The Corporation extends financial assistance to Hospitals, Clinics,. Diagnostic centers and Health Clubs for their modernization and upgradation at a lower rate of interest. The terms and conditions are-

PURPOSE:

The loan shall be used for developmental activities and for the acquisition of quality equipments which helps to modernise and upgrade the existing units.

MAXIMUM ELIGIBILITY

Registered companies and Co-op. Societies are eligible for finance upto Rs.500 lakhs and proprietor and partnership firms can avail loan upto Rs.200 lakhs.

MINIMUM CONTRIBUTION:

The minimum contribution of the promoter shall be 33 1/3% to maintain a DER of 2:1

SECURITY FOR THE LOAN:

Properties of the Units will be primary security for the loan.  This shall cover 100% of the loan amount. If it does not cover 100% the borrower should offer additional collateral security to that extent.

MODE OF DISBURSEMENT

The Corporation shall charges a reduced rate of interest at 14%.  For prompt payment, 1% rebate will be allowed.  Penal interest at the rate of 2% will be charges on defaulted amount for defaulted period.

REPAYMENT PERIOD 

Maximum 8 years.