Vikas Sarala Sanjeevini

Vikas Sarala Sanjeevini - OD Facility to Doctors

Purpose To meet out the day to day requirements or for any genuine purposes
Eligibility Authorized medical practitioner with minimum qualification of MBBS/ BDS, approved by Indian Medical Association (IMA).
Quantum Loan Three times of average annual income based on IT Returns of past three years with a maximum of Rs.25 lakhs
Margin Not Applicable
Rate of Interest 12% pa
Repayment Period To be renewed annually and interest to be serviced monthly
Security a) Up to Rs.5 lakh : 25% of loan amount in the form of deposit / LIC /NSC or 33% of loan amount in case Mortgage of land or building.
b) Above Rs. 5 lakh : Collateral security by way of NSC, KVP/ Deposits/ LIC policies-equal to loan amount
OR
Mortgage of land or building. The value of the land or building shall be 133% of the loan amount. The property should be in the name of borrower& should be free from encumbrances.
Co-oblignat/ Surety Solvent third party / ieswith sufficient net worth acceptable to the Bank shall be obtained.