This loan product from Central Bank of India is to provide finance medical practitioners. This will help with setting up of healthcare services in order to establish nursing homes, clinics, pathology laboratories etc.
Central Bank of India’s Cent Doctor Scheme Loan is meant for procuring of new equipment, setting up of laboratories, even nursing homes. The applicant can also purchase vehicles like ambulances, computers, use it for working capital, and also stock up medicines and other related disposables.
The Cent Doctor Scheme is meant for doctors with a registered medical practitioner license, they also need to meet the below criteria
The minimum amount of loan that can be taken as per this product, is Rs 1, 00 000 and a maximum of Rs, 5, 00, 00, 000. In semi urban and rural areas the loans available will be Rs. 50, 00, 000, from which rs 5, 00, 000 can be considered as working capital. In urban areas where the loans can be up to Rs. 500, 00, 000 a working capital of Rs. 10, 00, 000 can be considered.
The rate of interest will be including the base rate of 9.70%
|Particulars of amount||Interest Rate|
|Loan to purchase of equipment’s, Working Capital||9.70% + 2.25% = 11.95%|
|Loan for construction loan of Nursing Home / Clinic/ Clinic-cum-residence.||9.70% + 2.50% = 12.20%|
The Cent Doctor Scheme will have a repayment period of 84 months including moratorium period of 6 months for the purchases of equipment and other related items,
A maximum of 10 years will give to repay the loan including moratorium period of 12 months for any construction of nursing homes, clinics etc.
You could download the forms from the website to apply for the application, and along with supporting documents can apply at the nearest Central Bank of India branch.
The application form can be procured online, however you will need to visit the branch along with the duly filled form and supporting documents.
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