• Corporation Bank Doctor Loan Scheme

    Corporation Bank offers loans to registered medical practitioners under the scheme called ‘Corp Doctor Plus Scheme.’ The maximum loan that can be availed under the scheme is Rs.5 crore and the interest rate on the loan ranges between 10.40% and 11.15% p.a. The processing fee for the Corp Doctor Plus Scheme starts from Rs.1,000 and there are no penalty charges on prepayment.

    Interest Rate for Corp Doctor Plus Scheme

    Amount Interest Rate
    Up to Rs.5 crore 10.40%
    Over Rs.5 crore 11.15%

    Other Charges Associated with Corp Doctor Plus Scheme

    Particulars Charges
    Processing Fee 0.50% of the loan amount (minimum Rs.1,000)
    Prepayment Charges Nil

    Loan Amount

    The maximum loan amount that can be availed under the Corp Doctor Plus Scheme is Rs.5 crore. For the purchase of medical equipment, the maximum loan amount is Rs.2.5 crore while for the purchase of physiotherapy equipment, the maximum loan amount has been capped at Rs.50 lakh.

    Corp Doctor Plus Scheme – Margin

    The margin for the construction and purchase of hospital or clinic under the Corp Doctor Plus Scheme is 35% while for the purchase of medical equipment and other items, it is 15%.

    Corp Doctor Plus Scheme – Security

    If you avail a loan under the Corp Doctor Plus Scheme of up to Rs.10 lakh, you will need to provide a suitable third-party guarantee, the discretion of which will lie with the bank. The equipment/machinery or assets purchased with the loan amount will also be hypothecated with the bank.

    For loan amounts of over Rs.10 lakh, you will need to invariably secure the loan with immovable property or approved securities such as LIC policy/bank deposit/National Savings Certificate, etc., along with the hypothecation of assets.

    Purpose of the Corp Doctor Plus Scheme 

    • To buy readymade premises for a clinic or hospital.
    • To construct a hospital or clinic on your own site.
    • Buying a site and then constructing a clinic or hospital.
    • To purchase new electro-medical and other equipment which includes OT equipment, ambulance, refrigerators, generators, air conditioners, personal computers, etc.
    • To purchase or install elevator/lift, windmill generator, solar electrification system, solar water heating system, etc.
    • To renovate/repair/extend or improve the hospital or clinic.

    Eligibility Criteria for Corp Doctor Plus Scheme

    • Should be aged between 25 and 60 years with at least one year of experience.
    • Should be a registered medical practitioner or physiotherapist.
    • Partnership firms where at least 50% of the partners are doctors.
    • A company where 50% of the owners are doctors.
    • Hospitals that are managed/run by companies/trusts/institutions.
    • Professionals running testing labs and medical diagnostic centres.

    Repayment Terms for Corp Doctor Plus Scheme

    If the loan amount availed is used in the construction/renovation/extension/repair of the hospital or clinic, you can repay the loan in a maximum of 15 years which will not include the initial repayment holiday period of 24 months. For medical equipment purchase, the loan availed can be repaid in a maximum of 84 months which will exclude up to 6 months of the maximum initial repayment period.

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