Dhanam MediClinic Finance Scheme

Eligibility

v	Assistance under this scheme would be available to Qualified Doctors in any systems of medicine.

v	The facility will be available for setting up their professional Medical practice/ consultancy ventures.

Project Cost

v	The cost of project should be need based and not to exceed Rs.20 lacs. It may include cost of land, building, furniture and fixtures and equipment related to the profession.

v	The cost of land and building should not exceed 50% of the total project cost.

Promoter's Contribution

Not less than 25% of the project.


Loan Amount

v	A Term Loan of Rs.15 lacs or 75% of the project cost whichever is less.

v	The party is also eligible for working capital requirement.

Rate of Interest

v

BPLR

Period of Loan

Maximum of 5 years with an initial holiday not exceeding 1 year. i.e. (60+12) months.


Security

v

Primary

First charge on fixed assets and other assets acquired out of term finance availed from Bank.

v	Collateral

100% if collaterally secured by property
OR
25% if security is accepted by way of our Bank Deposit, NSC, LIP with surrender value and eligible for assignment, KVP and Govt.Bonds.


Other Conditions

The applicant should devote his/her direct and full attention towards his/her proposed professional/ self- employment venture. The premises acquired under the scheme should be used exclusively for professional purposes and not resident- cum-office.