State Bank of Mysore

Trusted Service

Mybank Doctor

The modern generation is highly health concious. The demand for good clinics /nursing homes is increasing day by day. In this background, a loan scheme is formulated for qualified/registered medical Practitioners / Homeopathic / Ayurvedic doctors/Dentists to enable them to set up clinic / nursing home with better facilities/sophisticated equipments, with an objective of providing improved health care to the public.

The salient features of the schme is as under:
PURPOSE:
a) For setting up Nursing Homes/Clinics/Purchase of one vehicle.
b) For purchase of furniture, fixtures, equipment, instruments etc.,ambulance van, x-ray lab, polyclinics, pathological labs and other activities connected with medical profession.
c) Loan can be extended to meet the working capital requirements of the clinic/nursing home.
d) In semi urban and rural area, loan can be extended for construction of building for the purpose of setting up a clinic.
e) In other centres the medical practioner is generally expected to take the premises on rental basis.

AMOUNT OF LOAN:
i) In semi urban and rural area: Maximum loan is Rs.15 lacs out of which working capital not to exceed Rs.3 lacs.
ii) In Urban and Metropolitan centre: maximum loan is Rs. 15 lacs out of which working capital not to exceed Rs.2 lacs.

MARGIN:

Category Limit Slab in Rs.
Margin concession
Upto Rs. 25000/-
NIL
Over Rs. 25000/- upto Rs. 2.00 lacs
10%
Over Rs. 2.00 lacs upto Rs. 15.00 lacs
20%

RATE OF INTEREST: As per prevailing rates.

REPAYMENT PERIOD:
The repayment period is fixed taking in to account the income generated for the proposed activity. Normally, the repayment period is 5 to 7 years with a start-up period of 6 months.

SECURITY:
a) Primary:
Hypothecation of all assets acquired out of Bank Finance like Equipments/Machines, Vehicles etc., & mortgage of the building financed.

b) Collateral:
i) No collateral security upto Rs.10.00 lacs.

ii) For loans above Rs.10.00 lacs, personal guarantee of a person whose worth will be sufficient to cover our advance and collateral security in the form of immovable properties, Bank's deposit, NSC, LIC policies or such security of adequate value to cover our advance. However, when the advance is covered by primary security of immovable properties, no collateral security will be asked.

INSURANCE:
Upto Rs.25,000 insurance is waived. For loans above Rs.25000/- comprehensive insurance against normal risks to be covered.

INSPECTION:
Quarterly

PROCESSING CHARGES:
No Processing Charges (waived)


Contact your nearest Branch of State Bank of Mysore or
Chief Manager
State Bank of Mysore
Small and Medium Enterprises Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901extn.377
Fax: 91 80 22353458
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 
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State Bank of Mysore,
H .O.: K.G.Road,
Bangalore - 560254, INDIA.
Phone (EPABX): 91 80 22353901 (30 lines of PRI)
Fax: 91 80 22283684

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