Ratnakar Bank- Loan for Professionals/ Purchase of Medical Apparatus

Purpose of Loan:

For setting of offices, dispensaries, hospitals, modernization of infrastructure, purchase of office equipments, medical apparatus, machinery etc.

Eligibility:

Target Group Professionals such as Doctors, Dentists, Architects, Chartered Accountants, Company Secretary, Engineers.

Quantum of loan:

Minimum Rs.2.50 Lakhs.
Maximum Rs.10.00 Lakhs

Security:

100% of loan amount by way of Movable / Immovable assets or paper securities such as LIC/ NSC/ KVP/ Shares/ Govt. Securities/ Bonds (Market Value / Surrender Value to be considered).

Interest Rate:

PLR =11.75% (Rebate not applicable)

Processing Charges:

Rs 300/- per lakh or part thereof.

Documents to be obtained:

Form No. 51-A- Waivers Letter.
Form No. 51 – Demand Promissory Note.
Form No. 54/53 – Loan /Overdraft/cash credit Agreement.
Form No. 66 –Letter of Guarantee On Rs.100/- stamp paper.
Legal Report
Valuation report
Personal Life cover Insurance Equal to Limit Sanctioned Policy is taken. (No Profit) under tie-up arrangement.