Purpose

To purchase land, construction of building, purchase of medical equipments, medical software, computer, settings up of lab, renovation / repair of existing premises, purchase of Ambulance, purchase of ready built premises (age of building should not be more than 20 years) etc. 

Eligibility

a)    Loan for qualified Medical Practitioners in all streams (Allopathy, Homeopathy, Ayurvedic, dental, Siddha etc.)

b)    Loan for proprietary / Partnership / private limited companies are eligible.

c)    In case of partnership & private ltd. companies, 50% of the partners / promoter directors should possess the required qualification. 

Promoters Contribution 

Category A: CIBIL Score of promoters above 650: 10% for purchase of medical equipments only with no   stipulation on DER for loans upto Rs.2 crores. 

Category B: CIBIL Score of promoters above 600: 15% for existing units and 25% for new units subject to DER of 3:1.

Quantum of loan  

Minimum: Rs.10 lakhs.

Maximum: Category A: Rs.2 crores

                    Category B: Need based.

Repayment

Category A: 60 months including moratorium period of 6    
    months.

Category B: 9 years including moratorium period of 2 years.

Collateral Security

Category A: Immovable Property to cover 20% or
      security deposit for 20%.

Category B: As applicable for regular term loan.