The general populace of a region can easily access medications through pharmacy distributors or stores, and this service is constantly in demand. As a result, you could gain a lot from starting one. However, if you lack the necessary funding, you can apply for the Dhanvantari Financial Aid pof RBS bank, which is specific for medical distributors and shops, to get things going.
Features
Rates & Charges
Repayment
Eligibility Criteria
Documents Required
Features
- Get maximum working capital for medical & pharma distributors and shopkeepers
- Quick And Seamless Disbursement of Loans:
- Get a maximum of 75 % of Stock & Debtors’ Regular Cash Credit Limit.
- For Term Loan, get 80% of the Cost of Fixed Assets
Rates & Charges
- Margin: 25 % Cash Credit
- 20 % for Term loans.
- Rate of Interest: 10.50% p.a.
- Pre-Payment Penalty: 00% + GST
- Upfront Processing fee: @ 0.30% + GST of New Sanction
- And @ 0.10 % + GST of Renewal/Review on total sanctioned amount.
- Penal interest: 2% to be charged for the period of default in repayment
Repayment
- For Cash Credit Loan the renewal will be after 36 months. (Review 12+12+12)
- Under Term Loan, the repayment period will be a maximum of 07 years for Furniture/Equipment, etc.
- And a maximum of 10 years for the purchase of office/shop etc.
- The mode of repayment will be through EMI for a term loan.
- The moratorium period will be a maximum of 12 months for a term loan.
Eligibility Criteria
- Applicants should be Medical & Pharma Distributor, Medical Stores.
- The applicants should have completed 18 years.
- The loan amount is the proportionate amount to the monthly take-home Net income (NP + Depreciation + TL Int.) of last year, including the proposed loan EMI should not be less than 1/3rd, as per income tax returns for a term loan.
Documents Required
- Proof of identity
- Proof of address
- Proof of income
- Proof of business ownership
- 5 postdated cheques
- Standing Instructions of Saving / Current / CC Accounts.
- Submission of Stock Statement on a Monthly/Quarterly basis.
NOTE: Margin, ROI, and delegation are subject to review by the authorities at the bank.
All other applicable rules & regulations in force should be fulfilled for eligibility.
