PNB Loan alert! Up to Rs 2 cr loan for these professionals - Know full details here
PNB Loan - If you are a medical practitioner and are willing to set up a clinic or hospital or are looking for expansion, renovation or any other work, here is your opportunity to do it. India’s second-largest public sector bank Punjab National Bank (PNB) is giving loans up to Rs 2 cr with repayment period up to 10 years. See if this scheme ticks all the boxes for you
PNB Loan - If you are a medical practitioner and are willing to set up a clinic or hospital or are looking for expansion, renovation or any other work, here is your opportunity to do it. India’s second-largest public sector bank Punjab National Bank (PNB) is giving loans up to Rs 2 cr with repayment period up to 10 years. See if this scheme ticks all the boxes for you.
PNB Sanjeevani Scheme – What all can you do with this scheme
- Setting up and modernisation of nursing home, clinic, hospital, veterinary hospital
- Infrastructure for Medical Tourism including Pathological Laboratory, Diagnostic centres etc.
- To purchase medical equipment including vehicles, ambulances and implants) and office equipment including computers, air conditioners, office furniture.
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Eligibility - Individuals including proprietorship firms should have requisite qualification in any branch of medical science from a recognised university and having minimum qualification as MBBS/ BDS(Dentist)/ BHMS/ BAMS/ Veterinary/ BPT/ BUMS.
Further, Post Graduate or diploma qualification is mandatory for financing of specialised equipment like CT SCAN, MRI SCAN and PET Scan etc.
All entities must have valid license, required approvals and/or registrations from the statutory authority and have employed qualified doctors.
- Maximum overdraft limit up to Rs 1 cr shall be sanctioned in case of individuals if experience is less than 2 years then.
- In case of other than individuals, minimum stake of qualified doctors should be 75 per cent and in case of Trust it should be minimum of 50 per cent.
- Further, next sanctioning authority can relax this condition.
- Type of facility - Term Loan - need based/Overdraft maximum Rs 2 cr/Non-fund Based (LC/BG) is need based
Tenure of Loan Repayment: Up to 10 years including moratorium period of maximum up to 24 months.
- Hypothecation of entire equipment, Current & Non-current assets of the unit.
- Mortgage of Project Land with existing / future construction thereon.
Collateral Security Minimum 25% collateral security shall be obtained in the form of immovable property / liquid security. No collateral is required if realizable value of the primary security in the shape of Land & Building mortgaged is more than 110% of the total exposure.
Rate of Interest - As per PNB’s guidelines
Processing fee/Documentation fee/Inspection fee etc - As per Loan Policy of the Bank.
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