Loans to finance medical practitioners and paramedics

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.

Guarantors :

Minimum 2 persons acceptable to the Bank.

Margin :

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.