Personal Loan for Doctors in India 2022

Purpose

Any medical doctor can avail these loans if-

• He does not have adequate funds for starting a clinic/medical establishment of his own
• He wants to buy some costly medical equipment for his existing clinic/medical establishment
• He is looking to expand/renovate  his existing clinic/medical establishment

Educational qualifications required

For availing such loans, a medical doctor should be having any of the below-mentioned qualifications-

• MBBS- for Graduate Doctors
• MD/MS/DM - for Super Specialist Doctors
• BHMS/BAMS/DHMS -for Ayurvedic and Homeopathic Doctors
• BDS/MDS -for Dentists

Work experience

• Any salaried  doctor can avail such a medical loan
• For a self-employed doctor, he should be functioning either as a sole proprietorship firm, partnership firm, or a public/private limited company

• This SBI doctor loan provides a hassle-free credit solution to qualified doctors in any discipline.
• SBI Doctor Plus is very much suited for fresh medical practitioners with entrepreneurial ambitions.
• Registered medical companies and trustees can also benefit from this SBI doctor loan scheme.
• A doctor can use the funds to set up his clinic, pathological lab, X-Ray lab, drug stores, nursing home, etc.
• This SBI doctor loan can also be used for buying ambulances, acquiring medical equipment, computers, lab equipment, etc.
• An SBI Doctor Plus personal loan is sanctioned for making expansions/renovations to the existing clinics/hospitals as well
• You can also use the funds for activities such as business trips and marketing exercises related to the medical profession
• The interest rate ranges from 10.25% to 10.75% per annum
• You can avail a loan amount between Rs 10 lakhs to Rs 5 crores
• SBI Doctor plus has a flexible repayment tenure between 3 to 7 years.

• You can avail a Bajaj Finserv Doctor Loan for non-medical purposes too (such as holidays, wedding, child education, and so on)
• You can avail a loan up to Rs 32 lakhs
• Hassle-free online application
• A Bajaj Finserv Doctor Loan is known for minimal documentation and quick approval. The loan will be credited to your account in just 24 hours
• A Bajaj Finserv Doctor Loan has a flexible repayment tenure between 1 to 8 years.
• You do not need to pledge any collateral to avail this personal loan
• No charge is levied for any prepayment made. But the prepaid amount should not be less than the total of 3 EMIs. Also, no maximum limit is imposed on the prepaid amount.
• You can avail the Flexi loan facility, where you can prepay and use funds up to a fixed limit. Also, interest is charged only on the amount uttilized.

• Offered to registered doctors practising Ayurvedic, Allopathy, Unani, Dental, and Homeopathy medicines
• The bank offers a maximum loan amount of upto Rs 10 lakhs
• The doctors need to have a minimum experience of 3 years in their professions.
• The interest rates range from 10.05% to 11.85%.
• This medical loan can be used for purchasing medical equipment, to set up clinics, X-Ray/pathological labs, nursing homes, etc.
• The loan can be repaid anytime within 7 years.

• This loan is offered to any qualified medical doctor with a Medical Council of India (MCI) registration.
• The applicant should be between 25 to 75 years of age
• This medical loan can be used by any registered doctor having a minimum of 3 years of experience
• This medical loan can be availed as an individual/joint/proprietorship. However, at least 50 % of the partners/promoters/directors should be qualified & registered medical practitioners. In case of a trust, this needs to be registered. The trustees should have the power to borrow. At least one of the trustees should be a qualified & registered medical practitioner.
• Has a flexible repayment tenure up to 7 years
• Such loan schemes are also sanctioned for making expansions/modernizations/renovations to the existing premises as well
• This loan can be used for acquiring medical equipment, buying ambulances, computers, lab equipment, etc.
• The maximum loan amount is Rs 20 lakh or 24 times the gross monthly income

• This loan can be availed by any registered medical doctor in the form of a term loan, overdraft, or working capital loan.
• It can be availed to set up clinics, operation theatres, X-Ray/pathological labs, clinic cum residences, nursing homes, etc.
• This loan can also be used for purchasing medical equipment and diagnostic tools, buying ambulances, goods carriers, ACs, computers, office equipment, furniture, etc.
• Such loans are also approved for expansions/renovations of existing premises

• These loans are offered to doctors practising Allopathy, Unani, Ayurvedic, and Homeopathy medicines.
• Under this loan scheme, finances are available from Rs 1 lakh onwards
• The loan can be repaid anytime within 7 years.
• The interest rate starts from as low as 11.85%
• The bank waives up to 20% of the processing fees for online applications.

• The rate of interest starts at 14.70%.
• You can get a maximum loan amount of Rs 5 lakh under this scheme
• The applicant should be below 65 years of age at loan sanction.
• The bank charges a nominal processing fee @ 1.20 % of the loan amount or Rs 600, whichever is higher.
• You need to repay this personal loan for doctors within the tenure of 5 years
• It levies a prepayment charge of 2.20 % of the principal outstanding