Tuesday, October 15, 2019
Finance

Bank of Baroda- Baroda Loan to Doctors

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. 

Key Benefits:

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.

Eligibility:

  • Individuals, Proprietorship / Partnership firms, Private Limited companies engaged in providing medical / pathological / diagnostic services to the society.

  • Applicants / Promoters should have recognized qualification in any branch of medical science like MBBS / BAMS / BDS or any degree / course in physiotherapy / radiology etc.

Quantum of Loan:

  • Minimum: Rs.50,000/-

  • 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 Fee:

Processing charge for Baroda loan to doctors is 0.35 % for maximum of Rs.15,000/-

For more information: Website