A regional rural bank, Saurashtra Gramin Bank is a partnership between three banks viz., SBGB, JAGB and JRGB. It currently operates in 11 Gujarati districts viz. Surendranagar, Dev Bhumi Dwarka, Somnath, Morbi, Bhavnagar, Porbandar, Junagadh, Jamnagar, Amreli, Rajkot and Botad. The Doctor Plus scheme offered by the bank offers financial help to doctors in setting up their clinics, purchasing equipment and meeting working capital requirements.
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Purpose of Saurashtra Gramin Bank Doctor Plus
The Doctor Plus scheme from Saurashtra Gramin Bank has been designed to help doctors meet working capital requirements and acquire finance for the purchase of equipment and setting up of clinics.
Eligibility Criteria for Saurashtra Gramin Bank Doctor Plus
- Individuals / trusts / limited companies / partnerships
- Applicants must possess a degree in BHMS / GAMS / MBBS / BDS / BAMS
- Applicants must be registered practitioners
- Key applicant must be a qualified doctor
Features and Benefits of Saurashtra Gramin Bank Doctor Plus
- The maximum amount of money that can availed through this loan is Rs.25 lacs. Under SBF Segment, the maximum amount is Rs.15 lacs for semi-urban and rural centres, and Rs.10 lacs for urban centres. Under C&I Segment, the maximum amount is Rs.25 lacs along with sub ceiling for working capital limit set at Rs.3 lacs.
- The repayment period for this facility is one year in case of overdraft and it ranges from three years to ten years if taken out as a term loan.
- A fee of 75% of the loan limit will be charged as proposal processing fees.
- The interest rate will be determined by the bank and is subject to change from time to time depending upon the bank’s discretion.
- The maximum moratorium period of 12 months is granted for construction reasons and up to six months in other cases.
- The margin on amounts up to Rs.25,000 is zero. For amounts between Rs.25,000 and Rs.5 lacs is 10%, and for amounts exceeding Rs.5 lacs, the margin is 15%.