Doctor Delite

Purpose:

1. For setting up clinic/ hospital (Fully constructed property with O.C. and copy of application for permission to run Hospital/Clinic hospital to be obtained within one year failing which penalty @1% will be applicable)
2. For purchase of equipments / furniture at the clinic or hospital
3. Renovation of clinic /hospital

Eligibility:

1. Any qualified medical practitioner ( (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. Loan amount: Rs. 300 lakh

Basis of Advance: 

1) On the basis of Security

1. 90% of cost of premises
2. 80% of cost of equipment
3. 70% of cost of furniture/cost of renovation

Existing Practitioners:

1. 6 times of avg 3 years Gross cash accruals or latest audited gross cash accrual with justification.
2. In case of expansion, 5 times of projected average gross cash accruals.
3. For the loan applications above Rs. 250 lakhs, assessment to be done on DSCR basis.

New Practitioners :

1. For premises/ furniture/Cost of renovation - 4 times of avg of 5 years projected Gross cash accruals.
2. For purchase of equipment - 5 times of avg of 5 years projected Gross cash accruals.
3. Loans above Rs 100 lakh, assessment to be done based on project feasibility.

Repayment Period (including moratorium period):

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

1. Premises plus equipment’s/renovation/furniture upto 120 months.
   Moratorium period upto 1 year may be granted on merit of case.

Rate of Interest: w.e.f - 20.06.2025

1. ROI starting from 8.50%* to 10.75% p.a.*

Combo offer:

1. Pre-sanction Credit Card based on repayment capacity of Borrower subject to max limit of Rs. 5.00 Lacs

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 - Rs 50,000/-

Legal Fees:

Shareholding:

1. Upto 1 Cr - Rs. 1000/-
2. Above 1 Cr -  Rs.25000/-

Documents Required:

1. Prescribed loan application form
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
6. Copy of application for permission to run Hospital/Clinic