V Doctor

V-Doctor - Flexible loan facility for Medical Practitioners

PURPOSE     

       

•    Acquiring premises & expansion /renovation/modernization of existing premises.

•    Purchase of medical equipments/ambulance/car/vehicle.

•     Meeting working capital needs



ELIGIBILTY



•    Qualified Registered Medical Practitioners with minimum experience of 1 year.

•  Firms/Companies where majority of share-holding is by qualified medical practitioners.  

•    Trusts engaged in rendering professional medical services.

          

QUANTUM OF LOAN



•    Term loan -        Rs.500.00 lacs

•    Working Capital – Rs.20.00 lacs



MARGIN



•   25% for purchase of equipment/ machinery/ vehicles etc.

•   35% for acquisition of premises and/or expansion/renovation/modernization of existing premises.

•    25% on stock in case of working capital limit.



RATE OF INTEREST

•    Click Here for Rate of Interest



ASSESSMENT OF FINANCE



•    75% of stock including medicines or 75% of revenue expenditure of previous year as per audited balance sheet.

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



SECURITY



•    Hypothecation of assets acquired out of bank finance & collaterally to be secured by mortgage of property.

•    Mortgage of property in case of construction/acquisition of land & building.

•    No guarantee/collateral for loans up to Rs. 100.00 lacs if covered under CGTMSE



PROCESSING AND OTHER CHARGES



Processing charges:

i) Upto Rs.5.00 lakh –Nil

Ii)Above Rs.5.00 lakh- 0.75%



Inspection charges:

i)    Above Rs.5000/-and upto Rs.25000/--Rs.100+ST per inspection.

ii)    Above Rs.25000/-and upto Rs.2.00 lakhs -Rs200+ ST per inspection

iii)   Above 2.00lakhs and upto Rs.10.00 lakhRs.750+ST per quarter

iv)   Above Rs.10 lakh-Rs.1500+ST per quarter



Documentation charges  :

i)    Rs.2.00 lakhs and below- Nil

ii)    Above Rs.2.00 lakhs -0.15%+ST Minimum of Rs.750+ST and maximum of Rs.30000+ST



REPAYMENT PERIOD

•    Working capital – one year (should be renewed on yearly basis).

•    Term loan – Maximum of 84 months.

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