|
Sr No |
PARAMETER |
MODIFIED SCHEME |
|
1 |
Target Group |
Medical practitioners of any discipline, promoters of hospitals and nursing homes, pathological clinics, polyclinics, X-Ray labs, etc. |
|
2 |
Eligibility |
* Individuals /Partnership /
Corporates / Trusts (with power of borrow)
* Promoters should be registered practitioners and should possess minimum qualification to practice in a discipline such as MBBS/ BAMS/GAMS/BDS/BHMS |
|
3 |
Purpose |
To finance qualified medical practitioners
For buying equipments (For dentists, the loan also covers dental implants besides equipments; For orthopedists the loan also covers various replacements/implants for hip/knee/shoulder/spine etc.)
Setting up clinic, nursing home pathology labs, drug store, ambulance, computers, vehicles, etc.
Expansion/renovation/ modernisation of existing premises. |
|
4 |
Type of facility |
- Medium Term Loan
- Cash Credit
|
|
5 |
Loan amount |
Maximum of Rs 5 crore of which a sub ceiling for WC limits at
- 10% of total loan amount for upto Rs. 1 crore
|
- 5% of total amount for above Rs.1 crore- Minimum Rs.10 lacs
|
In terms of revised guidelines for priority sector advance, the advances to Small (service) Enterprise and Micro (Service) Enterprise will qualify for Priority sector Advance irrespective of the limits. |
|
6 |
Repayment |
Minimum DSCR 1:1.5
Maximum period upto 7 years
Maximum moratorium 12 months. |
|
7 |
Rate of interest |
Based on credit scoring model.
Score: 65 & above:- 2.50% below BPLR with a minimum of 10.75%
Score:55-64: - 2.00% below BPLR with a minimum of 11.25%
Score: 45-54: - 1.50% below BPLR with a minimum of 11.75%
Score:35-44:- 1.00% below BPLR with a minimum of 12.25%
Score: below 35: - No Finance
Finer rates may be offered in terms of Pricing Policy. |
|
8 |
Security
Primary:-
Collateral:- |
Hypothecation of Assets financed by the Bank
No need for tangible collateral security for loan amounts upto Rs. 15 Lakhs for Allopathic professionals and upto Rs.10 lakhs for other professionals (Homeopathic,Ayurvedic, Unani etc.). Instead, Personal Guarantee/Third party guarantees with total net worth of guarantors at least twice the loan amount to be taken.
Above Rs 10/15 lakhs: Tangible collateral security of at least 25% and Personal guarantees of promoters. Collateral can be further reduced upon discretion of Zonal authorities, but only for existing customers with excellent track record. |
|
9 |
Insurance |
Insurance of assets purchased out of Bank loan and in respect of vehicles, comprehensive insurance as laid down. |
|
10 |
Inspection |
Half yearly inspection/ monitoring to ensure end-use of funds.
|
|
11 |
Margin |
Upto Rs.5 lacs: 10%
Above Rs.5 lacs: 15%. Margin in this category can be reduced further by
5% on discretion of one authority higher than the sanctioning authority. |
|
12 |
Processing Charges |
0.5% of Loan Amount
Minimum Rs. 500/-
Maximum Rs. 50,000/- |
|
13 |
Scoring Model |
For limits up to Rs. 25 lakhs: Minimum score of 50% on credit scoring model to be eligible for the loan.
For limits above Rs.25 lakhs and up to Rs. 5 crores: Assessment will be based on CRA rating. Minimum CRA rating of SBS-4 to be eligible for the loan. |
|
14 |
Disbursement |
Branch can make multiple disbursements over a period of 24 months from date of sanction based on requirements. But schedule of disbursement and purpose has to be specified at time of sanctioning of loan. |
|
15 |
Documentation |
As per SIB and C&I Segment, as the case may be |
|
16 |
Pre-Payment charges |
As per General Policy. 2 % on pre paid amount. Only in case of switch over of the account to other bank. |
|
17 |
Application |
As per simplified form
|
|
18 |
Delegation of financial powers |
The loan will be sanctioned by the authority as per the extant delegation financial powers for sanction of loans and control report submitted as per instructions in force to the next higher authority. |
|
19 |
Scoring Sheet |
Revised scoring sheet with 15 parameters and total marks at 70.
|
