Azadi Ka Amrit Mahotsav
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Azadi Ka Amrit Mahotsav

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PSB Doctors Special

  2. PSB Doctors Special
Eligibility Practitioners registered with statutory bodies like MCI, DCI, CCIM, CCH etc. and having minimum qualification MBBS / BDS / BPT / BAMS or equivalent professional degree.

Age Group:
25 to 65 years.

Experience:
Minimum 3 years experience.
Constitution of Borrower Individual, Joint borrowers, Proprietorship, Partnership, LLP, Company (Pvt / Public Ltd), Hospitals which are being run / managed by Trusts / Institutions and concerns where majority of share holding is by qualified medical practitioners.
Purpose Setting up / acquiring / construction / Expansion / renovation of clinics, Hospitals / Pathological / Clinical Labs, Diagnostic Centers, Physiotherapy centers, Nursing Homes, etc. including furniture fixture, medical equipments and for purchase of vehicles, ambulances / lifesaver ambulances, etc.
Quantum of Finance Minimum: Rs. 5 lakhs
Maximum: Rs. 500 lakhs

Working capital facility is restricted to maximum 5% of the Term Loan facility sanctioned or Rs. 10 lakhs whichever is lower.

The maximum quantum should not exceed Rs. 500 lakhs in case of composite facility i.e. Term Loan & Working Capital.
Assessment of Finance Working Capital Limit:
For running units, WC is fixed based on 75% of Revenue Expenditure of previous year as per audited balance sheet.

For new units, WC is fixed based on 60% projected Revenue Expenditure.

DP is derived on the basis of 75% of stocks / 60% book debts.

Term Loan:
75% of the cost of assets purchased or 65% for purchase / construction / expansion / renovation / modernization of premises.

Minimum Net DSCR (Debt Service Coverage Ratio): 1.25:1

Commercial Vehicle Loan:
In case borrower applies for both Term Loan and Working Capital, working capital component restricted to maximum 10% of the Term Loan facility sanctioned under the scheme or Rs. 20 lakhs whichever is lower.
Working Capital: Rs. 20 Lakhs.
Margin 25% for purchase of equipment / machinery / vehicles etc.
35% for acquisition of premises and/or expansion / renovation / modernization of existing premises.
25% on stocks.
40% on book debts.
Security Primary Security for Term Loan:
Hypothecation of assets to be purchased / acquired with the help of Bank’s finance.

Mortgage of business premises if financed by the Bank.

Primary Security for Working Capital facility:
Hypothecation of stocks / book debts.

Collateral Security:
  • Loan upto Rs. 10 lakhs: No third party guarantee and/or collateral security is required and the same should be covered under CGTMSE.
  • Loan above Rs. 10 lakhs and upto Rs. 200 lakhs: Collateral security by way of immovable property or liquid securities such as deposits, NSCs, surrender value of LIC policies, equivalent to 100% of total exposure or loan to be covered under CGTMSE.
  • Loan above Rs. 200 lakhs and upto Rs. 500 lakhs: Collateral security by way of immovable property or liquid securities equivalent to 100% of total exposure.
However, for loans sanctioned for acquiring premises for opening of Hospitals / Labs / Clinics etc., borrower to submit suitable collateral equivalent to the sanctioned amount for the intervening period till valid mortgage of the property financed is created in Bank’s favour.
Rate of Interest Please click here for Rate of Interest
Processing Fee Please click here for Processing Fee
Guarantee Loan upto Rs. 200 lakhs: No guarantee required, if covered under CGTMSE.

In all other cases, guarantee of spouse / major sons / partners / directors / trustees / suitable third party is required.

Personal guarantee of partners / directors is required in all cases irrespective of coverage under credit guarantee scheme.

If owner of the mortgaged property is other than borrower, the guarantee of property owner is required.

Guarantor should enjoy good reputation in the market / field along with networth of atleast 200% of loan amount.
Repayment For Term Loan:
Loan to be repaid in Equated Monthly Installments (EMIs) in maximum 7 years (inclusive of moratorium period, if any).

Moratorium Period:
(a) Maximum 2 years including construction period in case of new construction of business premises financed by bank.
(b) In all other cases, maximum moratorium of 1 year may be allowed by the Bank based on justification and merits of the case.

For Working Capital facility:
Repayable on demand. Credit facility is subject to annual renewal. Interest to be serviced as and when due.
Prepayment The prepayment facility is allowed without any charges but not within one year of the loan availment. On pre-closure within one year of sanction, prepayment penalty @1% on the sanctioned amount to be charged.
Additional Benefits Locker Rent Concession: 50% concession on locker rent for self and spouse for first two years, who avail loan under this scheme.
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