| SN |
PARAMETERS |
PARTICULARS |
| 1. |
Purpose/Objective |
| To meet the financial requirements for setting up of new/ expansion/ renovation/ modernization of Nursing Home/ Clinic / Hospital / Veterinary Hospital/ Infrastructure for Medical Tourism including Pathological Laboratory, Diagnostic centres etc. |
| To purchase medical equipments (including Vehicles, ambulances and Implants) and office equipments, viz. computers, air conditioners, office furniture, etc. |
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| 2. |
Eligibility |
| Individuals (including Proprietorship firms) should have requisite qualification in any branch of medical science from a recognized University and having minimum qualification asMBBS/ BDS(Dentist)/ BHMS/ BAMS/ Veterinary/ BPT/BUMS. |
| Further, Post Graduate or diploma qualification is mandatory for financing of specialized equipment like CT SCAN, MRI SCAN and PET Scan etc |
| All entities, i.e. MSMEs, Enterprises, Association of persons,Partnership firms, LLPs, Private Limited Companies, Trusts,and Societies engaged in providing medical including veterinary / diagnostic services / to the Society having valid license. |
| Further, the units must have the required approvals and/ or registrations from the statutory authority and have employed qualified doctors. |
| Further, the units must have the required approvals and/ or registrations from the statutory authority and have employed qualified doctors. |
| In case of individuals, minimum experience required is 2years and if experience is less than 2 years then maximum Overdraft limit upto Rs.1.00 Crore shall only be sanctioned. |
| In case of other than individuals, minimum stake of qualified doctors should be 75% and in case of Trust it should be minimum of 50%. Further, next sanctioning authority can relax this condition. |
| All the statutory clearances / approvals shall be obtained induecourse. |
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| 3. |
Area ofoperation |
All Branches of the Bank |
| 4. |
Typeoffacility |
| Term Loan:Need Based |
| Overdraft:Maximum Rs. 2.00Crore |
| NonFundBased (LC/BG):Need Based |
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| 5. |
Margin |
| 25% for acquisition of premises and/or expansion/ renovation/ modernization of existing premises |
| 15% for purchase of equipment/ machinery/ cost of on roadvehicles/ Ambulance/Other Vehicle |
| In case of purchase of land margin should be minimum of 50% of the cost of land(including cost of registration).However, loan amount for the purchase of the land shall not be more than 50%of the total term loan amount sanctioned. |
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| 6. |
Repayment |
| 1. Term Loan: Maximum Repayment period of 7 to 10 years including repayment holiday/moratorium period as per Credit policy, repayable in monthly/quarterly instalment based on cash flow. Depending on the business model, anticipated cash flows, the repayment period/moratorium shall be fixed in consultation with the borrower. |
| 2. Working Capital Limit: Loan up to Rs.25 Lakh: a) Renewal once in two years. b) Yearly review shall be done by the branch through obtaining unaudited/audited financial statements if applicable and collect applicable processing charges at the time of each annual review, as per extant guidelines. c) Interest to be serviced monthly. Loan Above 25 Lakh: Renewal once in a year. |
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| 7. |
PrimarySecurity |
| Hypothecation of entire equipment, Current & Non-currentassets of the unit. |
| Mortgage of Project Land with existing / future construction there on. |
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| 8. |
CollateralSecurity |
One Year. However,limit shall be renewed every year. |
| 9. |
PrimarySecurity |
| Minimum25% collateral security shallbe obtained in the formof immovable property / liquid security |
| No collateral is required if realizable value of the primary security in the shape of Land & Building mortgaged is more than110% of the total exposure. |
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| 10. |
RateofInterest |
As per Bank’s guidelines. |
| 11. |
Processingfee/ Documentationfee/Inspectionfee etc |
As per extant guideline of theBank. |