- Setting up of Business – To make medical entrepreneur
- Term Loan : for purchase of tools and equipment for carrying out production process.
- Passed out Students planning to setup their diagnostic centre in various stream (Medicine, Dental etc.) in India.
- Students must have completed their course in MBBS/BDS/BAMS/BHMS/BUMS from recognized/approved college.
- Registration with government authority is must.
- Minimum Age- 21 Years
- Applicant/s must have minimum CIBIL Transunion Score of 700 (under version 1.0) or 618 (under Version 2.0).
Other Terms & Condition :
- A copy of latest Lease Agreement/ Rent Agreement will be held in file. Intimation regarding our absolute charge on the primary assets to be sent to the land lord / premises owner by registered post. “Asset Hypothecated to Allahabad Bank” will also be displayed in the premises.
- Registration for Medical Practitioner with government authority is mandatory. Self attested copy of the same will be obtained prior to sanction of loan.
- Municipality license, licenses under Shop & Establishment GST and other statutory licenses to be obtained, along with State’s specific own legislation for regulating Clinical Establishments.
Loan Limit :
- Term Loan : Need based finance for setting up of business. Maximum Rs.5.00 Lac
- For loans up to Rs.1.00 Lac- 10%
- For loans above Rs.1.00 Lac & up to Rs.5.00 Lac: 20%
Rate of Interest*:
- MCLR + 1.50 %, 0.50% concession to applicant setting up diagnostic centre/clinic in rural areas.
- Hypothecation of Article being purchased from the loan amount.
- In Maximum 84 equated monthly installments with a moratorium of 6 Months