Status Check, Procedures, Facilities

Organization : Punjab & Sind Bank
Facility : Doctors Special Loan Scheme

Details : https://punjabandsindbank.co.in/
Home Page : https://punjabandsindbank.co.in/

Doctors Special Loan Scheme

Purpose :
Setting up/ acquiring/ construction/ Expansion/ renovation of clinics, Hospitals/ Pathological/ Clinical Labs, Scan/ Diagnostic Centers/Physiotherapy centers, Nursing Homes, Sanatorium etc. including furniture fixture and equipments and for purchase of vehicles, ambulances, computers etc

Related : PSB India Apply For NRI Account : www.statusin.in/22086.html

Eligibility :
Doctors having minimum qualification MBBS/BDS/BPT or equivalent degree

Constitution of Borrower :
Individual, Joint borrowers, Proprietorship, Partnership and Company (Pvt/Public ltd) concerns where majority of share holding is by qualified medical practitioners only in case of firms/companies.

Quantum of Finance :
** Maximum Rs. 2 Crore in Urban & Metros areas
** Maximum Rs.1 Crore in other areas

Type of Credit : Term Loan
Margin :
Upto Rs. 25 Lacs: 15%
Above Rs. 25 lacs upto Rs. 1 crore: 20%
Above Rs. 1 crore upto Rs. 2 crore: 25%

Documentation Charges : Actual Stamp/ Revenue expenses only
Security :
i) Hypothecation of assets to be purchased/acquired with the help of Bank’s finance.
ii) Mortgage of business premises if financed by the Bank.

Collateral Security :
** Collateral is invariably required all the cases subject to following exception:
** “Cases upto Rs. 1 crore which are covered under CGTMSE”

Repayment :
** Total repayment is maximum 7 years including Moratorium period.
** Maximum moratorium period will be two years including construction period in case of new construction of business premises financed by bank. In all other cases maximum moratorium of one year may be allowed based on the justification and merits of the case.

Prepayment :
The prepayment facility is allowed without any charges but not within one year of the loan availment.

Guarantee :
i) Upto Rs.1.00 crore :
** No guarantee required, if covered under CGTMSE.
** In other cases Spouse may preferably be taken as Co-borrower/Guarantor.

ii)Above Rs.1 crore upto Rs.2 crore :
** If owner of the mortgaged property is other than borrower, the guarantee of property owner is must.
** If owner of the mortgaged property is borrower himself, the guarantee of spouse/ major son/ third party with substantial means.

Additional Benefits :
Locker Rent Concession: 50% concession on locker rent for self and spouse for first two years, who avail loan under this scheme.
Housing Loan:As per Housing Loan policy with following benefits subject to Minimum of Base Rate at any point of time
a. Concession of 0.25% in Rate of Interest subject to minimum base rate.
b.Waiver of 50% processing charges on applicable charges.

Auto Loan:
As per Auto Loan policy with following benefits subject to Minimum of Base Rate at any point of time
a. Concession of 0.25% in Rate of Interest subject to minimum base rate.
b. Waiver of 50% processing charges on applicable charges.
c. A letter of undertaking will be taken that Vehicle will also be utilized for clinic purpose, so as to cover the same in Priority Sector viz. a viz. Doctors Scheme.

Rate Of Interest :
The following MCLR rates are applicable for new loans sanctioned w.e.f. 05.10.2016 to next review.

HOUSING LOANS :

AUTO LOANS :

COMMERCIAL VEHICLE SCHEME :
New vehicle :
For Existing units – As per credit rating for MSME advances.
For new Enterprises – As applicable to MSME advances credit rating -3-.
Concession of interest on new vehicles @0.50% in the case where margin is above 40% of the total cost of the vehicle subject to minimum of Bank’s One Year MCLR.

Gold Loan Scheme :
i) For Productive Purpose (Agriculture): Rates as per policy of rates for agricultural loans.
ii) For Productive Purpose (Other than Agriculture): One Year MCLR+3%
iii) For Non-Productive Purpose: One Year MCLR + 4%
iv) Staff (Non-productive purpose): One Year MCLR+ 3%