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)
2. 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.*
2. ROI varies as per CIBIL score
3. Present PLR @15.60% p.a.

Reset of Floating Interest Rate on Equated Monthly Instalment [EMI] based Loan:

1. Option to Switch ROI Type:
   Borrowers shall have the option to switch their loan from Floating Rate of Interest (ROI) to Fixed ROI and vice versa, subject to a maximum of two (2) switches in a financial year during the entire tenure of the loan.

1. Applicable Charges:
   A request charge of 0.50% shall be levied on the outstanding loan balance at the time of the switch, irrespective of whether the switch is from fixed to floating or floating to fixed ROI.

Penal Charges:

1. Penal charges in the range of 1% to 2% p.a. each, subject to maximum of 2% p.a. for non-compliance of terms and conditions of loan contract, till such time the same is complied with.

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