The doctor loan is a specialized loan for Doctors and physicians. Doctor loan can also be called as a professional loan or physician loan. The loan can be availed by any kind of doctor like one working at a government hospital or the one with the self-owned clinic or the one working in a private hospital or clinic.
Some of the Purposes of a Doctor Loan-
For opening a new clinic.
For buying new equipment for the hospital or for a clinic.
If a doctor wants to special in a new field, he or she can also apply for the doctor loan.
If you have a clinical laboratory and want to expand it, you can avail doctor loan.
If you want to renew your clinic or hospital or adding more operation room, rest room, etc. For that you can avail the doctor loan.
For regular maintenance of the hospital.
For setting up a new pharmacy.
Some Facts and Criteria Regarding a Doctor Loan-
The age limit for applying for a doctor loan is 24 to 55 years.
The minimum loan amount for a doctor loan is INR Rs. 5,00,000 and the maximum amount can goes up to INR Rs. 1,50,00,000.
The loan tenure is flexible, from 3 years to 5 years.
The charges are usually nil for the pre-closure amount.
The rate of interest on Doctor Loans are usually high, but good part is that the loan gets passed with in a week’s time, in general situations.
Educational Qualification for Doctor Loan-
MBBS, BDS Graduate Doctors – Minimum 5 years of experience (Post qualification)
MD, DM, MS, MCH, MDS Post Graduate Doctors having Minimum 4 years of Experience (Post qualification)
Individual doctors employed with reputed Government or Private Hospitals in India
Self-employed doctors who own a hospital, a nursing home, a Clinic in India.
Consulting doctors with leading hospitals in metro cities in India.