AROGYA PLUS- Bank’s Scheme for Financing Doctors/ Medical Practitioners

Objective

To meet the financial requirements of professionally qualified Doctors/Medical Practitioners.

Purpose

• For setting up/ acquiring/ construction of new Hospital/ Nursing Home/ Clinic/Pathological Laboratory, Diagnostic Centre, Physiotherapy Centre, etc.
• For purchase of already built premises for Hospital/ Nursing Home/ Clinic, etc. OR purchase of site & construction of Hospital/ Nursing Home/ Clinic, etc.thereon within one year from the date of purchase.
• For purchase of Furniture & Fixture/Expansion/ Renovation/Modernization of the existing Hospital/ Nursing Home / Clinic/ Pathological Laboratory, Diagnostic Centre, Physiotherapy Centre, etc
• For purchase of medical equipments,surgical instruments, diagnostic tools includingX-Ray, CT Scan, etc. and office equipmentsincluding OT equipments, computers, UPS, air conditioners, etc.
• For purchase of vehicles, ambulances/lifesaver ambulances, etc. required for the profession.
• Working capital requirement for meeting recurring expenses/stock of medicines/ consumables etc.

Eligibility

• Individuals/ Proprietorship concerns/ Partnership firms/Companies engaged in providing medical/pathological/ diagnostic & other healthcare services where minimum 60% of the shareholding/stake is held by qualified doctors.
• Qualified Doctors & Registered practitioners should have minimum qualification of MBBS, BHMS, BDS, BAMS, BUMS, BPT, BoT from a recognized institution.
• The practicingdoctor(s)/practitioners should be in the age group of 25 to 60 years with a minimum experience of two years. In case of joint borrowers, themaximum age of applicant shall not exceed 70 years, unless the co-applicant has perpetual income to service the loan.

Nature of facility

Term Loan/Working Capital

Quantum of loan

• For Hospital Premises/ Equipment Loan: Need based
• For Vehicle Loan: For purchase of ambulance, van & other vehicles as per the requirement of the Project
• For Working Capital: To be assessed as per the Project Report.

The maximum quantum of loan should not exceed Rs.5.00Crore.

Margin

• Minimum 25% of the Unit Cost/ ProjectCost / Stocks& Book-debts.

Repayment Period

For Hospital Premises/ Equipment/ Vehicle Loan:

• In case of construction/ acquisition/ expansion/renovation of the Hospital/Nursing Home, etc. maximum repayment period shall be upto 15 years including maximum initial moratorium ranging between 3 to 6 months.
• In case of purchase of Equipments/ Vehicles, maximum repayment period shall be 84 months including initial moratorium period upto 3 months only.

For Working Capital: 12 months subject to renewal after review. The renewal proposal, complete in all respects, should be submitted to the sanctioning authority not later than nine months from the date of advance.

Security

Primary:

For Hospital Premises/ Equipment/ Vehicle Loan:

• Hypothecation of Plant & Machinery/ Furniture & Fixture/ Equipments/ Vehicles, Stocks-in-Trade, Book-debts, etc. and other moveable & immovable assets created out of Bank finance.
• Mortgage of the Land & Building/ Premises of Hospital/ Nursing Home, etc. to be constructed/purchased/renovated along-with the land underneath and appurtenants thereto it(as the case may be).

Collateral:

For Loans upto Rs.20.00 lakh

• Personal guarantee of Promoter/ Director(s) in case of Companies
• ii. Third Party Guarantee of two persons of sound means, good for the loan amount & acceptable under Bank norms
• Mortgage of the Land & Building/ Premises of Hospital/Nursing Home, etc. having sale value equivalent to more than 50% of the loan amount/ total exposure.

OR

• Collateral security by way of tangible securities such as Bank’s own deposits, NSCs/KVPs, LIC policies valuing equivalent to 100% of the loan amount/ total exposure.

For Loans above Rs.20.00 lakh

• Personal guarantee of Promoter/ Director(s) in case of Companies
• Third Party Guarantee of two persons of sound means, good for the loan amount & acceptable under Bank norms.
• Mortgage of Land & Building/ Premises of Hospital/ Nursing Home, etc. having sale value equivalent to more than 100% of the loan amount/ total exposure..

(As per the RBI guidelines, no collateral security should be obtained for loans up to Rs.10.00 lakh under MSE Sector.)

Processing Charges

0.50% of the loan amount.