Get Personal loan for doctors of up to Rs. 5 crores with a tenure of 12 to 96 months. The interest rate starts from 8% p.a. and the processing fee can be up to 3% of the loan amount. These loans are offered to professional doctors/medical practitioners to meet their operational requirements.
|Loan amount||Rs. 2 Lakhs - Rs. 5 Crores|
|Tenure||1 year - 8 years|
|Interest Rate||8% p.a. - 36% p.a.|
|Processing Fee||Up to 3% of the loan amount sanctioned|
|Prepayment Charges||0% - 7%|
A Doctor Loan is a special Loan for professional doctors who own a clinic or are working in a government/private clinic, hospitals, or as consultants. A Doctor Loan can be availed of to serve the financial needs of doctors who are looking to expand their scale of operations.
The following are the benefits of Doctor Loan:
The eligibility criteria to qualify for a Doctor Loan are as follows:
*The eligibility factors may vary from bank to bank
Following are some of the degrees that are required to apply for a Doctor Loan:
Multiple categories of doctors can avail the loan from a bank or any other financial institution.
The categories are as listed below:
Doctor Loan can be utilised for the following purposes:
Secured loan for doctors are mortgage loans. This can be availed by both salaried and self-employed doctors against the mortgage of residential or commercial property.
Banks and other financial institutions offer this loan to doctors to set up a clinic, nursing home or buy medical equipment. Equipment loans are available as secured loans which are against the hypothecation of equipment purchased out of the finance.
Some of the equipment that can be purchased with Doctor Loan are:
Below are top banks that offers personal loan to doctors:
You can apply for a personal loan for doctors through MyMoneyMantra.
The following things need to be considered while applying for Doctor Loan:
Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.99% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.
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The basic eligibility criteria for a Doctor’s Loan are:
Bajaj Finserv, Fullerton India, IndusInd Bank, HDB Financial Services, Hero FinCorp, Punjab & Sind Bank, Tamilnad Mercantile Bank, and HDFC Bank offer specialized loans for doctors in India.
Yes. You must have a CIBIL score of 700 or above to avail of a Doctor’s Loan. In case of secured loan, the CIBIL score requirement could be low.
You can repay your loan in easy EMIs via netbanking, NEFT, or cheques.
If everything goes well, you can get the Doctor Loan amount transferred to your bank account within 24 hours on approval.
Yes. A Doctor Loan is a personal loan only for meeting the financial working requirements of doctors and medical practitioners.