Union Aarogyam Loan Scheme For Healthcare Sector

Union Bank of India Aarogyam loan Scheme for healthcare Sector – Check eligibility, Loan amount, Interest Rates, Processing fees and Repayment options.

Sl.No Parameter Details
1. Eligibility a. Entities eligible for fresh lending support are:

  • Vaccine manufacturers
  • Importers/ Suppliers of vaccine & priority medical devices
  • Hospitals/ Dispensaries
  • Pathology Labs
  • Manufacturers and suppliers of ventilators
  • Importers of Vaccines & COVID related drugs
  • COVID related Logistics firms etc

b. All other units other than hospitals engaged in the manufacture and supply of Healthcare Services.
c. Ecosystem engaged in building / servicing Health care Infrastructure.

2. Purpose Financing under the scheme is for ramping up of COVID related healthcare infrastructure and services in the country.
3. Facility Term Loan, Cash Credit, Import Letter of Credit, Bank Guarantee.
4. Quantum of Finance Minimum: Above Rs 10.00 lakh

Maximum: Rs 100.00 Crore.

5. Assessment As per Loan Policy
6. Margin
Term Loan 25%(For purchase of Equipment and Vehicle 15%)
Cash Credit 25% on Stock & Book-Debts (BDs upto 90 days shall be reckoned for DP calculation).
LC/ BG 25% (Cash/ FDR Margin)
7. Charges Processing Charges & Other Charges – 50% of the applicable charges
8. Interest Rate As per IC no.2621-2021 dt.24.05.2021 –
MSME – Minimum EBLR + 2.00% to 2.50%
Others – Minimum MCLR + 2.00% to 2.50%
9. Security Primary Security – Assets created out of bank finance.
Collateral – 25% SARFAESI compliant tangible securities unless covered under CGTMSE.
10. Repayment Term loan is repayable in 10 years including maximum moratorium period 18 months in case of Construction of Hospital/Nursing/Home/ Clinic and up to 6 months in case of only equipment finance.

Working Capital: On Demand.