Bank of Baroda brings to you Baroda Loan to Doctors, a one of its kind, designed specially to cater to the financial needs of the doctors. The advance is available for projects related to setting up / expansion of nursing home / hospital / clinic and pathological lab etc.
The loan can be availed as a demand / term loan and / or overdraft as per your preference.
Purpose of Loan:
Development of clinic / Clinic-cum-residence, Nursing Home, Pathological Laboratory.
Purchase of medical / diagnostic equipments.
Setting up of operation theatre.
Purchase of office equipments viz. computers, fax, air-conditioners and furniture etc.
Purchase of car, ambulance, etc.
Expansion/ renovation/ modernization of existing premises/ Clinic/ Nursing Home.
Working Capital requirement including stock of medicines.
Individuals, Proprietorship / Partnership firms, Private Limited companies engaged in providing medical / pathological / diagnostic services to the society.
Quantum of Loan:
Maximum: Rural/ Semi-Urban: Rs.15,00,000/- (sub limit for W/C Rs.1/- lac) and for Urban / Metro: Rs.50,00,000/- (sub limit for W/C Rs.3/- lac).
Margin of Loan:
Loans up to Rs. 5/- lacs (where no collateral is stipulated): 25%.
All other cases: 15% of the cost of project / equipment.
Working Capital: Nil
Repayment of Loan:
Repayment of loan is 60 months including moratorium period of 6 months.
Rate of Interest:
Interest rate of Baroda Loan to Doctors with effect from 1-4-2009 is:
Upto Rs. 2,00,000/- : 1.00 % below BPLR i.e. 11.00%.
Above Rs. 2,00,000/- : 1.50 % below BPLR i.e. 10.50%.
Processing charge for Baroda loan to doctors is 0.35 % for maximum of Rs.15,000/-
For more information: Website