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Eligibility and Terms

Individual, Joint, Proprietary Concern, Partnership firms, Limited Liability Partnership firms, Limited Company and Trust

Pharma :

The applicant should be a member of “Members of Chemists and Druggists Association”

Healthcare :

Individual / Proprietor – Qualified Registered Medical Practitioner (Professionals such as Doctors, physiotherapists, MD / DM / MS / MCH / MBBS / MDS / BDS Including Radiologists and Pathologists)

Others :

Either one of the partners/directors/trustees should be a qualified Registered Medical Practitioner or they should engage the services of a Registered Medical Practitioner in the hospital

Margin :

• Working Capital – Stock 25%, Book debts 30%.
• Term Loan –
  • For purchase of new/second hand imported reconditioned equipments, racks, new Vehicles etc – 25%.
  • For purchase of indigenous second-hand equipments – 50%.
  • For Second hand vehicles – 50%
  • For building construction – 25% For other interior works – 40%
  • For purchase of old building – 50%.

Repayment:

• Cash Credit / Overdraft – One year, subject to renewal every year well before the due date.
• Overdraft (Reducing balance method) – For fresh loans not exceeding 84 months, subject to review every year.
• Demand / Term Loan (Business / capex purpose) – subject to review every year.
• Demand Loan – upto 35 months (EMI / MI)
• Term Loan – upto 84 months (EMI / MI) (Excluding Installment Holiday period)

Security:

Primary:

• Working Capital: Stocks and receivables
• Term Loan / Demand Loan – Assets acquired & created out of the loan.

Collateral:

• Collateral security not required for loan upto ₹10.00 Lakh for the Micro and Small Enterprises, which is covered under CGS of CGTMSE.
• Non agriculture Self-owned Land / House Plot / Building properties valued not less than 100% of the limit sanctioned.
• In case of TL sanctioned for construction purpose the total value of primary security after construction should not be less than 133% of the loan.

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Interest and Fees

Click here to know the Rates of Interest for loans

Fees & Charges :-

• Term Loans/ WCDL/ OD Reducing balance/: 1.00% of the loan amount + GST.
• Cash credit / Overdraft (running account): 0.50% of the OD Limit + GST.
• For renewals: 0.25% of the Limit + GST.