Corp Meditech - to purchase Medical Equipment
1. Eligibility
Any Registered Medical Practitioner in the age group of 23 to 65 years either singly or jointly with spouse/other close relatives, with a minimum experience of one year for doctor/s.
Two or more registered medical practitioners jointly with spouse/close relatives, or a firm where at least 50% partners are doctors OR a company owned by at least 50% by doctors.
Professionals managing Medical Diagnostic Centers & Testing Labs
Hospitals which are being run/managed by Companies/Trusts/Institutions, where the ownership is at least up to 50% with doctors.
2. Purpose
To finance brand new Electro Medical & other sophisticated equipments including OT equipments, Air conditioners, ambulance, Generators, Refrigerators, Personal Computers and accessories with related software and UPS etc.
In the case of setting up of clinics, purchase of furnitures & fixtures, furnishing, Air conditioning, Electrification may also be financed.
3. Loan amount
Up to Rs.2.50 crore. [ Loans above Rs.25 lakhs are assessed based on on DSCR]
4. Margin
Margin to be maintained at 15% of the cost of equipments/assets to be financed.
5. Rate of Interest
12.00% p.a. with effect from 04.05.2009
6. Security
Loans upto to Rs.10 lakh are to be secured by hypothecation of machinery/equipments/assets, financed by the bank & a suitable third party guarantee.
Loans for above Rs.10 lakh are to be invariably secured by collateral security of immovable property OR other approved securities like Bank deposit/NSC/LIC policy, etc. valued at least 50% of the loan amount in addition to the hypothecatiOn of assets financed.
7. Guarantee
Not Mandatory. However, based on their risk perception, Sanctioning Authorities may, on case to case basis, stipulate suitable third party guarantee.
8. Repayment
Maximum 60 months in EMIs [including initial moratorium of upto 3 months]. Upto 84 months considered depending on useful life of asset.
9. Service Charges
0.50% of the loan amount sanctioned subject to a minimum of Rs.1000/-
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