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Various Bank Loans Available For A Dentist In India

This article gives a list of all the major bank loans that are available for a dentist in India. All the major bank loans exclusively for the dentists have been mentioned in one article.

SBI Dental Doctor Plus Bank loan

Simplified and collateral free bank loan from SBI for registered Dentist who has BDS and above qualification. The details of Dental Doctor Plus of SBI is given below

Eligibility for availing SBI Dental Doctor Plus bank loan

  • Individuals / Partnership firms / Ltd. Co / Trust.
  • Promoters should have minimum BDS and should be registered practitioners.

Purpose of Dental Doctor Plus

  • To boost the financing to Dental equipment under tie-up arrangement.
  • To finance qualified dentists
  • For buying equipment
  • Any other activities related to Dental profession

Nature of facility

Term loan

Margin

  • Up to Rs. 25,000 – NIL
  • Over Rs. 25,000 and up to Rs. 5 Lakhs – 10%
  • Over Rs. 5 Lakhs and up to Rs. 10 lakhs – 20%

Tenure of Loan

  • Maximum period of 5 to 10 years with maximum moratorium period of 6 months
  • For construction purposes, the moratorium period is 12 months (can be relaxed upto 24 months at the discretion of an authority one level higher than the sanctioning authority)

Primary security

Hypothecation of assets financed by the Bank

Collateral security

NIL

Loan amount

Maximum of Rs.10 Lakhs.

Oriental Bank of Commerce Doctors Loan

SCHEME FOR LOANS TO DOCTORS
Eligibility Qualified registered medical practitioners with minimum qualification BIMS/BAMS/ BUMS/ DHMS/BHMS/ BPT/ MBBS/BDS & above
Constitution of the Borrower Individuals, 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.
Purpose 1. For acquiring premises on ownership basis required for running Clinics/Nursing Homes, subject to compliance with license / registration requirements under laws of State / Central Govt. as the case may be, be ensured.

2.  For purchase of furniture & fixture, furnishing, renovating existing clinics.

3. For purchase of standard make medical equipments, professional tools, computers, UPS, software, library, books
Amount of loan Upto Rs.100.00 Lacs
Type of facility a) Term loan

b) Clean Over Draft limit – Rs. 5.00 lacs (Subject to availability of tangible collateral security equivalent to 200% of the OD loan limit, within the overall composite loan limit ceilings).
Security Prime security

1.Hypothecation of assets to be purchased/acquired with the help of bank’s finance.

2.Equitable mortgage of business premises if financed by the Bank.

Collateral security :

For loans upto Rs.5.00 lac

1. Doctors having qualification of MBBS/BDS and higher professional degree

No collateral security, except one third party personal guarantee of person having adequate net worth preferably of spouse.

2.Doctors having qualification other than the above.

No collateral security, except two third party personal guarantees of persons having adequate net worth, one guarantee shall be of spouse.

For loans above Rs.5 lac and upto Rs. 10.00 lacs

Tangible & realizable collateral security equivalent to 50% of the loan amount and one personal guarantee preferably of spouse.

For loans above Rs. 10.00 lacs

Tangible & realizable collateral security equivalent to 75% of the loan amount and one personal guarantee preferably of spouse.
Margin      25%
Rate of Interest Click here to view Rate of Interest.
Penal Interest In case of delayed payment, a penalty of 2% on the overdue amount for the over due period shall be charged.
Process fee/ Upfront fee 0.50% of the total limit sanctioned subject to minimum of Rs.500/- +Service tax, if any.
Repayment Total repayment period -7 years inclusive of maximum moratorium period of 1 year.

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