DNSB – COVID 19 Pandemic
Medical Practitioners, Medical Equipment and Drugs Manufacturers, Traders
1 |
Who is eligible for the loan |
This scheme will be applicable only to those entities, medical practitioner, manufacturers, medical equipment dealers, who are contributing in the field of fighting COVID-19. They can be hospitals, doctors who wish to set up or convert hospital dedicated for COVID affected patients treatment, purchasing equipments such as installation of Oxygen plant, ventilators, other similar equipments etc. manufacturers and medical equipment dealers such as Oxygen manufacturing, bottling plants, sanitizers, masks, PPE kits ventilators, pathological equipments, consumables etc. General chemists, pharmacists will not come under this category. |
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2 |
Purpose |
Purchase of: Equipment, Furniture, Business Premises, and Construction of business premises. |
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Renovation of: Business Premises, to build or expand hospital infrastructure |
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3 |
Quantum of Loan |
Maximum up to Rs.1000.00 Lakhs |
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4 |
Margin |
25% In case of Secured Term Loan |
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50% of the valuation in case of Term Loan for Purchase of 2nd hand/ used or refurbished machineries, equipment etc. |
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25% of the valuation in case of Loan or overdraft against mortgage of immovable property |
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30% on Stock & Book Debts In case of Cash Credit (Hypothecation) |
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5 |
Rate of Interest |
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6 |
Repayment period |
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7 |
Security |
When the prime security is immovable property no collateral security. |
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When the prime security is other than immovable property (hypothecation) then collateral Security should be at least 50% of the loan amount |
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8 |
Guarantors |
One guarantor to be obtained |
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9 |
Processing Charges |
0.25% of loan amount + applicable taxes |
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10 |
Other Conditions |
1. The applicant and guarantor must be resident of within the vicinity of the branch for at least one year. 2. All other loans availed by the applicant from different sources must be regular in repayment. |