PRAGATHI DOCTOR’S CHOICE ( PDCL)

1 OBJECTIVE
To meet the working capital and term loan requirements of Qualified Medical Practitioners.
2 PURPOSE
  • Purchase of equipment / machinery
  • Setting Up of Clinic, X – ray lab, Nursing Homes etc.
  • Expansion / renovation / modernization of existing Clinics / Nursing Homes managed / owned by qualified competent Doctors with requisite qualification.
  • Purchase of Vehicles, ambulance, computers and other essential equipment.
  • Meet working capital needs.
3 ELIGIBILITY
  • All qualified Registered Medical Practitioners.
4 NATURE OF LOAN
  • Financing may be done by way of Term loan / Overdraft / Composite loan depending upon the nature of requirement.
5 QUANTUM OF LOAN
  • The quantum of loan shall be in accordance with the requirement and eligibility norms depending upon the merits of individual cases.
6 MARGIN
  • As per the guidelines issued from time to time.
  • At present margin is as under
    • Loans upto Rs.25,000/- = Nil
    • Over Rs. 25,000/- = 15% to 25%
7 SECURITY
  • Up to Rs. 5,00,000/-
    • Hypothecation of assets financed by the Bank.
    • Hypothecation of existing assets if any.
    • Suitable co-obligation / third party guarantee acceptable to the Bank
  • Over 5,00,000/-
    • Hypothecation of assets financed by the Bank.
    • Hypothecation of existing assets if any.
    • Suitable co-obligation / third party guarantee acceptable to the Bank
    • Mortgage of landed property(N.A. property)
8 REPAYMENT
  • In case of a term loan or composite loan maximum 5 –7 years, in exceptional cases up to 10 years, in monthly instalments.
  • Operative limit shall be tenable for one year
9 INSURANCE
  • Building / machinery and equipment shall be adequately Insured.