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Business Loans for Doctors

DealsofLoan provides a specific Business loan, which is particularly aimed at helping practicing doctors and consultants in the medical fraternity. The business loans for Doctors help in the expansion of operations by the doctors and thus help in the cause of better medical services and treatment.


What is a Doctor Business Loan?

A Doctor Business Loan is a business loan, which cater to the needs of the medical practitioners and consultants, for the medical facilities expansion and other such. Such Business loan, in a way is helpful towards the development of society with the best medical options as provided to the people.


Purpose of Doctor Business Loan

Doctor loans are available for professional doctors in order to help them fulfill their dreams, setting up their own medical clinic or hospital. Any professional involved in the medical field (you can check out the eligibility criteria for that, later in the article) can consider this loan if,

  • You lack immediate funds availability to bear the expenses for setting up a clinic

  • You need to buy new clinical equipments for your medical clinic

  • You want to renovate or improve your clinic/setup


Who are not eligible for Doctor Business Loan?

Such loan is not available for the following:

  • Personal Loan

  • For the purpose of purchase of land

  • Wedding or for any purpose like vacation


Doctors Business Loans by DealsofLoan

DealsofLoan brings special Doctors Program for MBBS, BDS & above qualification. The features of Business loans for Doctors are mentioned below:

  • Interest rate start from @10.99%

  • Loan up to 5 Years

  • Min Age – 25 years

  • Max Age – 65 years

  • Min Loan Amount – Rs. 200000

  • Max Loan Amount – Rs. 1 Cr

Expert Advice by DealsofLoan for Doctor Business Loan

Here, at DealsofLoan, we provide expert advice on Doctor Business Loan. Here are some expert tips:

  • Know your credit history score and eligibility.

  • Know the best deals on Doctor Business Loan

  • Be Crystal Clear in terms and conditions for a Business Loan for Doctors

  • Plan the repayment before in hand

  • Do Analysis for Cost Benefits

  • Take payment protection insurance for sure

Rates of Interest for Doctor Business Loans

Here is the table containing rates of interest for Doctor Business Loans

Banks/Finance company Rate of Interest Lowest EMI per Rs. Lakh for Max Tenure
State Bank of India 11.20 % Rs. 2594 for 48 months
HDFC Bank 11.25 % Rs. 2187 for 60 months
ICICI Bank 12.50 % Rs. 2250 for 60 months
Punjab National Bank 11.20 % Rs. 1,723 for 84 months
Bajaj Finserv 14.00 % Rs. 2,733 for 48 months
Bank of Baroda 10.85 % NA
Bank of India 10.80 % Rs. 3,264 for 36 months
Central Bank of India 10.75 % Rs. 1,699 for 84 months
Dena Bank 10.10 % Rs. 1,665 for 84 months
Union Bank of India 12.00 % Rs. 1,765 for 84 months

EMI Calculator

Your EMI will be: 0


What are the loan tenure options for Doctor Business Loan?

The Loan tenure of Doctor Business Loan varies from 1 year to 5 years

Is there any security which I need to provide to get Doctor Loan?

There is no collateral involved in getting a Doctor Business Loan.

How do I repay my Doctor loan?

The repayment of the DealsofLoan Doctor Business Loan can be made in equal monthly installments (EMIs). The loan will be paid through post-dated cheques; even, you can also pay your EMIs through Electronic Clearing System (ECS ) or a standing instruction to debit your HDFC Bank account with the EMI amount.

What is the amount of loan, which I can avail?

You can avail of a loan ranging from Rs 50000 to Rs 1 Cr, depending on your income, repayment ability and respective location product cap.

Is there any benefits of having a Current / Saving Account for my Loan to Doctors?

Yes, of course, you are eligible for getting preferred Processing Fee, priority processing and simpler documentation, if you have a Current / Saving Account with HDFC Bank. However, this criterion is valid during the time of disbursal of the loan. Also, on the name of benefit, you can pay through Standing Instructions to debit your HDFC Bank account with the EMI amount.

As Indians are getting more prosperous, the aim of the DealsofLoan is that they do have better medical facilities, which can also be achieved with more medical practitioners, applying their part. We do encourage them with such an ambition, and offer a helping hand to promote their practice with easy, low interest rate Doctor Business Loans!
Contact DealsofLoan for best advice and deals on Business Loans for Doctors!

Eligibility Criteria for Doctors Business Loans

    The following is the eligibility criteria for Doctors Business Loans:

  • Super-specialist doctors (MS/MD/DM) – No minimum post-qualification experience is required
  • Graduate Doctors (MBBS) – A Minimum of 2 years of post-qualification experience is required
  • Dentists (BDS/MDS) – A Minimum of 5 years of post-qualification experience is required
  • Ayurvedic and Homeopathic Doctors: BHMS/BAMS – A Minimum 6 years of post-qualification experience is required, and must own a house or a clinic
  • Homeopathic Doctors: DHMS – A Minimum of 15 years of post-qualification experience is required, and must own a house or a clinic.

Documents required for Doctor Business Loan

The following are the Documents required for Doctor Business Loan:

For Salaried Person:

  • Filled Application form
  • Proof Identity (PAN CARD etc.)
  • Proof of Qualification
  • Proof of Address
  • Proof of Own House
  • Latest 3 months payslips
  • 2 Passport Size color Photographs
  • 3 Post Dated Cheques/ECS Mandate
  • 6 months Bank Statements

For Self Employed Person:

  • Filled Application form
  • Proof of Identity
  • Proof of Address
  • Proof of Qualification
  • Last 2 years Income Tax Returns
  • Professional/Self employed existence proof for more than 3 years
  • 2 Passport Size color Photographs
  • 3 Post Dated Cheques/ECS Mandate
  • 6 months Bank Statements
  • Filled Application form
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