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For those who ease suffering, save lives and bring new life to the world, Doctor Delite is loan service honoring all doctors. For setting up a clinic, purchasing equipments or for the renovation of the clinic or hospital, this Saraswat Bank offers loan upto Rs. 500 Lakh (Fully constructed property with O.C. and copy of application for permission to run Hospital/Clinic to be obtained within one year failing which penalty @1% will be applicable). 

Eligibility:

  1. Any qualified Doctor (existing / new practitioner)
  • Income of spouse can be considered for eligibility, even if spouse is not doctor. In such cases, the rate of interest of 0.25% higher than the card rate will be charged.

Loan Amount:

  1. Maximum up to Rs. 300 lakh – for a new medical practitioner.
  2. Maximum up to Rs. 500 lakh- for existing practitioner with minimum 3 years of practice.

Basis of Advance:

Existing Practitioners:

  1. 5 times of avg 3 years Gross cash accruals or latest audited gross cash accrual with justification.
  2. In case of expansion, 4 times of projected average gross cash accruals.
  3. For the loan applications above Rs. 250 lakh, assessment to be done on DSCR basis.





New Practitioners :

  1. 3 times of avg of 5 years projected Gross cash accruals
  2. Loans above Rs 100 lakh, assessment to be done on the basis of project feasibility.

Repayment Period:

  1. For Premises: upto 120 months
  2. Only for Equipments / Renovation / Furniture upto 84 months.



Prepayment Charges - 
2%

Rate of Interest: w.e.f - 01.07.2022

Purpose

Floating

Land & Building

(PLR-5.00) : 9.50%

Equip/Renovation/furniture

(PLR-4.75) : 9.75%

Present PLR  @14.75% p.a. (w.e.f -15.06.2022)

Combo offer:

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

Security:

  1. Purchase of new premises/ Construction of clinic or hospital on owned plot /Renovation of clinic – Equitable Mortgage of the premises/ clinic respectively.
  2. Purchase of equipment/ furniture: Hypothecation of equipment/ furniture to be purchased & collateral to be taken as stated below:
  3. For Existing doctors: No collateral for loan amount upto Rs.50 lakh
  4. For New Doctor: No collateral for loan amount upto Rs.25 lakh                
  5. For amounts greater than that stipulated above, 25% collateral to be obtained.

Processing Fees:

  1. Upto Rs 100 Lakh - 0.50% of Loan amount maximum Rs 15,000/-
  2. Above Rs 100 lakh to Rs. 200 Lakh - Rs 50,000/-
  3. Above Rs 200 lakh - Rs 100,000/-
  4. Review Charges (Above Re 1 crore) - 0.10%, Max Rs 50,000/-

Shareholding:

  1. As per extant shareholding norms

Documents Required:

  1. Duly filled prescribed application form with KYC proof.
  2. Latest Photograph, Photo Identity Proof and Residence Proof of the Applicant
  3. ITR for last 3 years (fresh medical practitioner’s IT returns may not be insisted) & Bank statement for last 3 months
  4. Legal documents required for creating mortgage /Quotation of equipment to be purchased/ renovation/ furniture cost.
  5. License to practice and other documents required for mortgage

Conditions Apply*