Personal Loan for Medical Folks

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Personal Loan for Medical Folks
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Loan for Medical Folks

• Personal Loans for doctors is commonly known as
  doctor loan or medical loan.
• It is meant to help the doctors in fulfilling
  their dreams, such as setting up their clinics or
  hospitals.
• This loan can be avail for the purchase of
• costly medical equipment,
• lab equipment,
• buying ambulances,
• office equipment's like computers,
• setting up a new X-Ray lab,
• renovating the existing medical clinic or
  establishment.

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Eligibility Criteria

• Purpose Any medical doctor can avail these loans
  if-
• He/She does not have sufficient funds for
  establishing a clinic or hospital.
• He/She wants to buy some costly medical equipment
  for his/her existing clinic or hospital.
• He/She is looking to expand or renovate his/her
  existing clinic or hospital.
• Educational qualifications needed for a medical
  doctor
• MBBS for Graduate Doctors.
• MD/MS/DM for Super Specialist Doctors.
• BHMS/BAMS/DHMS for Ayurvedic and Homeopathic
  Doctors.
• BDS/MDS for Dentists.
• Work Experience
• Any salaried doctor can avail such a medical
  loan.
• For a self-employed doctor, he/she should be
  functioning either as a sole proprietorship firm,
  partnership firm, or a public/private limited
  company.

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Popular Doctor Loans offered by various Banks
NBFCs in India

1. SBI Doctor Plus
2. Bajaj Finserv Doctor Loan
3. Canara Bank Doctors Choice
4. Bank of India Personal Loan for Doctors
5. Bank of Baroda Doctor Loan
6. PNB Sanjeevani Personal Loan for Doctors
7. Allahabad Bank Personal Loan for Doctors

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Summary

• Doctor Loans have evolved as a big aid for
  medical practitioners with entrepreneurial
  ambitions.
• Personal Loans for doctors are much better
  options when compared to medical
  insurance schemes.
• A lot of formalities are needed to
  fulfill medical insurance claims, which delays
  the release of funds considerably.
• On the contrary, medical loans are variants of
  personal loans.
• These funds can be availed in a quick and
  hassle-free manner.

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