Must-Know: Best 3 Personal loan for doctors in India 2021

personal loan for doctors in India 2021 | If you are a doctor and want to start out your own clinic but holding yourself back because of the lack of funds then no more! All you are need is to simply reach your bank and request a loan for your new clinic, often called a Personal Loan for Doctors in India 2021. 

If you’re a licensed medical individual then you do not need to worry about finance. There are a variety of special personal loan schemes that are meant exclusively for doctors. 

At Afinoz, you can compare personal loan for doctors in India 2021 across top banks and NBFCs. Below we have talked about the top 3 schemes, consequently, you’ll be able to decide the Best Personal Loan in India for doctors! Let’s figure it out now! 

1. SBI Personal loan for doctors in India 2021

• The SBI doctor plus loan scheme stands out to be the best personal loan in India for qualified medical practitioners. 
• The certain doctor loan scheme is more suitable for those who have freshly turned doctors with entrepreneurial skills and mind-set. 
• Although, it’s meant only for a certified medical person. 
• The bank extends makes the fastest disbursal. 

Features and benefits – State Bank of India Doctor loan 2021 

• Medical equipment such as dental implants, implants for the knee, spine, hip, or shoulder can be financed. 
• Establishing a new home, drug store, clinic, pathological lab, x-ray lab, etc. can be financed. 
• Vehicles such as ambulances and goods carriers can be financed. 
• Additionally, finance can be availed for renovation, expansion, and modernization. 
• The loan amount can be availed of up to Rs. 5 crores. 

Eligible Entities – State Bank of India Doctor loan 2021 

• Registered individuals 
• Registered corporates 
• Registered partnerships 
• Registered trusts 

All of them must have a minimum qualification of BAMS, BDS, MBBS, GAMS, or BHMS. The core promoters of the firms got to be qualified doctors. 

2. Bank of Baroda personal loan for doctors in India 2021

• Bank of Baroda personal loan for doctors in India 2021 is an exclusive loan scheme that is extended only to satisfy the financial needs of registered medical practitioners. 
• The bank provides loans to the medical practitioners for revamping or broadening their hospital, pathological lab, nursing home, or clinic. 
• The loan can be taken out in any form, that is to say, capital, term loan, or overdraft. 

Features and Benefits – Bank of Baroda Doctor loan 2021 

A personal loan for doctor from the Bank of Baroda can be availed for the purpose of setting up or developing of the clinics, labs, nursing homes, or clinics cum residential places. To comprehend seamlessly, the loan amount can be taken out for the following reasons: 

• Purchasing of medical equipment and diagnostic tools. 
• Set up of operation theatre. 
• Purchasing of medical purpose vehicles such as ambulance, goods carrier, car, etc. 
• Purchasing of office equipment such as ACs, computers, furniture, etc. 
• Expanding or renovating the prevailing clinic, hospital, or home cum medical hub. 

3. Bank of India personal loan for doctors in India 2021

• A personal loan for doctors in India 2021 from the Bank of India can be availed for fixing new X-ray labs, nursing homes, clinics, or pathological labs. 
• Even though, the loan can also be availed for the purpose of repairing and renovation, expansion or modernization of prevailing medical premises. 
• You can also avail of the loan amount for the purchasing of office equipment, ambulances, and similar things. 
• Medicine and disposables can also be financed in the sort of capital. 

Eligibility – Bank of India Doctor loan 2021 

To get the Bank of India personal loan for doctors in India 2021, the following key eligibility requirements are required to be fulfilled: 

• Besides individuals, companies, trusts and partnerships can also apply for doctor loan from the bank. 
• The applicant must be qualified from a recognized institute in any of the life science branches that is to say MBBS, BDS, BHMS, BAMS, Physiotherapy, Radiology, etc. 
• In addition to this, the applicant also must possess a minimum of practical experience within the concerned field. 

Experience/Qualification Requirements – Bank of India Doctor loan 2021

Following are the experience and qualification requirements of the bank so as to ensure the borrower’s creditworthiness: 

• Individuals – If you are an individual, then you must be qualified and registered as a medical person having a minimum experience which is required to line up a hospital, home, or clinic.
• Company – If you are applying as a company, then a minimum of half the employed directors or promoters got to be qualified and registered as medical practitioners.
• Trusts – If you are applying as a trust, then you must be registered and must possess an influence to borrow. A minimum of one trustee must possess qualifications and eligibility as to that of a person.
• Partnerships – If you are applying as a partnership entity, then a minimum of 50% of the partners should be qualified and registered as medical practitioners. 

The Out-Turn 

To conclude, if you’re willing to avail of the best personal loan in India as a doctor, you can choose any of the aforementioned loan schemes, if you meet the eligibility criteria. Yet, we still highly recommend not to choose any certain offer before studying your exact requirements and assessing your creditworthiness. 

Moreover, download Afinoz instant personal loan app today from the Play Store to grab the best personal loan deal in the market.