, i.e. for purchase of equipment/machinery vehicles etc. and acquisition of premises and/or expansion / renovation / modernization of existing premises

Prime Security

Collateral Security

Hypothecation of assets purchased / created out of bank’s finance and mortgage of land and  building for which advance is given.

No separate collateral security need to be insisted for.
The value of land and building for which advance is given, in excess of 100% of loan amount, can be considered as collateral security towards that quantum of loan sanctioned for purchase of equipment / machinery / vehicle etc.
In case of shortfall, further security by way of:
Mortgage of immovable assets.
Pledge of movable assets like Bank Deposits/ NSCs/ KVPS/ surrender value of LIC policies etc

 

PREPAYMENT PENALTY

  • No prepayment charges to be levied if the loan is adjusted by the borrower from own verifiable sources or by genuine sale of asset financed.
  • A takeover charge of 2% to be levied on the average outstanding balance of the preceding 12 months if the loan is taken over by any other bank / FI or adjusted by the borrower in lump sum from any third party/source.

 

GUARANTEE

  • Personal guarantee of all partners in case loan is given to a firm.
  • Personal guarantee to be obtained of all members offering (owning) collateral security and borrowers.

 

I would like to convey my appreciation to you for the timely assistance provided to many of our students that helped them obtain an educational loan for studying at the ISB for PGP 2009-10.
Untitled Page