DOCTOR LOAN

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LOAN FOR DOCTORS/ MEDICAL PRACTITIONERS

Doctor loans are available for professional doctors to help them fulfill their dream to set up their own medical clinic or hospital.You should consider this loan if,

You do not have immediate funds available to bear the expenses for setting up a clinic.
You want to buy new clinical equipments for your medical clinic.
You want to renovate/improve your clinic.

Some of the basic purposes for which this loan is granted include to set up a clinic or X-Ray Lab, buying new clinical equipments or for expansion, renovation, or improvement of existing clinic and many more. Banks specify the purpose for which they are willing to grant this loan.

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

DOCTOR LOAN BENEFITS

No requirement of guarantors or collateral.
Fast turnaround with loan approval in as quick as a few hours.
Low interest rates compared to rates offered to other self employed professionals.
End use can include construction of clinic, renovation or purchasing various equipment for medical use.
Loan tenure can be as long as 5 years.
Option of fixed and floating interest rate.
Flexible repayment tenure options available.

WHAT IS THE NEED FOR A DOCTOR LOAN?

Doctor can avail this Loan to fulfil their short term capital fund or business expansion.

WHO ARE ELIGIBLE FOR A DOCTOR LOAN?

The general factors taken into account while determining the Doctor Loan are listed below:<br>Age (Min. 21 Year)<br>Maximum 58 age at time of closure of the loan for the salaried<br>Maximum 65 age at time of closure of the loan for the self employedTotal work / business Experience 3 yrs<br>Indian resident

HOW MUCH AMOUNT I BORROW?

It mainly depends on your financial profile, credit reputation, the purpose of borrowing the loan and your loan repayment ability. Lenders evaluate these factors to consider what the amount of a Loan should be.