Purpose
- Purchase of equipment including computer for the clinic, setting up of Dental Clinic etc., clinic-cum-residence, expansion /renovation /modernization of existing clinic.
- Working Capital requirement including stock of medicine /disposables.
Eligibility
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Applicant/Dentist should be member of IDA. Original of IDA membership certificate and photocopy to be submitted. Original will be returned after verification.
- Individuals/Partnership/Companies/Trusts.
- Applicants / Promoters should have recognized qualification in BDS/MDS, should have completed House Surgeoncy to establish Dental Clinic and should be a registered Dentist.
- Partnership - Out of total partners at least 50% should be qualified and registered Dentists.
- Company - At least 50% of the promoter / directors should be qualified and registered Dentists.
- Trusts - Trusts should be registered with power to borrow. At least one of the trustees should be qualified and registered Dentist.
Quantum of Loan:
- New Dentists (within 3 years, including house surgeoncy) in any location Maximum: Maximum Rs.10.00 lakh, inclusive of working capital limit upto maximum of Rs.1 lakh, if required.
- Other Dentists:-
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Maximum Rs.50.00 lakh, inclusive of working capital (WC) limits upto Rs.5 lakh, if required.
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Urban/Metro areas
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Maximum Rs.200.00 lakh, inclusive of working capital (WC) limits upto maximum of Rs.10 lakh, if required.
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Margin
- 25 % for construction of Dental Clinic/WC.
- 15 % for purchase of new equipment.
Security
Primary:
- Hypothecation of assets acquired out of bank finance.
- EM of property with building owned by the Dentist in case construction of building for clinic/clinic-cum-residence is done in owned property
Collateral
- Collateral of minimum 50% of loan sanctioned to be provided by the borrower. The loan will not be covered under CGTMSE Scheme
Rate of Interest
MCLR+ 0.5% (floating)
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Loans upto Rs.100 lakh |
Loans over Rs.100 lakh |
| Purchase of equipments, WC |
MCLR+1.75 % (floating) |
MCLR+1.75% (floating) on entire loan amount. |
| Construction of Dental Clinic / Clinic-cum-residence |
MCLR+2.00 % (floating) |
MCLR+2.00 % (floating) on entire loan amount |
Guarantee
For loans above Rs.100.00 lakh, Personal Guarantee of all the Partners, Promoter Directors, Trustees to be taken in case of Partnership, Limited Company and Trust account respectively.
Disbursement
Branch can make multiple disbursements over a period of 12 months from the date of sanction on the basis of requirement. However, the maximum period of loan should not exceed 7 years or 10 years as applicable/mentioned in Para 11 under Repayment Period parameter.
Repayment Period
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New Dentists: The maximum repayment period will be maximum 66 months including 6 months of moratorium.
- Other Dentists: In case of purchase of equipments etc. excluding WC, maximum repayment period is 84 months including moratorium period of 6 months. In case of Loan for construction of Dental Clinic / Clinic-cum-residence, maximum repayment period of loan can be 10 years including moratorium period of 12 months.
For further details please contact our nearest branch or call on the toll free no.
1800 22 1911