Indian Bank Aayushmaan Scheme

IB - Aayushmaan Scheme

Target Groups

Premium : Premium category Gyms/fitness centre in the organised sector are financed towards the expansion of network/renovation of existing centres & for new equipments

Eligibility : Minimum of 2 years experience with qualified staff & instructors in Premium

Loan Amount : Min - Rs. 1.00 crore
Max - Rs. 5.00 crore

(Finance to Land & Bldg not to exceed 50% of the project cost)

Interest Term loan : - 13.50 %
Working Capital - 11.50 %

Repayment : 36 to 60 months

Economy :Gyms/fitness centre in an unorganised sector run by Individuals/partners

Eligibility :
Promoter/borrower to have experience in the field. Trained instructors & approval for operating Gym/fitness centre should be available

Loan Amount : Min - Rs. 1.50 lakhs
Max -Rs. 25 lakhs

Interest : Term loan - 12.50 %
Working Capital - 11.50%

Repayment : 36 months

Home : Individuals who prefer to have their own gym in their house.

Eligibility : Individuals with regular income, Business people & Professionals

Loan Amount : Min - Rs. 6000
Max -Rs. 2.00 lakhs

Interest : Term loan - 13.50 %

Repayment : 36 to 60 months

Purpose :

For construction of Gym/fitness centre, renovation of existing ones, purchase or replacment of fitness equipment, purchase of land & building for setting up of a new fitness centre/home gym and Working Capital requirments such as salaries, maintenance expenses, electricity bills etc.,

Margin

* Land & Building - 50 %
* Equipment etc - 10 %
* Working Capital - 25%
(For home category borrower the margin will be 15% of the cost of equipment)

Security :

* Charge by way of hypothecation of financed assets
* Collateral security - EM of land & building to be purchased
* Personal Guarantee of Promoters
* Third Party Guarantee for HOME CATEGORY borrowers

Documents :

* Audited Balance Sheet for 2 years
* IT returns for 3 years
* Estimate approved by Panel Engineer for renovation of the existing premises
* Quotation from the reputed dealer for purchase of equipments/vehicles
* Panel Engineer Valuation & Panel Lawyer opinion on Title deeds
* Salary certificate/IT returns.

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