Andhra Bank
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Toll Free Number : 1800 425 1515

 
AB Doctor Plus
 
A scheme to provide finance to the qualified Medical practitioners and Doctors in any Branch of Medical Science.
  Purpose
  • To set up clinics, Pathological/X-Ray/ Sonographic /any other
  • Diagnostic Imaging Laboratories /purchase of medical equipment, medical software, computers for hospital purposes.
  • Furnishing of Nursing Homes (construction of Nursing Home is not covered under the scheme)
  • Purchase of Ambulance Working capital requirement for existing Nursing Home.
 
  Eligibility
  1. Constitution: Individuals, Firms, Limited Liability Firms, Companies Trusts and Societies engaged in rendering professional medical services. In case of non-individual constitution – key promoter should be a qualified medical practitioner.
  2. Qualification and experience: All practicing qualified medical practitioners holding a recognized graduate degree in any Branch of Medicine/Surgery/Dental Science/ Physiotherapy /Radiology/ Pathology /Diagnostic Imaging etc with a minimum practicing experience of two years.

  Nature of Facility
      Term Loan/Overdraft/both.

  Loan amount - Max
      Rs.20 Lakh
 
  Margin
  1. 25% for equipments / Furnishing of existing Nursing Homes /Ambulance.
  2. Working Capital Limit: 75% of the revenue expenditure of the previous year as per Profit and Loss account certified by Chartered Accountant.
 
  Collateral Security
  1. No collateral security or Third Party Guarantee.
  2. Post Dated Cheques for initial 6 months
 
  Rate of Interest
      Base Rate +3.25 floating irrespective of nature of limit and tenure of limit. No term premium.
 
  Other Charges
      50% of applicable processing charges / upfront fee.
 
  CGTMSE Premium
      Applicable CGTMSE premium to be borne by the borrower.
 
 Repayment schedule
  1. Max. 84 months and holiday of 1 year for principal & interest.
  2. For working capital limits (in the nature of Unsecured overdraft) for 1 year – eligible for renewal subsequently.