Special Personal loan schemes for Doctors 2024 – Apply Online

34849 Views

Personal loan for Doctors: Check ✓ loan amount ✓ interest rates ✓ documents ✓ eligibility criteria for doctors loans from SBI ✓ HDFC ✓ Bajaj Finserv ✓ Bank of Baroda ✓ Axis bank ✓ bank of India ✓ PNB ✓ OBC ✓ Allahabad bank ✓ Canara bank ✓ Central bank.

If you are a doctor and you need a hefty amount of money to start your clinic or any other medical facility, what would you do? Well it’s simple; just get a Doctor’s loan from any of the standard banks. Yes its true, you can apply for loan if you are a certified medical practitioner and all your dreams can be well forged into reality. Let’s take a quick look at some of the special loan schemes meant exclusively for doctors.

Personal Loan Interest Rates for Doctors

Banks	Interest Rates
HDFC Bank	10.99 – 20.75%
ICICI Bank	10.99 – 16.50%
Bajaj Finserv	11.99 – 16.00%
SMFG India	14.00 – 33.00%
Kotak Mahindra	10.99 – 16.99%
IndusInd Bank	12.99 – 17.00%
Standard Chartered	10.99 – 14.49%

Processing Fees / Prepayment Charges

Banks	Processing Fee	Pre Payment Charges
Bajaj Finserv	Upto 2.00%	Upto 4% post 1st EMI clearance
ICICI Bank	1999 to 2.50%	Zero or 5.00%
Axis Bank	2.00%	Nil
Kotak	1.5 – 2.00%	5.00%
HDFC Bank	0.8% – 2.00%	4.00%
SMFG India	2.00%	Upto 7.00%, 0% after 3 year
Standard Chartered	NIL (Zero)	Upto 2.00% of loan amount

Bank of Baroda Loan to Doctors

Bank of Baroda brings to you Baroda Loan to Doctors, a one of its kind, designed specially to cater to the financial needs of the doctors. The advance is available for projects related to setting up / expansion of nursing home / hospital / clinic and pathological lab etc.

Key Benefits

The loan can be availed as a demand / term loan and / or overdraft as per your preference

The loan is available for following purposes:

Development of clinic / Clinic-cum-residence, Nursing Home, Pathological Laboratory.
Purchase of medical / diagnostic equipments.
Setting up of operation theatre.
Purchase of office equipments viz. computers, fax, air-conditioners and furniture etc.
Purchase of car, ambulance, etc.
Expansion/ renovation/ modernization of existing premises/ Clinic/ Nursing Home.

Bank of India Doctor’s loan

Purpose

Purchase of equipments, setting up of Clinic, X-ray Lab, Pathological Laboratory, Nursing Home, Poly Clinics etc., clinic-cum-residence, expansion/renovation/modernization of existing premises.

Purchase of vehicles, ambulance, computer etc. for medical practitioner.

Working Capital requirement including stock of medicine /disposables.

Eligibility

Individuals/Partnership/Companies/Trusts.
Applicants / Promoters should have recognized qualification in any branch of medical science like MBBS /BAMS/BDS/BHMS or any recognized degree in Physiotherapy / Radiology etc and should have minimum practical experience required to establish Hospital/Nursing Home/Clinic.
In case Individual, he / she should be a qualified and registered medical practitioner and should have minimum practical experience required to establish Hospital/Nursing Home/Clinic.
Partnership – Out of total partners at least 50% should be qualified and registered medical practitioners.
Company – At least 50% of the promoter / directors should be qualified and registered medical practitioners.
Trusts – Trusts should be registered and having power to borrow. At least one of the trustees should be qualified medical professional and Registered Medical Practitioner.

SBI Doctor plus scheme

SBI Doctor Plus Scheme allows a hassle free financing solution for qualified medical practitioners in any discipline. Although Doctor Plus loan scheme can be opted for all qualified medical practitioners, it is more suitable for freshers who has entrepreneurial attitude.

Features

For buying medical equipments (For dentists doctors, the loan also covers dental implants besides equipments; for orthopedists, the loan also covers various replacements / implants for hip / knee / shoulder / spine etc.)
Setting up clinic, X-ray lab, nursing home, pathological lab, drug stores etc.
For purchase of vehicles, ambulance, computers, etc.
Expansion / renovation / modernisation of existing premises.
For marketing exercises, business trips
Any other activities related to medical profession

Eligibility for Doctor Plus Finance Scheme

Individuals / partnerships / Corporates / Trusts (with powers to borrow)

Promoters should be registered practitioners and possess minimum qualification such as MBBS / BAMS / GAMS / BDS / BHMS

Key promoters should be qualified doctors.

Loan Amount offered through SBI Doctor Plus

Maximum of Rs. 5 crores of which a sub ceiling for Working Capital limits at:

10% of total loan amount for up to Rs 1 crore

5% of total loan amount for above Rs 1 crore.

These are few good options that you have, but it is very much required that you do visit the concerned bank’s website for the exact loan installments according to your requirement.

Corporation Bank – Corp Doctor Plus Scheme

If you are registered Medical Practitioner /Physiotherapist you can get the loan
Interest Rates = 12.85% to 13.85%
Loans upto Rs.5 crores. (medical equipment – Rs.2.5 crore maximum)
Professionals managing Medical Diagnostic Centers & Testing Labs
Third party guarantee is required for loans which are not covered under CGTMSE Scheme.
Nil Prepayment charges

PNB SANJEEVANI – Doctors loan

Eligible – Qualified Doctors (Allopathic, Unani, Ayurvedic, Homeopathic) & registered practitioners, having minimum qualification: MBBS/ BAMS/ BDS/ BHMS/BUMS, Individuals/ Partnership/ Ltd Liability Partnership/Pvt. Ltd.Co/Ltd.Co/ Trust.
Interest Rates starts from 11.85%
Minimum loan amount is Rs.1 lakh
Maximum loan amount is need based.
7 years maximum repayment period
upto 20% waiver in processing fee if applied online

Allahabad Bank Loan Scheme for Doctors/ Medical Practitioners

Purpose: purposes for meeting expenses of professional requirement.
Eligibility: Individual Doctors & Medical Practitioners. Maximum age: 65 years on date of sanction of loan.
Maximum loan amount upto Rs.5 lakh
Interest Rates starts from 14.70%
Maximum repayment period upto 5 years
Processing fees – 1.20% of loan amount, minimum Rs.600/-
Prepayment penalty – 2.20% of outstanding balance.

Canara Bank – Doctor’s Choice

Purpose: equipment purchase, Setting up of Clinic, X-ray lab, Nursing Home, etc.
Eligibility: All qualified registered medical practitioners, established practice / experience of minimum 3 years.
Maximum loan amount Rs.10 lakh
Repayment options avail upto 7 years
Interest Rates = 10.40% to 11.65%