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Doctor Delite
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Doctor Delite


Title

                                      Norms

Purpose

  • For setting up clinic/ hospital
  • For purchase of equipments / furniture at the clinic /  hospital
  • To conduct renovation of clinic /hospital.

Eligibility

  • Any qualified Doctor (existing /new practitioner)

Limit of Loan

  • Maximum up to Rs. 100 lakh – for new medical practitioner
  • Maximum up to Rs. 300 lakh- for existing practitioner with minimum 3 years of practice.

Basis of Advance

    1)  90% of cost of premises                                                  80% cost of equipment 
        70% of cost of furniture/ cost of renovation
   2)  5 times of Avg Net cash accruals (Existing          practitioners) OR  
        3 times of average projected Net cash accruals (New    practitioners)                  
       (1 or 2 whichever is lower)

Repayment Period

  • For Premises & Equipments upto 120 months
  • Only for Equipments/renovation/furniture upto 84 months   

Rate of Interest

Period

Floating

Upto 84 months

(PLR-3.00): 11.25%

Above 84 upto 120 months

(PLR-2.00): 12.25%

          Present PLR: 14.25% p.a

Combo Offer For applications with Min ticket size of Rs. 50 lac ( premises mortgaged):  Pre-sanction car loan of upto Rs. 10 lac

Processing Fee

  • Upto Rs. 100 lakh : 0.5% of loan amount; maximum 

     Rs.25000/-

  • Above Rs. 100 lakh : Rs. 50,000/-

Shareholding

  • 2.50% of sanctioned loan amount ; maximum Rs.25000/-

Security

  •  Purchase of equipment/ furniture – Hypothecation of 

 equipment/ furniture to be purchased

  •  Purchase of new premises/ Renovation of clinic – Equitable   Mortgage of the premises/  clinic respectively
  • Collateral based on merits of proposal

Documentation

  1. Duly filled prescribed application form
  2. Latest Photograoph, Photo Identity & Residence Proof of the Applicant.
  1. ITR for last 3 years (fresh medical practitioners IT returns may not be insisted) & Bank statement for last 3 months
  • Legal documents required for creating mortgage /Quotation of the equipment to be purchased/ renovation cost or furniture cost.
  • Licence to Practice.
Conditions apply
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Saraswat-Bank
Saraswat-Bank