Loan for Establishing and Developing Medical Clinics
Finance for setting up, expanding and modernising medical clinics and healthcare facilities.
Loan Details
Purpose
Purchase of premises, repairs and renovation, furniture and interiors of existing clinics, and purchase of medical and surgical equipment.
Eligibility
Any certified medical practitioner or group of medical practitioners.
Nature of facility
Term Loan
Amount of Limit
Depending upon cost of project subject to exposure limit.
Margin
25% minimum
Moratorium Period
If considered necessary. From date of disbursement till completion of the project. Maximum 24 months. However, interest will have to be serviced by the borrower as and when applied during moratorium period.
Period of Loan and Repayment
Maximum 7 years ( Including moratorium period). By Equated Monthly Instalments (EMIs) after the moratorium period.
Rate of Interest
Processing fees
As per policy of the Bank from time to time. At present nil.
Shareholding and Membership Contribution
2.50% of loan amount for limits of ₹1.00 lakh and above.
Security
Equitable or legal mortgage of the property to be purchased or repaired. Items purchased with the Bank’s finance and collateral security, if required by the Bank.
Guarantors
Two Suitable guarantors with good net worth and acceptable to the Bank.
Conditions Apply – Please visit our branch for complete terms and conditions.