Tuesday, July 23, 2019
Finance

Indian Bank- IB Doctor Plus

Purpose:

To finance qualified medical practitioners for buying equipment, setting up clinic or clinic-cum-residence or nursing homes, setting up X-ray lab, pathological clinics, polyclinics. Setting up Drug/Medical stores, purchase of vehicles, ambulance, computers, expansion/renovation/modernisation of existing premises.

Eligibility:

Individuals/ Partnership/ Ltd.Co./ Trust. Promoters should have minimum MBBS/ BAMS/ BDS/ BHMS & registered practicioners. Key promoters or their spouse should be qualified doctors.

Quantum of Loan:

Minimum Rs.1.00 lakh and Maximum Rs.50.00 lakhs.

Repayment Period:

Maximum period up to 10 years.

Security:

  • Loans upto Rs 2 lakhs - hypothecation of charge over asset created.
  • Loans above Rs 2 lakhs - hypothecation of assets and LIC policy or other collaterals.

Margin of Loan:

Urban :

  • Upto Rs.5 lakhs-10%.
  • Above Rs.5 lakhs-20%.

Semi Urban / Rural :

  • Upto Rs.5 lakhs- 15%.
  • Above Rs.5 lakhs-15%.

Interest Rate:

WC- BPLR-1.25 TL (equip)-BPLR+TP-1.75 TL (bldg) BPLR+TP-0.75

For more information: Website

Indian Bank- IB Professional Special

Purpose:

For purchase of necessary tools / equipments, vehicles (ambulance/jeep for office use), upgradation of existing equipments/renovation of Office building including Air-conditioners, furnishings, reference books, purchase of new vehicles (even if new vehicle /equipment has already been purchased out of own sources, reimbursement can be allowed, if it was acquired within 6 months).

Eligibility:

Qualified professional(s) like Chartered Accountants, Architects/ Interior Decorators, Qualified caterers etc. who are practicing in Metropolitan/ Urban/semi-urban areas, with minimum of 3 years experience (including internship). The scheme is generally applicable only to resident Indians (either individual or Registered Firm) not above 60 years.

Quantum of Loan:

Experience exceeding 3 years - Max. Rs. 5 Lakhs with an overall ceiling of 12 months gross monthly projected income with the previous year's income as indication Experience less than 3 years - Loan restricted to 50% of the eligible amount.

Repayment of Loan:

60 EMI with an option for holiday period of 6 months (MAX).

Security of Loan:

Assets created, if any, out of the loan amount for the advance upto Rs.1 lakh For limits above Rs 1.00 lakh, hypothecation of Equipments/ assets purchased out of the loan Where creation of tangible security is not involved, LIC Policy to the extent of shortfall in security coverage.

Margin of Loan:

No margin for loan upto Rs.1 lakh limit Above Rs.1 lakh, a margin of 20% is to be brought in.

Rate if Interest:

BPLR+TP+0.25

For more information: Website