Doctor Loan

Loan for Doctors: Details



Interest Rate	10.50% onwards
Processing Fee	Nil to Upto 3.00%
Loan Tenure	60 months
Lowest EMI Per Lakh	₹ 877 for 60 Months
Prepayment Charges	Nil to upto 5%

Apply for Doctor Loan @ 10.50%*

Full Name (as per PAN card) *

Phone Number *

Net Monthly Income *

INR

Enter City *

Loan amount needed *

INR

Choose your Employer type *

Where do you work? *

You work for *

List of Central Forces *

State Name *

Employer Name *

You receive your salary in *

Full Name (as per PAN card) *

Phone Number *

Net Monthly Income *

INR

Enter City *

Loan amount needed *

INR

Choose your Employer type *

Where do you work? *

You work for *

List of Central Forces *

State Name *

Employer Name *

You receive your salary in *

Existing Loan From *

Current Loan Outstanding *

INR

Current Interest Rate on Loan *

Do you currently pay an EMI? *YesNo

Total EMI amount *

Select Your Profession *

Full Name (as per PAN card) *

Phone Number *

Gross annual receipt (as per ITR) *

INR

Enter City *

Loan amount needed *

INR

No. of years of ITR available *

Degree Registration Year *

Full Name (as per PAN card) *

Phone Number *

Enter City *

Loan amount needed *

INR

Type of Incorporation *

Type of Business *

No. of years of ITR available *

Industry type *

Annual Turnover *

Years in Business *

Do you file GST return? *

Date of Birth *

Email Address

Learn More About Doctor Loan

What is a Doctor Loan?

As a trusted loan provider, we at Premier Capital understand the financial challenges that many doctors face throughout their careers. From the high costs of medical school to the demands of running a successful practice, it can be difficult for doctors to manage their finances and maintain a healthy credit score.

That’s why we offer a special loan program specifically designed for doctors. Our doctor’s loan is tailored to the unique needs of medical professionals, offering competitive rates and flexible repayment options.

Whether you’re a resident just starting out in your career or an established physician looking to expand your practice, our doctor’s loan can help you achieve your financial goals. With competitive interest rates and flexible repayment terms, our loan program is designed to fit your individual needs.

One of the key benefits of our doctor’s loan is the ability to tailor your repayment plan to your specific financial situation. This means you can choose a repayment schedule that works best for you, whether that means making smaller payments during your residency or larger payments once you’re established in your practice.

Another advantage of our doctor’s loan is the ability to borrow larger amounts of money. While traditional loans may have strict borrowing limits, our doctor’s loan allows you to borrow up to (Amount), giving you the financial flexibility you need to cover the costs of medical school or expand your practice.

We also offer competitive interest rates on our doctor’s loan, ensuring that you’re getting a fair and affordable loan that won’t break the bank. Plus, our loan program is backed by a team of experienced professionals who are dedicated to helping you succeed.

So if you’re a doctor looking for a loan that’s tailored to your unique financial needs, look no further than our doctor’s loan program. With competitive rates and flexible repayment options, we can help you achieve your financial goals and secure the future of your medical practice.

Compare Doctor Loan Interest Rates of Top Banks

Bank	Interest Rates	Processing Fee
SBI	9.00%	3.00%
HDFC Bank	12.50%	2.50%
ICICI Bank	10.50%	2.00%
PNB	7.90%	0.90%
Bajaj Finserv	14.00%	2.00%
Bank of Baroda	10.85%	2.00%
Bank of India	8.85%	Nil
Corporation Bank	10.35%	0.50%
Central Bank of India	9.85%	0.50%
Union Bank of India	10.40%	0.50%
IDBI Bank	12.25%	1.00%

Feel free to use our EMI Calculator

Loan Amount Please enter your loan amount here.

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Loan TermsPlease enter the number of years in which you plan to repay the loan.

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Interest RateThe interest rate will default to the product you selected. You can also change the rate up or down to understand the effect on your repayments and total interest payable.

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Period	Payment	Interest	Balance

Monthly Payment (incl fees)

₹ per month for

Total interest payable

₹ over

Downpayment amount (30.00%)

₹3,000.00

Calculator Disclaimer

The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.

Features And Benefits:

There are several features and benefits that may be available to doctors when they apply for a loan. These may include:

1. No requirement to pledge a collateral
2. Minimum documentation required
3. Faster approvals
4. Low Interest Rates
5. Maximum tenure of up to 60 years
6. Flexible repayment options available

Purposes for which loan is granted	Purposes for which loan is not granted
Construction of Hospital and Clinic	Personal Use
Renovation of Hospital and Clinic	Purchase of Land
Medical equipment purchase	Wedding/Vacation

Documents required for a Doctor Loan:

The documents required to avail a doctor loan in India typically include:

1. Identity proof: This can be a passport, PAN card, voter’s ID, or driving license.
2. Address proof: This can be a passport, utility bill, or rental agreement.
3. Educational qualifications: Proof of education and medical degree, such as a degree certificate or marksheet.
4. Experience certificate: If you are applying for a loan as a practicing doctor, you will need to provide an experience certificate or proof of work.
5. Income proof: This can be a salary certificate or a copy of your income tax returns.
6. Bank statement: A copy of your bank statement for the past six months.
7. Medical council registration: A copy of your medical council registration certificate is typically required.
8. Two passport size photographs along with a filled application form

Eligibility Criteria:

To be eligible for a doctor loan, the following criteria must be met:

Eligible Entities: Salaried and Self Employed Doctors who own a hospital, nursing home or a clinic and should be a licensed medical professional, including doctors, dentists, and veterinarians.

Age: Individuals of minimum 21 year old to maximum 65 years

Loan Tenure: Banks can offer up to 60 years of tenure depending on the age of the borrower

Work Experience: If the borrower is a salaried person then the minimum work experience required is of 3 years, whereas for a self-employed person, business existence of minimum 5 years along with an ITR of 3 years is required.

Minimum Qualification: BHMS/BUMS degree to qualify a loan. You must have a valid proof of employment or a contract for future employment in a hospital, clinic, or medical practice and minimum 1 year of experience. Applicants should have an IMS membership number allotted by the INDIAN Government.

Cibil Score: Most of the banks consider 750 and above credit score eligible to avail a Doctor Loan

Degrees required to avail a Doctor Loan:

Below are the set of documents required to apply for a Doctor Loan:

MD (Doctor of Medicine)/ MS (Master of Surgery)/ DM (Doctor of Medicine) for Super Specialist Doctors

MBBS (Bachelor of Medicine, Bachelor of Surgery) for Graduate Doctors

BDS (Bachelor of Dental Surgery) or MDS (Master of Dental Surgery) for Dentist

BHMS (Bachelor of Homeopathic Medicine and Surgery) / BAMS (Bachelor of Ayurvedic Medicine and Surgery ) for Homeopathic and Ayurvedic Doctors

DHMS (Diploma in Homeopathic Medicine and Surgery) for Homeopathic Doctors

Medical Equipments that can be financed:

1. Sonography Machines
2. CT Scanners
3. X-Ray Machines
4. MRI Machines

Tips to Consider before applying for a Doctor Loan:

Here are some tips to consider before taking a doctor loan:

1. Shop around for the best rates and terms: It’s important to compare offers from multiple lenders to find the best loan for your needs.
2. Consider the fees: Be sure to factor in any fees associated with the loan, such as origination fees, application fees, and closing costs.
3. Evaluate your debt-to-income ratio: Your debt-to-income ratio is a measure of how much debt you have compared to your income. Lenders will typically look at this ratio to determine your ability to repay a loan. Make sure you have a healthy debt-to-income ratio before taking on more debt.
4. Consider the repayment terms: Pay attention to the repayment terms of the loan, including the length of the repayment period, the interest rate, and any penalties for late or missed payments.
5. Avoid Multiple Loan Application: Applying multiple applications increases the chances of the loan being rejected as each query gets registered in your credit report.