Doctor Loan Features
| Doctor Loan Interest Rate | 11.25% onwards |
| Doctor Loan Processing Fee | Up to 2% of the loan amount |
| Doctor Loan Tenure | Up to 5 years |
| Doctor Loan Lowest EMI Per Lakh | ₹ 939 for 60 Months |
| Doctor Loan Prepayment Charges | Nil to up to 5% |
About Doctor Loan
A doctor loan is available to a professional individual to support them in reaching their goal of setting up a private clinic or hospital. One can consider a doctor loan if,
- You require immediate funds to cover the expenses for setting up a new clinic,
- You require to buy new medical equipment for your own clinic,
- You want to give a makeover to your clinic by renovating.
Purpose Of Doctor Loan
This loan is a multipurpose loan and thus is granted for many uses such as setting up a clinic or X-Ray Lab, buying new medical equipment, for expansion, renovation, or improvement of the existing clinic, and many more.
| Purposes For Which Loan Is Granted | Purposes For Which Loan Is Not Granted |
| Clinic/ hospital construction | Personal use |
| Clinic/hospital renovation | Land purchase |
| Medical equipment purchase | Wedding or vacation |
Please Note: It is up to the banks to specify the real purpose for which they will grant the loan.
Doctor Loan Benefits
Compared to general loans, a doctor loan is specifically for medical practitioners with medical qualifications and thus offer the following:
- High loan amounts
- Minimal documentation
- Doorstep services
- Quick approvals as well as disbursals.
- Required guarantors or collateral: None
- Loan tenure as long as 5 years
- One can choose from fixed and floating interest rate
- Flexible repayment options
Types Of Doctor Loan
Secured Loan
This loan is a mortgage type loan and can be availed by salaried and self-employed medical practitioners against their property. Usually, banks and NFBCs offer this loan against the mortgage of either a residential or commercial property of the applicant willing to buy medical equipment, to set up a medical clinic or nursing home. A secured loan can also be availed to purchase ambulances (registered with Road Transport Operator).
| Secured Doctor Loan Key Features | |
| Loan Available Against | mortgage of available residential or commercial property |
| Loan Amount | From ₹ 50,000 up to ₹ 8 Cr |
| Loan tenure | 12 to 84 Months |
| Interest Rate | Starting from 7.75% |
Unsecured Loan
Unsecured doctor’s Loan is fast and quick loans as these loans do not require any collateral security and thus are for short tenure only. The applicant can opt for an unsecured loan to upgrade medical equipment or instruments which can help in improve better diagnosis and treatment.
| Unsecured Doctor Loan Key Features | |
| Loan Available Against | No Collateral Required |
| Loan Amount | up to ₹ 1 Cr and above |
| Loan tenure | 1 to 3 years |
| Interest Rate | Starting from 13.50% |
Things to consider before taking an unsecured doctor loan
If the applicant is opting for an unsecured doctor loan he or she should determine the bank’s set of policies before sanctioning a loan. It is highly advisable to check and clear the eligibility criteria. The bank may reject the loan application if:
- The applicant has a lower credit score than the required score which is 750. A credit score above 750 increases the chances of loan approval with a lower interest rate.
- The applicant has filled multiple loan applications at once, it increases the probability of loan rejection as each entry is recorded in the applicant’s CIBIL report.
- The applicant’s practice is new and has a loss-making nature at the start, then the chances of your application getting approved are reduced.
- The applicant has not determined the repayment capacity, a loan amount higher than the eligibility may create unwanted doubts.
- The applicant has not prepared and maintained a proper set of business accounts and finances.
Medical Equipment Loan
Medical Equipment loans are also available to the applicant against the hypothecation of equipment purchased.
The following are some of the medical equipment for with the loan can be availed:
- X-Ray Machines
- Sonography Machines
- MRI Machines
- CT Scanners
Doctor Loan Interest Rate Top 10 Banks
| Bank | Doctor Loan Interest Rates | Lowest EMI Per Rs. Lakh For Max Tenure |
| SBI Doctor Loan | 11.20% | ₹ 938 for 48 Months |
| HDFC Bank Doctor Loan | 11.25% | ₹ 939 for 60 Months |
| Private Bank Doctor Loan | 12.99% | ₹ 1,083 for 60 Months |
| PNB | 11.60% | ₹ 968 for 60 Months |
| Bajaj Finserv | 13.00% | ₹ 1,086 for 48 Months |
| Bank of Baroda | 10.85% | ₹ 904 for 84 Months |
| Bank of India | 10.95% | ₹ 913 for 84 Months |
| Corporation Bank | 10.95% | ₹ 913 for 84 Months |
| Central Bank of India | 10.85% | ₹ 904 for 84 Months |
| Union Bank of India | 12.00% | ₹ 1,000 for 84 Months |
Doctor Loan Eligibility Criteria
You can apply for a doctor loan if you meet all of the required criteria mentioned below:
| Eligibility Criteria for Doctor Loan | |
| Eligible Entities | Salaried doctors |
| Self-employed doctors who are sole proprietors, partnership firms, private limited companies, public limited companies | |
| Minimum and Maximum Age | Individuals with a minimum age of 21 years and maximum age of up to 68 years |
| Loan Tenure | Banks give loan up to a period of 5 years depending upon your age* |
| Processing Fee | Up to 2% of loan amount + applicable tax |
| Minimum Qualification | BHMS/BUMS degree to qualify for a loan |
| Must have 5 years and more experience to get a professional loan** | |
| Business Existence | A minimum business vintage of 3 years*** |
| CIBIL Score Requirement | Bank consider 750 and above credit score eligible for doctor loan**** |
*Note: However, some banks also restrict the maximum tenure to 3 years
**Note: Applicants should have an IMA (Indian Medical Association) membership number or any other registration allowed by the Indian Government
***Note: Some banks give loan to those who have business existence for 5 Years
****Note: In case of a low CIBIL score, you can be eligible from a few banks or NBFCs with some additional conditions like higher in
Degrees required to apply for Doctor Loan
To apply for a doctor loan, the following set of degrees are required:
- Super Specialist Doctors (MD/DM/MS) for Super Specialist Doctors
- Graduate doctors (MBBS) for Graduate Doctors
- (BDS/MDS) for Dentist Doctors
- (BHMS/BAMS) for Ayurvedic and Homeopathic Doctors
- (DHMS) for Homeopathic Doctors
Entities eligible to apply for Doctor Loan
The following are eligible entities:
- Salaried Doctors
- Self Employed Doctors (who are operating as a sole proprietorship firm, partnership firm, public limited or private limited company)
Types of Entities eligible for Doctor Loans
Banks and finance companies offer doctor loan to different categories of doctors from the following:
- Loan for Salaried Doctors: Available to medical practitioners who have a regular source of income and a minimum qualification of 5 years.
- Loan for Self Employed Doctors: Available to doctors who have their own practice and are willing to expand their medical clinic or hospital.
- Loans for hospitals and nursing homes: Available to medical practitioners who want to set up a new medical clinic/hospital/ nursing home or want to renovate their existing hospital premise.
- Loans for Diagnostic centres and Pathological laboratories: Available to doctors who want to set up their diagnostic centres and pathological laboratories.
- Loans for Specialised clinics: Available to doctors who wants to set up specialized clinics which include Skin, Dental, and Eye Clinic
Home Loan For Doctors: Features & Benefits
This type of loan is fast and effective, one can avail up to Rs. 2 crores of the loan amount with approval in just 24 hours. Fast benefits like balance transfer, property search services, and doorstep service.
Eligibility criteria
| Easy to Meet Eligibility Criteria for Home Loan for Doctors | |
| Super-specialist doctors (MS/MD/DM) | Minimum 3 years of post-qualification experience required |
| Graduate Doctors (MBBS) | Minimum 3 years of post-qualification experience required |
| Dentists (BDS/MDS) | Minimum 5 years of post-qualification experience required |
| Ayurvedic and Homeopathic Doctors: BHMS/BAMS | Minimum 6 years of post-qualification experience required and must own a house or clinic |
| Homoeopathic Doctors: DHMS | Minimum 6 years of post-qualification experience required and must own a house or clinic |
Documents required
The following documents are needed to apply for Home Loan for Doctors:
- Medical registration certification
- KYC of authorized signatories
- Income Tax returns, balance sheet, and P/L account statements for the previous 2 years
- Copy of property papers of the house to be mortgaged
Fees and charges
| Types of Fees | Applicable Charges |
| Interest Rate | 8.5-9% |
| Processing Fees | Up to 1% |
| Loan statement Charges | NIL |
| Interest and Principal Statement Charges | NIL |
| Penal Interest | 2% per Month |
| Part-prepayment Charges | NIL |
| EMI Bounce Charges | Rs. 2500 per Bounce |
Business Loan For Doctors: Features & Benefits
This type of loan is aim at the growth of the practice. It is fast and hassle-free and mainly customizes to cover the expenses incurred by purchasing the latest medical equipment and software, to training your staff on new procedures.
Business Loan for Doctors Eligibility criteria
| Easy to Meet Eligibility Criteria for Business Loan for Doctors | |
| Super-specialist doctors (MS/MD/DM) | No Minimum of post-qualification experience required |
| Graduate Doctors (MBBS) | Minimum 2 years of post-qualification experience required |
| Dentists (BDS/MDS) | Minimum 5 years of post-qualification experience required |
| Ayurvedic and Homeopathic Doctors: BHMS/BAMS | Minimum 6 years of post-qualification experience required and must own a house or clinic |
| Homoeopathic Doctors: DHMS | Minimum 15 years of post-qualification experience required and must own a house or clinic |
Business Loan for Doctors Documents required
The following documents are needed to apply for Home Loan for Doctors:
- Medical registration certification
- KYC of authorized signatories
Fees and charges
| Types of Fees | Applicable Charges |
| Interest Rate | 14-16% |
| Processing Fees | Up to 2% |
| Loan statement Charges | NIL |
| Interest and Principal Statement Charges | NIL |
| Penal Interest | 2% per Month |
| Part-prepayment Charges | NIL |
| EMI Bounce Charges | Rs. 1000 per Bounce |
Loan against Property For Doctors: Features & Benefits
This type of loan is fast and effective, one can avail up to Rs. 2 crores of the loan amount with approval in just 24 hours. Fast benefits like balance transfer, property search services, and doorstep service. Covers expenses from equipping your new nursing home, to expanding your clinic space, or refinancing your existing Home Loan.
Loan against Property for Doctors Eligibility criteria
| Easy to Meet Eligibility Criteria for Loan Against Property for Doctors | |
| Super-specialist doctors (MS/MD/DM) | Minimum 2 years of post-qualification experience required |
| Graduate Doctors (MBBS) | Minimum 3 years of post-qualification experience required |
| Dentists (BDS/MDS) | Minimum 5 years of post-qualification experience required |
| Ayurvedic and Homeopathic Doctors: BHMS/BAMS | Minimum 5 years of post-qualification experience required and must own a house or clinic |
| Homoeopathic Doctors: DHMS | Minimum 15 years of post-qualification experience required and must own a house or clinic |
Loan against Property for Doctors Documents required
The following documents are needed to apply for Home Loan for Doctors:
- Medical registration certification
- KYC of authorized signatories
- Income Tax returns, balance sheet, and P/L account statements for the previous 2 years
- Copy of property papers of the house to be mortgaged
Fees and charges
| Types of Fees | Applicable Charges |
| Interest Rate | 12% p.a. onwards |
| Processing Fees | Up to 2% |
| DOCUMENT/STATEMENT CHARGES Statement of Account/ Repayment Schedule/Foreclosure Letter/No Dues Certificate/Interest Certificate/List of documents | Download your e-statements/letters/certificates at no extra cost by logging into Customer Portal – Experia. You can get a physical copy of your statements/letters/certificates/List of Documents from any of our branches at a charge of Rs. 50/- (Inclusive of Applicable taxes) per statement/letter/certificate. |
| Document Processing Charges | Rs. 2000 + Tax |
| Penal Interest | 2% per Month |
| Property Insight | Rs. 6999 inclusive of all taxes |
| EMI Bounce Charges | Rs. 2000 per Bounce |
Annual Maintenance Charges
| Details | Charges |
| Flexi Term Loan | 0.25% of the current Flexi Term Loan amount + Applicable taxes (as per the repayment schedule) on the date of levy of such charges |
| Flexi Dropline Loan | 0.5% of the loan amount + Applicable taxes during initial tenure. 0.25% of the current Flexi Term Loan amount + Applicable taxes during Subsequent Tenure |
Full Pre-Payment (Foreclosure) Charges
| Loan Variant | Applicable Charges |
| Loan (Term Loan/Advance EMI/ Step-Up Structured Monthly Instalment/ Step-Down Structured Monthly Instalment) | Loan foreclosed before 12 months from the date of the sanction of the loan – 6% + applicable taxes on the outstanding loan amount payable by the Borrower on the date of such full Pre-Payment. |
| Loan foreclosed after 12 months from the date of the sanction of the loan – 4% + applicable taxes on the outstanding loan amount payable by the Borrower on the date of such full Pre-Payment. | |
| Flexi Term Loan | Loan foreclosed before 12 months from the date of the sanction of the loan – 6% + applicable taxes of the Total Withdrawable Amount as per the repayment schedule, on the date of such full Pre-Payment. |
| Loan foreclosed after 12 months from the date of the sanction of the loan – 4% + applicable taxes of the Total Withdrawable Amount as per the repayment schedule, on the date of such full Pre-Payment. | |
| Flexi Hybrid Loan | Loan foreclosed before 12 months from the date of the sanction of the loan – 6% + applicable taxes of the Total Withdrawable Amount as per the repayment schedule, on the date of such full Pre-Payment. |
| Loan foreclosed after 12 months from the date of the sanction of the loan – 4% + applicable taxes of the Total Withdrawable Amount as per the repayment schedule, on the date of such full Pre-Payment |
Part-Prepayment Charges
| Borrower Type | Time Period | Part-Prepayment Charges |
|---|---|---|
| Not applicable if the Borrower is an Individual and the Loan is availed on the floating interest rate and not applicable for Flexi Term Loan/Hybrid Flexi variant | More than 1 month from the date of loan disbursal. | 2% + applicable taxes on part-payment amount paid. |
Doctor Loan Documents Required
The following documents are by the applicant who is salaried or self-employed to apply for a Doctor loan
- Signed Application Form
- Education Qualification Certificate
- Identity Proof (PAN)
- Residential Address Proof
- Latest 6 months salary slip for salaried
- Last 6 months bank statement
- Last 2 years ITR
- Copy of Memorandum of Association (MOA) (for Private Limited Company) or Copy of Partnership Deed (for a Partnership Firm)
- Original hypothecated Invoice in case of Medical Equipment Finance Loans
- Insurance Policy duly endorsed in favour of the bank for the assets given as security to the bank
Additional Documents required for Salaried and Professional Doctors
| For Salaried Doctors | For Self Employed/Professionals Doctors |
|---|---|
| Filled Application form | Filled Application form |
| Identity Proof (PAN CARD) | Identity Proof |
| Qualification Proof | Address Proof |
| Own house proof | Qualification Proof |
| Latest 3 months Payslips | Last 2 years Income Tax Returns |
| 2 Passport Size Color Photographs | Professional/Self-employed existence proof for more than 3 years |
| Address proof | 2 Passport Size Color Photographs |
| 6 months Bank Statements | 6 months Bank Statements |
How To Apply for Doctor Loan
- To apply for a Doctor Loan, please visit Dialabank online.
- Navigate to the specific Doctor loan page
- Please check all the eligibility criteria to make sure you can apply.
- Fill a user-friendly Doctor Loan application form.
- Bear with us as a relationship manager will soon get in touch with you.
Doctor Loan EMI Calculator
You can easily calculate your EMIs with Dialabank’s EMI Calculator:
CIBIL Score Required For Doctor Loan
A minimum CIBIL score of 750 and above is considered by most banks and financial institutions for a home loan.
Maintaining a good CIBIL score is a good practice as every financial institution strictly examine the detailed behaviour of the previous loans taken. This includes details on the type of loan taken and the loan amount you have borrowed. Any late payments for previous loans can act as a barrier to your availing a fresh loan.
Check your CIBIL score in your credit report for more information on the score.
Doctor Loan Agent/Broker
One of the major and best agents of Doctor Loan is Dialabank. Having vast experience in the field put an advantage. Dialabank has worked with thousands of loan seekers and has successfully delivered what is agreed upon!
You can visit Dialabank online for information on Doctor Loan
Doctor Loan Contact Number
You can contact us by dialling 9878981166 to get more information about Doctor loans and we will give you the best advice to help you fulfil your dreams.
Doctor Loan FAQ
✅ Why do I need a loan for doctors, how does it work?
This loan is usually taken to set up your own clinic/ hospital. You can easily get this loan from various banks but it is very important to apply with a good CIBIL score and also make sure to repay back all your loan dues on time to maintain your credit score.
✅ Do banks offer pre-approved loans for doctors?
Definitely!, few banks provide pre-approved loans for doctors, but it depends on a number of factors like their existing bank account, CIBIL score, income level, etc.
✅ How do I repay my loan for doctors?
You pay the loan in equal monthly instalments (EMIs). The loan will be paid through post-dated cheques. You can also opt for a flexible repayment tenure
✅ Is CIBIL Score important for availing loans for doctors?
CIBIL score is very important for availing this loan. You must have a Good CIBIL score which is anything above 750 as well as a good credit history with no defaults occurred.
