Looking for MSME Loan for Doctors and Medical Professionals from Punjab National Bank?

This page contains all the information you will need on PNB’s MSME Loan for Doctors and Medical Professionals who need funds to set up or expand their practice.

Punjab National Bank PNB Sanjeevani Loan

This loan helps doctors and medical practitioners meet their working capital requirements or capital expenditure right from setting up a clinic, nursing home, hospital or pathology lab to purchase of equipment, vehicles or ambulance. The maximum loan amount sanctioned by the bank for this loan scheme is Rs. 5 crore.

Features of PNB Sanjeevani Loan Scheme

Why this Loan?

  • This Punjab National Bank PNB Loan Scheme for Doctors is meant for medical practitioners who need financial assistance in fulfilling their working capital and capital expenditure needs
  • Qualified Medical practitioners from different branches of medicine such as Allopathy, Homeopathy, Unani, Ayurveda, etc. are eligible for this loan if they have experience in running the business
  • Individuals, Proprietors, LLPs, Trusts and companies can also avail this loan if a qualified doctor owns majority stake in them. The minimum qualification is MBBS, BAMS, BDS, BHMS, etc.

Loan Amount

  • The maximum loan amount is Rs. 5 crore

Interest

  • The interest rate applicable to this loan is not mentioned on the bank’s website. We suggest checking with a bank representative for details

Repayment

  • These loans need to be repaid within 7 years inclusive of moratorium period
  • The repayment moratorium for this loan can be anywhere from 6 months to 18 months

Security Needed

  • The bank asks for hypothecation of assets created under the loan and residential/commercial property as collateral security. The information on security needed for this loan is not clearly mentioned on the bank’s website. We suggest you ask a bank representative for these details

Eligibility

  • The borrower should be a qualified registered medical practitioner in any branch of medical science including Allopathy, Homeopathy, Ayurveda, Unani, Dental, etc. with experience of running business. Individuals, Proprietorship, Partnership, Trust and Companies with a qualified medical practitioner (holding a valid license) are also eligible for this loan
  • The loan amount can be used for setting up clinics, purchasing equipment, expansion of unit, purchasing vehicles for business use, meeting business trip expenses, meeting working capital needs, etc.

Borrower Contribution to Total Cost (Margin Money)

  • The bank asks for up to 25% of the total loan amount as margin

Note: Margin money refers to the amount the borrower contributes to the overall amount required. The bank will cover the rest. So, if the total amount needed is Rs. 20 lakh, you will have to contribute 20% which comes to Rs. 4 lakh. The bank will provide the balance of Rs. 16 lakh.

Processing Charges

  • The borrower has to pay up to 1% of loan amount as processing fee

Documents Needed for Individuals

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card/ PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report

Documents Needed for Proprietorship and Partnership Firms

  • Loan Application Form duly filled and signed
  • Partnership Deed and Partnership Registration Certificate
  • ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References

Documents Needed for Private Limited and Public Limited Companies

  • Application Form duly filled and signed
  • Company ID Proof: Company’s PAN Card
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
  • Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References

Reference Facts

  • Punjab National Bank Website: www.pnbindia.in and www.netpnb.com (net banking)
  • Headquarters: Dwarka, New Delhi
  • Call Centre Toll-Free Number: 1800 180 2222, 1800 103 2222