Maha Doc+ Loan Scheme : Bank of Maharashtra

Organisation : Bank of Maharashtra
Facility : Maha Doc+ Loan Scheme
Applicable For : Bank of Maharashtra A/C Holder
Website : http://www.bankofmaharashtra.in/Maha-Doc-Loan-Scheme.asp

Maha Doc+ Loan :

** For acquiring premises on ownership basis required for running Clinics/Nursing Homes, Polyclinics, pathological lab subject to compliance with license / registration requirements under laws of State / Central Govt. as the case may be, be ensured

Related : Bank of Maharashtra Know your Loan Application Status : www.statusin.in/25870.html

** Purchase of equipments, furniture & fixture, furnishing, professional tools, computers, UPS, software etc.
** Renovations, expansion and modernisation of existing centre.

** Purchase of vehicles, ambulance etc. for medical practitioner
** Working Capital requirement including stock of medicine /disposables
Eligibility : Qualified registered medical practitioners with minimum qualification BAHMS/BAMS / BPT / MBBS / BDS

Amount : Rural area & Semi-Urban Rs. 50.00 lakhs, Urban & Metros Rs.500.00 lakhs
Margin : Generally 25%, which can vary according to requirement and assessment.

Security : Assets created by the Loan to be charged to the bank and other collateral security
Repayment by EMI : Maximum repayment period for Term Loan is 12 years
Processing fee : 1% of the loan amount

Interest Rates :
Base Rate : 9.70% (With effect from 05.10. 2015)
BPLR : 15.00% ( With effect from 01. 10. 2011 )

MSME Credit + Scheme :
** Short Term Loan upto 180 days

** Provide timely and need based additional working capital and Term Loan assistance to existing MSME borrowers of the Bank as well as of MSME borrowers of other Banks by taking over the credit facilities.

** Eligibility : All Micro, Small and Medium Enterprises, as defined under MSMED Act, 2006 are eligible for finance under the scheme with external rating AAA to BBB or Collateral Security (Non Agriculture property/Paper based Security) with collateral cover (Realizable Value) of more than 100% for the existing fund based credit facilities upto limit Rs.20.00 crore and non fund based limits upto Rs.10.00 crore.

** 25% concession in applicable processing fees
** 1% concession on the applicable Rate of Interest

About Us :
Maharashtra has a long history of commercial activity since ages because of its strategic location in Indian sub continent and its large natural resources.

Maharashtra has been a progressive region and the Banking activity was also started in this region quite early. Historically speaking, the Bank of Bombay established in 1840 was the first Commercial Bank in Maharashtra.

However, the first commercial bank set up in Maharashtra outside Mumbai was The Poona Bank established in 1889 at Pune followed by The Deccan Bank in 1890 and the Bombay Banking Company in 1898.

Contact Us :
Bank of Maharashtra
Central Office, ‘Lokmangal’,
1501, Shivajinagar Pune-411005

FAQs :
1. Who can become guarantor to a loan?
Any person ,known to bank and having worthiness to repay the loan of the borrower in case the borrower becomes defaulter, can become guarantor.

2. Is it necessary that guarantor should be account holder of Bank of Maharashtra?
Not necessary but he should be known to the bank and be capable to repay the dues of the bank if the borrower becomes defaulter.
3. What is margin money?
It is the contribution by the borrower towards the cost of project for which loan is applied for.

4. What is a clean loan?
It is a loan where no primary or secondary security is taken by the bank.However, bank can insist for a guarantor for the loan.