IB - Doctor Plus Loan Scheme

Indian Bank - Doctor Plus

Target segment :

* Individuals/Partnership/Ltd.Co./Trust.
* Promoters should have minimum MBBS/BAMS/BDS/BHMS & registered practitioners.
* Key promoters should be qualified doctors.

Purpose:

To finance qualified medical practitioners for

* Buying equipment
* Setting up clinic or clinic-cum-residence or nursing homes
* Setting up Xray lab, pathological clinics, polyclinics
* Setting up Drug/Medical Stores
* Purchase of vehicles, ambulance, computers
* Expansion/renovation/Modernisation of existing premises
* Any other activities related to medical profession
Note:The above activities can be taken individually or as a combination also.

Loan amount

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


Margin

Loan slab Urban & Metro Semi-urban & Rural
Upto Rs. 5 lakhs 10% 15%
Over Rs. 5 lakhs 20% 15%

Repayment Period

* Maximum period up to 10 years.
* Maximum moratorium 3 months.

Security :

Loan upto Rs. 1.00 Lakh: No security except to the extent of Assets created out of loan amount.

Loans above Rs. 1.00 Lakh: Hypothecation of assets + LIC Policy in the name of the borrower to be taken and assigned in Bank’s favour to the extent of shortfall of security coverage or Collateral Security.

Insurance

* Insurance of assets purchased out of Bank Loan and in respect of vehicles,comprehensive insurance as laid down

Processing charges:

* Upto Rs.10,00,000: Nil for the first time borrowers
* Above Rs.10,00,000 : Rs.250/- per lakh or part thereof

Rate of Interest (Applicable with montly rest) Working Capital/ Term loan

Working Capital Term Loan
9.50 % 9.50 %
Penal interest : 2% on delayed payment of instalments.

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