PNB Loan alert! Up to Rs 2 cr loan for these professionals - Know full details here

PNB Loan - If you are a medical practitioner and are willing to set up a clinic or hospital or are looking for expansion, renovation or any other work, here is your opportunity to do it. India’s second-largest public sector bank Punjab National Bank (PNB) is giving loans up to Rs 2 cr with repayment period up to 10 years. See if this scheme ticks all the boxes for you.  

PNB Sanjeevani Scheme – What all can you do with this scheme

1. Setting up and modernisation of nursing home, clinic, hospital, veterinary hospital
2. Infrastructure for Medical Tourism including Pathological Laboratory, Diagnostic centres etc.
3. To purchase medical equipment including vehicles, ambulances and implants) and office equipment including computers, air conditioners, office furniture.  

See Zee Business Live TV Streaming Below:

Eligibility - Individuals including proprietorship firms should have requisite qualification in any branch of medical science from a recognised university and having minimum qualification as MBBS/ BDS(Dentist)/ BHMS/ BAMS/ Veterinary/ BPT/ BUMS.  

Further, Post Graduate or diploma qualification is mandatory for financing of specialised equipment like CT SCAN, MRI SCAN and PET Scan etc.  

All entities must have valid license, required approvals and/or registrations from the statutory authority and have employed qualified doctors.  

About Scheme:

1. Maximum overdraft limit up to Rs 1 cr shall be sanctioned in case of individuals if experience is less than 2 years then.  
2. In case of other than individuals, minimum stake of qualified doctors should be 75 per cent and in case of Trust it should be minimum of 50 per cent.
3. Further, next sanctioning authority can relax this condition.  
4. Type of facility - Term Loan - need based/Overdraft maximum Rs 2 cr/Non-fund Based (LC/BG) is need based  

 Tenure of Loan Repayment: Up to 10 years including moratorium period of maximum up to 24 months.  

Primary Security  

• Hypothecation of entire equipment, Current & Non-current assets of the unit.  
• Mortgage of Project Land with existing / future construction thereon.  

Collateral Security Minimum 25% collateral security shall be obtained in the form of immovable property / liquid security. No collateral is required if realizable value of the primary security in the shape of Land & Building mortgaged is more than 110% of the total exposure.  

Rate of Interest - As per PNB’s guidelines  
Processing fee/Documentation fee/Inspection fee etc - As per Loan Policy of the Bank.