Loan that is specially designed to suit the requirements of medical practitioners and paramedics. The loans are offered under 5 schemes
|Scheme 1||Purchase of medical equipment and tools including ambulance vans.|
|Scheme 2||Purchase of premises for setting up a clinic/polyclinic/Private Nursinghome/hospitals|
|Scheme 3||Purchase of furniture and fixtures, air conditioners and other office equipment|
|Scheme 4||Purchase of cars and two wheelers|
|Scheme 5||Combination of the above.|
Security requirement :
For equipment, the financed asset should be hypothecated to the bank, and for property, the financed real estate needs to be mortgaged.
Minimum 2 persons acceptable to the Bank.
|Scheme 1||20% of the cost|
|Scheme 2||20% of the cost|
|Scheme 3||20 % to 25% of the cost|
|Scheme 4||10 % for Personal Vehicles|
|Scheme 5||Depending on the Package Chosen|
Repayment Period :
60 EMI’s in case of equipments 84 For property loan
Share Linkage :
2.5% of the loan amount
Special Features :
Interest calculated on daily reducing balance.
No prepayment/commitment charge levied unless the Liability is taken over by another financial institution.