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Cent Dentist Scheme for IDA members

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

  • 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:-
  • Rural/Semi Urban areas
Maximum Rs.50.00 lakh, inclusive of working capital (WC) limits upto Rs.5 lakh, if required.
Urban/Metro areas Maximum Rs.200.00 lakh, inclusive of working capital (WC) limits upto maximum of Rs.10 lakh, if required.

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

  • (a) For new Dentists.
MCLR+ 0.5% (floating)
  • (b) For other Dentists.

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

  • 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
Loan type Forms
Application Form 1 for Loan of Rs.5 Crore to Rs.15 Crore Download Word Document Format
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Application Form 2 for Loan of Rs.15 Crore to Rs.40 Crore Download Word Document Format
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Application Form 3 for Loan of Rs.40 Crore and above Download Word Document Format
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Standardised Common Loan Application Form for Agriculture Credit Download PDF Document Form
Common Application Form (Required for all loan schemes). Download Word Document Format
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Cent Buy Download Word Document Format
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Cent Sahyog (form for upto 10 lakhs) Download PDF Format
Cent Sahyog (form for above 10 lakhs) Download PDF Format
Application for Agricultural Loans Download PDF Format

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