SBI Arogyam Healthcare Business Loan
SBI Launched a Business Loan Scheme
The State bank of India is the country’s largest bank that has launched a new business loan in the name of ‘SBI Arogyam Healthcare Business Loan’ to help the healthcare sector. In this, businessmen will be able to get a minimum loan of 10 lakhs and a maximum loan of up to 100 crores. Arogyam Healthcare business loan will be available in the form of cash credit, term loan, bank guarantee, and letter of credit. State Bank of India (SBI) said in a statement, “SBI has introduced Aarogyam Healthcare Business Loan to support the healthcare sector in the country amid the pandemic.”
How much loan can be availed?
Bank has categorized the loan amount as per the sector of Indian cities as below:-
- For metro cities: – up to 100 crores.
- For medium and urban cities:- 20 crores.
- For smaller cities that are tier 3 to tier 6:- maximum to 10 lakhs.
According to the statement, the units will not have to give any guarantee for loans up to Rs 2 crore. This loan will come under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Guarantee Scheme.
Who can avail of this loan?
According to SBI’s statement, under this, loans up to Rs 100 crore (according to the geographical situation) will be made available to hospitals, nursing homes, diagnostic centers, pathology labs, health sector manufacturers, suppliers, importers, logistics companies, etc. The repayment period of this loan is 10 years. Aarogyam loans can be taken for expansion and modernization or working capital requirements.
READ HERE – WHAT ARE THE CONCEPTS OF ENTREPRENEURSHIP
SBI Chairman Dinesh Khara said that our health system has been providing uninterrupted and unprecedented assistance to the country amid the pandemic for the past year. In recognition of his contribution in the wake of COVID-19, we are delighted to launch Aarogyam Healthcare Business Loan for him.
Special features of this loan
“Bank has said that this new loan product will help the necessary financial support. This new loan will help for the expansion and modernization of the existing units in the healthcare sector. this will help them to create new facilities in this sector. He also said that this is our effort to strengthening healthcare by developing infrastructure all over the country.
ALSO, READ HERE – The Power of Self Confidence
- Loans up to Rs 10 lakh will be available for small cities
- Loan up to 2 crores will be available without any guarantee
- The country’s largest bank State Bank of India (SBI) has launched Arogyam Healthcare Business Loan. This loan is a unique loan scheme that has been designed especially for the healthcare sector.
Can be availed in the form of cash credit, term loan
- According to the press statement issued by the bank, this new loan can be taken in the form of cash credit, term loan, bank guarantee, and letter of credit. This new loan scheme has facilities of a maximum of 100 crores and a minimum of 10 lakhs. This loan will be for 10 years and under this, the expenditure will be on the expansion and setting up of the new facility.
Chairman launched the product
- This unique loan product was launched by the bank’s chairman Dinesh Khara. This new product has been launched to support the healthcare sector of the country. Under this, all healthcare ecosystems such as hospitals, nursing homes, diagnostic centers, pathology labs, suppliers, importers, logistics companies can take loans. 10 lakh for small cities and then the loan will be given to other big cities on the same basis. For big cities, the bank will give loans up to Rs 100 crore.
YOU MAY READ HERE – HOW TO BUILD A TUNNEL TO BECOME RICH
No guarantee up to 2 crores
- Under this loan, the units and companies that take loans will not have to give any kind of guarantee or security for up to Rs 2 crore. The bank will cover it under the Guarantee Scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). Dinesh Khara said that our healthcare system has been providing the uninterrupted and best support in the country for the last year. Because of this, we have launched this product under Kovid-19.
READ HERE – MOSQUITO REPELLENT LIQUID
- This is a kind of business loan. We believe that the special loan product will be able to help companies in need. The Arogyam Healthcare Business Loan will come under the Covid Loan Book and it has been created by the bank under the rules of the Reserve Bank.
The personal loan was also launched
- A personal loan has also been launched by the bank. Interest will be charged at the rate of 8.5% on that loan. The bank said in a press statement that loans up to Rs 5 lakh will be available for 60 months i.e. up to five years. Interest will have to be paid on it at the rate of 8.5%. Currently, interest rates are at historically low levels. Home loan is currently available at the rate of 6.70%. This loan has been launched by the bank only for corona-affected patients.