Doctor Loans - Everything You Wanted To Know
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Doctor Loans - Everything You Wanted To Know

  • Highlights

  • Doctor loans meet all professional and personal needs of doctors

  • Loan Eligibility depends on your medical experience and qualification

  • Apply for a Bajaj Finserv Loan for Doctors with minimum documentation



As doctors, you have a customised source of finance available to you in the form of a loan for doctors. Whether it is to take care of personal needs and improve your quality of life, or boost your business, you can rely on this source of finance to meet all your needs.

Why are loans for doctors a smarter choice?

Loans for doctors are designed specifically to meet the needs of medical practitioners. What makes a doctor loan in India special is the convenience of borrowing an ample sum of money without the hassle of extensive paperwork or submitting a long list of documents.‘Loan for doctors’ is a term used to describe a suite of four loans: personal loan, business loan, home loan and loan against property. Depending on the loan you choose, you can benefit from certain value-added services. Here’s more on each loan under this customised financing option:

Personal loan:

You can use this loan of Rs.30 lakh for any personal need, whether it is adding a terrace garden to your home or financing a wedding. It has a repayment tenor range from 12 to 96 months.
6 Reasons To Get Personal Loan For Doctors

Business loan:

You can use this loan to diversify or expand your business, or simply upgrade the medical equipment that you use regularly. This loan has an upper limit of Rs.30 lakh, and a repayment tenor range from 12 to 96 months.

Home loan:

Financing a home can be challenging, but not when you have this loan. It has simple eligibility criteria and gives you access to Rs.2 crore with a tenor of up to 240 months.
Additional Read: A Step By Step Guide On How To Apply For A Doctor Loan

Eligibility criteria and documents required:

Loans for doctors give medical professionals easy, hassle-free access to finance based on their medical credentials. You must be a practicing medical professional in India, with a regular source of income. The criteria that you have to fulfil are minimal, as is the list of documents that you have to submit. Take a look.

For loans against property and home loans:

Specialisation Eligibility
Super Specialist Doctors (MD/DM/MS/ FNB/DNB) Super Specialist Doctors (MD/DM/MS/ FNB/DNB)
Post Graduate Doctors (MBBS) Minimum 2 years of post-qualification experience
Ayurvedic and Homeopathic Doctors (BHMS/BAMS) Minimum 6 years of post-qualification experience & should own a house/clinic
Homeopathic Doctors (DHMS) Minimum 15 years of post-qualification experience

Doctor Loans - Everything You Wanted To Know

Specialisation Eligibility
Super Specialist Doctors (MD/DM/MS) Minimum 3 years of post-qualification experience
Graduate Doctors (MBBS) Minimum 3 years of post-qualification experience
Dentists (BDS/MDS) Minimum 5 years of post-qualification experience
Ayurvedic and Homeopathic Doctors: BHMS/BAMS Minimum 6 years of post-qualification experience
Homeopathic Doctors (DHMS) Minimum 15 years of post-qualification experience

Documents needed:

Generally, the following documents must be submitted along with the loan application. But, this list may vary slightly depending on your loan and/or your loan provider.
1. KYC documents
2. Medical Registration Certification
3. Bank statements
4. IT returns, balance sheet and profit and loss statements
5. Copy of property papers

 

 

Doctor Loan

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