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ALLAHABAD BANK SCHEME FOR FINANCING DOCTORS / MEDICAL PRACTITIONERS FOR CLINICS/NURSING HOMES

Eligibility All Doctors/Medical Practitioners (Individuals, Partnership Firms, Limited Companies, Trusts.
Purpose To construct Hospital Building, Hospital cum residence, for setting up nursing home, poly clinics, pathological labs etc.
Loan Amount
  1. At Rural Branches                    Up to Rs 100 lac
  2. At Semi Urban Branches          Up to Rs 200 lac
  3. At Urban/Metro Branches        Up to Rs 500 lac
Term Loan / Working Capital (Working Capital Loan is restricted to 20% of the total loan amount)
Margin
  1. 35% in case of construction.
  2. 25% on stocks.
  3. 30% on receivables.
  4. 20% on BG/LC
Security Primary Working Capital : Hypothecation of Stocks, Book debts and other current assets.
Term Loan : Equitable mortgage of land and building, if loan is sanctioned towards construction.
Hypothecation over the assets created out of Bank finance.
Security Collateral Up to Rs 10.00 lacs personal guarantee acceptable to Bank.
Above Rs 10.00 lacs suitable collateral security or CGTMSE cover.
*Rate of Interest Rate of interest depends on the profile of the proposed Borrower and varies between Base Rate to BR+5.00% p.a. with monthly rests as per risk rating of account.(For details, click on “Rate of Interest” link at Home Page)
Repayment Period Working Capital: On demand subject to review every year.
Term Loan: Max 84 months including 18 months moratorium (Max).
Delivery Channels All Branches
   
*Subject to change  
retiree