Features

Particulars

Who is eligible?

Promoters should have minimum MBBS/BAMS/BDS/BHMS/BUMS

Loan Facility Available

Term Loan & Overdraft & Cash Credit

Purpose of Loan

OD/CC: To meet working capital requirements

Term Loan: For purchase of specialized medical equipment, setting up of new clinic/hospital, expansion of infrastructure in existing clinic/ hospital

Acquisition of personal items required for effective discharge of the profession e.g. computer, gen set, car etc.

Loan Amount

Minimum: Rs. 10 Lakhs

Maximum: Rs. 1000 Lakhs

Loan Tenor

Term Loan: Maximum 10 years

CC/OD: 12 months (renewable annually)

Pricing

Linked to BPLR

Processing Fees

Processing Fee upto 1% will be charged with a minimum of Rs. 500

Security

Term Loan: Exclusive charge on asset financed

Working Capital: Exclusive charge on all the current assets

Collateral: Mortgage of residential/ commercial properties of appropriate value

Features

Particulars

Who is eligible?

Individuals, Proprietorship/ Partnership Firms, Private Limited Companies engaged in providing medical/ pathological/ diagnostic services to the society. Veterinary doctors/ practitioners are not eligible

Loan Facility Available

Term Loan, Cash Credit

Purpose of Loan

To finance for purchase of various medical equipment. Finance for purchase, construction, addition, alteration, renovation, furnishing of clinics/ Nursing homes/ Medical Centers. Financing towards working capital to meet day to day requirements

Loan Amount

Minimum Rs. 1 Lakh and Maximum Rs. 300 Lakhs (eligibility based)

Security

Primary Security: Hypothecation of primary stock etc.

Collateral Security: Loans upto Rs. 2 Crore: No collateral & Third Party Guarantee

To be compulsory covered under CGTMSE

Rate of Interest

• Total Funded Based Exposure up to Rs. 25 Lacs: UCO Float Rate + 1.55% (UCO Float Rate as applicable from time to time)
• Total Funded Based Exposure more than Rs. 25 Lacs and up to Rs. 1 crore: UCO Float Rate + 2.55% (UCO Float Rate as applicable from time to time)
• Total Funded Exposure more than Rs. 1 crore: Based on Internal Rating

Features

Particulars

Who is eligible?

All entities i.e. MSMEs, Enterprises other than individual like Proprietorship, Partnership Firms, Private Limited Companies and Trusts engaged in providing medical/ pathological or diagnostic services to the society and with turnover up to Rs. 150 crores

Purpose of Loan

To meet the financial requirements for setting up of new nursing home/ hospital including pathological laboratory, expansion/ renovation/ modernization of existing nursing home/ hospital including pathological laboratory, purchase of medical diagnostic equipment as also office equipment viz. computers, air conditioners, office furniture, ambulance etc. and to meet working capital requirements

Loan Amount

• Rural Centres: Rs. 0.50 Crores
• Semi-Urban Centres: Rs. 6 Crores
• Urban: Rs. 12.00 Crores
• Metro: Rs. 15.00 Crores

Security

• Equitable mortgage of land & building/ premises of nursing home/ hospital
• Hypothecation of medical equipment/ office equipment acquired out of loan amount
• Personal guarantee of promoter directors in case of limited companies and trustees in case of trusts
• Hypothecation of medicines, receivables and other chargeable current assets
• Charge on unencumbered assets of promoter directors in case of private limited companies, or any other collateral by way of FDR, mortgage of properties in the personal name of the relatives of promoters etc.

Loan Margin

25%. Higher margins where collaterals are inadequate

Loan Tenure

35 months to 84 months including moratorium depending upon the projected cash flows

Rate of Interest

• Up to Rs. 3 Crores: Base Rate + 1.50% p.a.
• Above Rs. 3 crores & up to Rs. 10 Crores: Base Rate + 2% p.a.
• Above Rs. 10 crores & up to Rs. 15 Crores: Base Rate + 3% p.a.

Features

Particulars

Who is eligible?

Individuals/ Registered partnership firms/ Limited company/ Trust etc. MSME

• Key promoters or their spouse should be qualified medical practitioners, with satisfactory track record
• Passed out students from various streams (Medicine, Dental etc.) planning to set up their diagnostic centre/ clinics in India
• To be eligible for this, the student must have completed the course in MBBS/BDS/BAMS/BUMS from recognized/ approved college

Loan Purpose

Working Capital requirements, for purchase/ construction of hospital/ to set up clinic, clinic cum residence, nursing home (Allopathi, homeopathy, ayurvedic etc.), Machinery/ Equipment etc.

Second hand machinery not be considered for financing purposes.

Loan facility available

Fund Based: Working capital/ Term Loan

Non-Fund Based: LC

Admissible Loan Amount

Minimum Loan Amount: Rs. 1 Lakh

Maximum Loan Amount: No Ceiling

For fresh passed out students: Maximum exposure is Rs. 2 crores

Security

Primary Security: Hypothecation of assets created out of loan amount

Loans up to Rs. 10 Lakhs Collateral Security as below:

• To be covered under CGTMSE. No collateral security/ third party guarantee is to be obtained
• If primary security is held in the form of immovable property with 100% coverage, CGTMSE cover need not be insisted.
• If primary security is held in the form of immovable property with less than 100% coverage, CGTMSE with hybrid security to be obtained

Loans above Rs. 10 Lakhs but up to Rs. 2 crores:

• If primary security plus collateral security is held in the form of immovable properties with 100% coverage, CGTMSE cover need not be insisted.
• If primary security plus collateral security is held in the form of immovable properties with less than 100% coverage, CGTMSE with hybrid security to be obtained

For medium enterprises, security coverage should be at a minimum of 100% in the form of immovable properties (Primary + Collateral Security)

Terms of Repayment

Maximum 120 months including moratorium of up to 12 months or stabilization of cash flows from the project whichever is earlier

Features

Particulars

Who is eligible?

Registered Medical Doctors (Holding degree of MBBS or above) with following eligibility criteria:

• Minimum 2 years of experience in the medical profession
• Existing customers with satisfactory track record
• Age of the promoter/ borrower shall be from 25 to 60 years
• Individuals/ proprietorship/ partnership concerns/ Private limited companies (excluding NBFCs)/ LLPs
• The applicant should hold valid certificate/ license for carrying out the profession & registered with professional medical body
• The loan applicant should be an assessee under Income Tax and shall have a minimum Net Annual Income of Rs. 2 Lakhs as per the latest available ITR

Loan Purpose

For purchase/ construction of office premises/ acquisition of machineries/ equipments/ furniture & fixtures, including expansion and modernization of the existing office premises, and need based working capital limits (secured OD)

Type of Loan facility

Term Loan and/or Working capital (fund based/ non-fund based)

Loan Amount

Minimum: Above Rs. 10 Lakhs

Maximum: Metro Centres: Rs. 500 Lakhs; Urban Centres: Rs. 200 Lakhs; Other Centres: Rs. 50 Lakhs

Security

Primary Security: Assets created out of bank finance (movable and immovable)

Collateral Security: Total securities for reckoning security comfort under the scheme shall be 75% or more of the proposed exposure in the form of primary and collateral put together (in the form of Land/ Land & building and/or approved securities), by way of the following:

• Minimum collateral requirements: 25% of the proposed exposure under the scheme in the form of residential/ commercial Land & Building only.
• Security comfort may comprise of vacant land also to the extent of 25% of the stipulated security comfort (in terms of value), provided it has clear demarcation and boundaries with approach roads and is allotted by any government/ statutory body
• Land & building accepted as securities under the scheme should be backed by an approved building plan from authorized government agencies
• Assignable policies, units of UTI and other mutual funds approved by the bank, bonds issued by Government, National Saving Certificates, Government promissory notes, specified Post office term deposits, 10 years postal savings certificates, relief bonds, kisan vikas patra, specified flexi bonds, bonds issued by Konkan Railway Corporation Limited, term deposits with Canara Bank

Terms of Repayment

Working Capital: Tenable for one year

Term Loan: Up to a maximum of 10 years