SBI Doctor Loan 2022

The State Bank of India is the largest public sector bank in the country and one of the largest loan providers in the Best business loan segment. With the ever-longing base of customers, the bank offers a wide range of customer centric products related to the specific field of operations of their individual businesses. The products offered by the state bank are mainly low cost in terms of interest rate charges and other fee/taxes. 

State Bank of India offers easy loan to professionally qualified doctors, holding a degree, and the ones who are looking forward to setting up a new clinic or look to purchase new medical equipment for the existing set-up and for various other purposes. 

Here are some of the key features of the Doctor Plus Scheme;

• Maximum quantum of loan up to ₹ 5 Crore
• Flexible repayment tenor starting from 3 – 7 years
• Card facility available
• Increased quantum for Corporate/Partnerships/Individuals
• Repayment based on cash accruals of the set-up

State Bank has provided some specific guidelines when it comes to the eligibility for a doctor to avail a personal loan. The SBI Doctor Plus Scheme is a customized loan product that one can avail to fulfill both short- and long-term obligations related to business setup and equipment procurement. 

To avail this loan, a borrower requires to submit their proof of registration and other documents pertaining to loan repayment and residential status. 

The eligibility criteria are as following:

• Minimum age requirement is 25 years
• Borrower must be a registered allopathic practitioner
• Promoters of allopathic hospitals/nursing home can apply
• Min. 1 year of ownership of the property and land to be used

SBI offers a two-way disbursement plan for the SBI Doctor Plus personal loan;

The Doctor Plus Scheme is offered on the basis of overall profile score of the borrower, as there are certain eligibility criteria in place there is a lot of scope for the interest rates to be flexible. The initial range of the rate of interest charged under the Doctor Plus Scheme is as given in the table:

The State Bank of India Doctor Plus Scheme requires a few documents for the overall process of loan application. Here is a list of documents required to apply for a Doctor loan from SBI:

SBI ensures that its customers get the most suitable amount of loan at the best interest rates possible. To make it more simplified and interactive with its customers, the bank offers a simple formula to calculate and process the specific monthly instalments one would require to pay for their desired loan amount for a specific tenure.

Now you can easily evaluate and calculate your SBI Doctor Plus Loan eligibility and EMI by using the Personal loan EMI calculator at Afinoz.com. The calculator uses a simple and method-based approach to quickly calculate and determine the EMI outflow every month including the interest rate and other charges you will need to pay as part of the loan repayment.

Let’s take an example if a Doctor avails a loan of ₹ 20 Lakh from the SBI for a flexible tenure, the projected EMI and interest payment for the period of loan repayment will be as shown in the table below:

While you do your State Bank Doctor Plus loan application through Afinoz, you should check the following: -

• Check your State Bank of India Doctor loan eligibility with the personal loan eligibility calculator at Afinoz.com. You can simply log on to Afinoz.com, fill in a form which requires easy details and get a precise and accurate assessment of your personal loan eligibility in less than a minute
• Check your State Bank personal loan EMI with the simplified personal loan EMI calculator at Afinoz.com. This will allow you to get details regarding the amount you would need to pay every month as the repayment of your loan
• You can also check the details about the basic requirement of documents for your Doctor Plus Scheme loan application. Whether you are a salaried doctor or a self-practitioner, applying with the proper set of documents will enhance your chances of getting your loan approved in the least possible time

With State Bank of India, it is quite convenient and easy to track the status of your loan application by taking a few simple steps. First, by visiting the web-site or through the mobile phone application, and login using your credentials such as your login id and password, going further one needs to enter the application number or the document number which is provided for the loan application. Going forward, the page shows the overall activity and the account summary, where one can easily track the loan application status, thus can know whether the loan has been approved, in process or is rejected.

In case of any queries or concerns regarding the Doctor Plus Personal Loan, an applicant or a borrower can connect with the bank on the toll-free number 1800 11 2211 and 1800 425 3800. These numbers are provided for 24X7 support, the customer service executives are prompt and efficient, and can guide a customer through almost all kinds of technical and financial assistance regarding the loan application or other transactional activities.