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Oriental Bank of Commerce- Loan to Doctors
Purpose of Loan:
For purchasing clinic premises, plant &
machinery, furniture & fixtures, private vehicles, ambulances
and medical equipments etc.
Eligibility:
Qualified registered medical practitioners with minimum
qualification of BIMS/ BAMS/ BUMS/ DHMS/ BHMS/ BPT/ MBBS/ BDS and
above.
Quantum of Loan:
Security:
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Doctors having qualification of MBBS/BDS and
Higher professional degree: No collateral security except one
third party Personal guarantee of person having adequate net
worth preferably of spouse.
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Doctors having qualification of MBBS/BDS and
Higher professional degree: No collateral security except two
third party Personal guarantee of person having adequate net
worth, one guarantee shall be of spouse.
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For loan above Rs.5.00 lacs and upto Rs. 10.00
lac: Tangible collateral security equivalent to 50% of the loan
amount and one personal guarantee preferably of spouse.
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For loans above Rs. 10.00 lac: Tangible
collateral security equivalent to 75% of the loan amount and one
personal guarantee preferably of spouse.
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In case loan is granted for acquiring premises,
other term loans and working capital requirement. The loan for
the premises shall be secured by mortgage of the property
purchased and no additional collateral security may be insisted,
however, the borrower shall furnish tangible security equivalent
to 50% of the uncovered portion of other term loans including
working capital loan.
Repayment:
- Total repayment period including moratorium period shall not
exceed seven years.
- Maximum moratorium period shall not exceed one year based on
the justification and merits of the case.
- Term loan to be repaid in equated monthly installments.
Rate of Interest: with effect from 01.04.2009:
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Micro Enterprises
- Upto Rs. 50,000/- PLR - 3.25% i.e 08.75%
- Above Rs. 50,000/ - and upto Rs. 2.00 lac PLR -
2.50% i.e 9.50%
- Above Rs. 2.00 lacs and upto Rs. 25.00 Lac PLR –
2.25% i.e. 9.75%
- Limit Above Rs. 25 Lac and upto Rs. 1.00 Crore
- If credit rating is A++ - PLR - 2.50% i.e 9.50%
- If credit rating is A+ - PLR - 2.00% i.e 10.00%
- If credit rating is A - PLR - 1.00% i.e 11.00%
- If credit rating is below A - PLR i.e. 12.00%
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Small Enterprises
- Upto Rs. 50,000/- PLR - 2.75% i.e 9.25%
- Above Rs. 50,000/ - and upto Rs. 2.00 lac PLR -
2.00% i.e 10.00%
- Above Rs. 2.00 lacs and upto Rs. 25.00 Lac PLR –
1.75% i.e. 10.25%
- Limit Above Rs. 25 Lac and upto Rs. 1.00 Crore
- If credit rating is A++ - PLR - 2.00% i.e 10.00%
- If credit rating is A+ - PLR - 1.50% i.e 10.50%
- If credit rating is A - PLR - 0.50% i.e 11.50%
- If credit rating is below A - PLR+0.50% i.e.
12.50%
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- Special concession in rate of Interest of 0.50% in case of women
doctors.
For more information: Website
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Oriental Bank of Commerce- Loan to Professionals
Purpose of Loan:
For purchase of Office Premises, P & M,
Furniture & Fixtures, renovating existing business premises
private vehicles and other equipments.
Eligibility:
Registered practicing Lawyers, architects, Chartered
Accountants, Engineers, Journalists, Management Consultants, Software
Engineers and any other professional holding with a degree/diploma
or who in the opinion of the Bank is technically qualified.
Quantum of Loan:
Maximum term loan of Rs.20 lakhs.
Rate of Interest:
Rate of interest with effect from 01-01-2009 is:
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Micro Enterprises
- Upto Rs. 50,000/- PLR - 3.25% i.e 8.75%
- Above Rs. 50,000/ - and upto Rs. 2.00 lac PLR -
2.50% i.e 9.50%
- Above Rs. 2.00 lacs and upto Rs. 20.00 lac PLR
– 2.25% i.e. 9.75%
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Small
Enterprise
- Upto Rs. 50,000/- PLR - 2.75% i.e 9.25%
- Above Rs. 50,000/ - and upto Rs. 2.00 lac PLR -
2.00% i.e 10.00%
- Above Rs. 2.00 lacs and upto Rs. 20.00 lac PLR
– 1.75% i.e. 10.25%
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Security:
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Upto Rs.5 lakhs : 50% of loan
amount in the shape of collateral security and one personal
guarantee, preferably of spouse.
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Above Rs.5 lakhs : 75% of loan
amount in the shape of collateral security and one personal
guarantee, preferably of spouse.
Repayment of Loan:
Maximum 84 months by equated monthly installments
including moratorium period not exceeding 12 months.
Process Fee:
0.50% of the limit amount subject to minimum of
Rs.500/-
For more information: Websitet
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