Here’s Everything You Need to Know About Doctor Loan.

By Wednesday, October 11, 2017 0 No tags Permalink

What is a Doctor Loan?

A doctor Loan is a special kind of customized loan meant for doctors and professional physicians. Any type of working doctor can avail this loan like those who own a clinic or working in a government hospital or in a private clinic, etc. A doctor loan can be used to meet the financial requirements of doctor who is looking to expand their facility or even serve their personal affairs. The loan amount can vary from 5 lacs to 75 lacs.

Criteria for Application of a Doctor Loan.

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Personal loan for doctors is given to doctors depending on their qualifications, annual income, experience, profit making and the age of the applicant. So basically a doctor should be well balanced, then only you can apply for a doctor loan in India. There are different banks which provide pretty good deals and offers in terms of low rate of interest and other small term benefits. There are various vendors also which simplify the process by filling an application form online. The rate of interest rate is charged is usually floating rate of interest. The age limit for applying for the loan is 26 to 60 years. Following people are eligible for a 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.
  • Hospitals in form of Proprietorship/Partnership and Private Limited companies

Let’s see some of the advantages and some of the disadvantages of having a doctor loan.

There are different aspects of taking a Physician loan like Processing fees, secure fees, EMI balance and other miscellaneous charges.


  • Zero to No down Payment is needed.
  • Availability is high and can be easily sanctioned within a week.
  • Since the amount of the loan is small, there is no collateral ask from the bank.


  • Minimum age for applying for the doctor loan is 26, so young doctors cannot apply for it.
  • In case of early re-payments, bank can charge you a hefty penalty.

The rate of interest charged can be high as opposed to other type of loans.

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