Loan for Doctors

According to official reports, India is short of around 6 Lakh Doctor Loan to meet her healthcare necessities. While this data demonstrates a side of the narrative, another side is even more alarming. 

The public sector can cater to only 18% of outpatients in the country while the number goes up to 44% for inpatient facilities. Yet, the numbers are extremely shy of the required benchmarks which indicate the need for new and modern healthcare facilities.

The doctor loan in India usually has features which ensure ultimate convenience for medical practitioners. These advantages are offered by different NBFCs catering to all types of needs of a doctor. 

Nevertheless, there are a few restraints on such professional loans, which can be handled adequately if planned. 

Advantages of a doctor loan

These loan products, explicitly devised for doctors, are full of numerous benefits which cater to the different needs of medical practitioners. While multiple doctors loan India are providing to different types of financial obligations, the primary advantages of such loans are listed underneath. 

  • High loan value

While considering how doctors can invest to start their medical practice or upgrade their existing one, credit availability is a crucial factor. The high price of medical equipment and technology along with many other institutional necessities like space, staff, etc., demand substantial financing. Usually, NBFCs offer as high as Rs. 37 Lakh as doctors loan India to cater to all these necessities at economical interest rates.

  • Minimal requirements and fast processing

The documents needed to apply for a Bajaj Finserv Loan for Doctors are usually minimal. Unsecured loans can be availed through submission of KYC documents along with Medical Registration Certificate. Consequently, these loans are approved instantaneously, and within 24 hours, the amount is credited to a borrower’s account.

  • Flexibility on repayment

The flexible repayment tenor offered by financial institutions should also be checked. They range between 12 months and 36 months, essentially allowing medical practitioners to choose a convenient tenor which does not put them under financial pressure.

  • Prepayment facilities

Under this facility, doctors can pay a lump sum amount of funds to clear their credit account. Depending on the financial institution, there can be certain charges which are levied on this facility. Doctors should use a loan calculator to check their savings before applying for this facility.

Doctor Loan

Disadvantages of a doctor loan

Loan for doctors has very few pointers which can be considered as disadvantages. Such limitations of doctors loans in India listed underneath can be handled with ease if doctors plan in time.

  • Loan amount: The loan amount generally offered by financial institutions is not low and suffices the numerous expenses that a doctor has. Nevertheless, at Rs. 37 Lakh it can be limiting to some extent. Nonetheless, doctors can go for a top-up loan to fulfil their additional financial requirements.
  • Minimum experience requirements: The doctor loan eligibility criteria often require minimum experience of practice, depending on the qualification of a doctor. Accordingly, doctors should check their eligibility requirements and plan accordingly.

After going through the details of the advantages and disadvantages of these loans, medical practitioner deciding to apply for such a loan should check their doctor loan eligibility. Fulfilment of stipulated criteria makes a doctor eligible for such loans at affordable interest rates, as provided by major financial institutions such as Bajaj Finserv. 

They also provide pre-approved offers that make availing business loans for medical professionals quick and easy. Pre-approved offers are available on numerous financial products like doctor business loans, home loans, personal loans, etc.

While doctors loan India is tailor-made for medical practitioners, borrowers must compare the offers from different financial institutions so that they avail the most advantageous one.


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