• Central Bank of India Doctor Scheme

    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.

    Where is the purpose of Cent Doctor Scheme?

    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.

    What is the eligibility criteria for Cent Doctor Scheme?

    The Cent Doctor Scheme is meant for doctors with a registered medical practitioner license, they also need to meet the below criteria

    1. Individuals, Partnerships, Trusts, and even companies can apply for this loan
    2. All applicants should be registered medical practitioners and hold the qualification in any medical science branch, such as MBBS, BDS, BHMS etc. They can also hold degrees in Physiotherapy, Radiology etc.
    3. The applicant should also have a minimum expertise to establish a clinic, nursing home or even hospital.
    4. In a partnership at least 50% of that partnership should be registered medical practitioners.
    5. In a company at least 50% of the directors should be qualified registered medical practitioners.

    What is the maximum amount of loan I can avail?

    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.

    What is the rate of interest on Cent Doctor Scheme?

    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%

    What are the documents required for Cent Doctor Scheme?

    1. The bank will charges a 25% Margin on this loan on construction of nursing homes or clinics and 15% against equipment
    2. Hypothecation of assets bought through the finance or property if the loan is used for construction.
    3. A personal guarantee will be needed from all partners directors, and trustees will be needed for loans above Rs. 100,00,000
    4. A 1% charges will be levied as a prepayment penalty
    5. 0.5% of the loan to the maximum of Rs. 10, 000 will be charged as processing.

    What are the terms for Cent Doctor Scheme?

    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.

    How do I apply for this loan?

    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.

    Can I apply for Cent Doctor Scheme online?

    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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