i. |
Eligibility |
- |
Any Individual bonafide member of the Bank. |
ii. |
Type of facility |
- |
Term Loan |
iii. |
Maximum Limit |
- |
Rs. 100.00 Lacs |
iv. |
Margin |
- |
25 % or above depending upon merit of each case. |
v. |
Purpose |
- |
For purchase of any medical equipments. |
vi. |
Rate of Interest |
- |
As per bank’s rules from time to time. |
vii. |
Other charges |
- |
As per bank’s rules from time to time. |
viii. |
Repayment |
- |
Upto the maximum of 120 months in suitable monthly instalments. |
ix. |
Primary Security |
- |
Hypothecation of the respective equipments financed by the Bank
|
x. |
Collateral Security |
- |
Equitable mortgage of immovable property or pledge of any other tangible security acceptable to the Bank. |
xi. |
Sureties |
- |
Two sureties as per bank’s rules. |
xii. |
Other conditions |
a) |
Prospective borrower must be a Graduate or Post Graduate in any branch of Medicine or Surgery from a recognized Indian or foreign university and registered with Indian Medical Association. |
|
|
b) |
Atleast 5 years of working experience as Private Medical Practioner or working in any recognised Hospital of Government or Autonomous body. |
|
|
c) |
Must be a Income Tax payer. |
|
|
d) |
Financed equipments shall be adequately and comprehensively insured with Bank’s clause at the cost of borrower. |
|
|
e)
f)
|
Payment direct to the Vendor for full cost of the Equipment as per Performa Invoice, subject to recovery of margin money from the borrower.
Copies of Invoice and Receipt to be obtained and kept on record till the liquidation of Bank’s entire dues. |
|
|
g) |
Comprehensive Insurance with Bank’s Clause. |
