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  • Corporation Bank Doctor Loan Scheme

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  • 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 Plus Scheme?

    Central Bank of India’s Cent Doctor plus 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 are the types of financing available?

    This loan will be considered a Term Loan

    What is the eligibility criteria for Cent Doctor Plus Scheme?

    The Cent Doctor Plus 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. The applicant between the ages of 25 - 65 years of age
    3. 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.
    4. The applicant should also have a minimum expertise of 12 months to establish a clinic, nursing home or even hospital.
    5. In a partnership at least 50% of that partnership should be registered medical practitioners.
    6. 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 maximum of loan available under this scheme is Rs. 5 crores, the maximum of Rs. 2.5 crore for medical equipment and Physiotherapist will get a maximum of Rs. 50 lakhs

    What is the rate of interest on Cent Doctor Plus Scheme?

    The rate of interest will be including the base rate of 9.70%

    Particulars of amount

    Interest Rate

    Loan up to Rs. 5 crores

    9.70% + 1.90% = 11.55%

    Loan above Rs. 5 crores

    9.70% + 2.65% = 12.30%

    What are the documents required for Cent Doctor Plus Scheme?

    1. The bank will charges a 35% 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, for Loans up to Rs.10 lakhs. For a loan amount of above Rs.10 lakhs, the full loan will need to be secured by collateral security like immovable property or other approved securities like Bank deposits, NSCs LIC policies which should be at least 50% of the loan amount in addition to the hypothecation of assets financed.
    3. The age of the immovable property cannot be above 20 years of age
    4. A 0.50% charges will be levied as a charged as processing charges.
    5. There will be no prepayment charges for this scheme.

    What are the terms for Cent Doctor Plus Scheme?

    The Cent Doctor Plus 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 Plus 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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