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Loan for Doctors

Loan for Doctors

Last Updated 10th May 2021

Interest Rate 12.50% onwards
Processing Fee Upto 2% of loan amount
Loan Tenure Upto 5 years
Lowest EMI Per Lakh ₹ 939 for 60 Months
Prepayment Charges Nil to upto 5%
  • Check Best Offers starting @ 12.50%
  • Compare and get best offers for professional loan for doctors for both salaried and self employed
  • Personal loan for doctor's eligibility depends upon income/salary, and capacity to repay the loan
  • Avail this loan for buying medical equipments, setting up diagnostics labs and clinics
Apply for Doctor Loan @ 11.25%*

Doctor Loan

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

Purpose of Doctor Loan

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 Loans can be further classified into three categories: Secured Doctor Loan, Medical Equipment Loan and Unsecured Doctor Loan

Secured Doctor Loan

This is a mortgage loan which can be availed by both salaried and self employed doctors against the mortgage of their property. Banks and financial institutions offer this loan against the mortgage of a residential or commercial property to set up a medical clinic, nursing home or to buy medical equipments. Medical Equipment loans are also available against the hypothecation of equipment purchased. Secured loans are also available to purchase ambulances, which have to be registered with RTA (Road Transport Opeartor) and hypothecated in the name of the bank. The loan amount depends on the type of property and the market value of the property of the property as assessed by the bank. Key features of these loans are:

  • Loan against mortgage of residential or commercial property available
  • Loan amount of ₹ 50,000 to ₹ 15 Cr can be availed
  • Loan tenure of 12 to 96
  • Interest rates starting from 7.20%

Medical Equipment that can be financed

Some of the medical equipment for which loans can be availed include

  • CT Scanners
  • Sonography Machines
  • MRI Machines
  • X-Ray Machines

Unsecured Doctor Loan

Unsecured loans can be availed without pledging any collateral security. These loans are quick loans and can be availed for a shorter tenure. Beside enhancing your business, you can also take this loan to upgrade your medical equipments or instruments to offer the best possible diagnosis and treatment to the patients. Many banks and finance companies in India offer specially designed and customised unsecured business loans to doctors on the basis of their financial statements, work experience and CIBIL score. Key features of these loans are:

  • Loans can be taken without pledging any property as a collateral security
  • Loan amount of ₹ 1 Cr and above can be availed
  • Loan tenure may range from 1 year to 3 years
  • Interest rates starting from 13.50%

To know more about business loans and its eligibility, click below

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
  • Minimum documentation with approval based on basic KYC, quick background checks, CIBIL score and income proofs
Tips to consider before taking unsecured Doctor Loan

The following tips will help you get best doctor loan:

Doctor loans are secured as well as unsecured in nature. In case of unsecured doctor loans, banks usually follow their own set of policies before sanctioning a loan. If the medical practitioner does not fulfil the eligibility criteria of the bank, the bank may reject his/her loan application. There are few tips which will help you to improve your chances of getting your loan application improved.

Improve Credit Score – It is very important to check and calculate your credit score before applying for this loan. It is important to consider because having a lower credit score may increase the chances of getting your loan application rejected by the lender. Whereas, a higher credit score above 750 increases the chances of getting your loan approval with a lower interest rate.

Avoid multiple loan applications – Sometimes, a customer applies for a loan with multiple number of banks to improve their chance of getting a loan on time. However, applying for multiple loan applications increases the probability of the loan being rejected as each query gets captured in your credit report and multiple queries can adversely impact your CIBIL score.

Choose your Bank wisely – Many banks and finance companies offer professional loan schemes at an attractive rate of interest. So, before taking this loan, you are advised to do a thorough research that are offering best rates on doctor loan. You should strive to idenitfy the bank which offers fast service with low interest rate. In some cases, you may opt for banks which offer high eligibility at higher interest rates, if you have a higher loan amount requirement.You should also evaluate your ability to service quantum of loan repayments from your monthly cash flows. Negotiate and apply for a loan through online market places to get best deals on rates and processing fee.

Business Existence – Banks will consider giving a loan to doctors with minimum 3 years of practising experience either as a salaried or a self practioner. If your practice is new and loss making, then the chances of your application getting approved is reduced.

Apply for a loan amount based on your repayment capacity – Determine the loan amount that you can easily repay in future. If you apply for a loan amount which is higher than your eligibility, it can create doubt in the mind of lender and lead to rejection of your application. So, make sure you choose the correct loan amount that you can comfortably service. The assessment of monthly repayment capacity is even more important for self employed doctors as it is difficult to assess the minimum monthly income which can be fairly fluctuating.

Maintain proper accounts and financial information- It is extremely critical that you have your GST registration in place. Also, it is advisable to keep audited record of your financial statements, as the same are an important set of documents referred to by the bank at the time of calculating your eligibility. Ensure that you receive and deposit your fees into your bank account and also make payment through bank accounts as it allows the lenders to get a real understanding of your monthly inflow and outflows. In summary, try and reduce the level of cash transactions in your practice. Lenders will scrutinise the bank statements of self employed doctors before taking a decision to lend.

Regularly check your CIBIL Score - A good CIBIL Score is very important to qualfiy a loan for doctors from the bank. Generally, banks consider a CIBIL Score of 750 and above to get this loan. So, it is advised to access your credit score report on a regular basis and do regular timely corrections in your report in case you borrow frequently from the banks.

Doctor Loan Eligibility Check

You may be eligible for medical loan in India from one or more banks if you meet the following eligibility conditions:

Eligibility Criteria
Eligible Entities Salaried doctors
Self employed doctors who are sole proprietors, partnership firms, private limited companies, public limited companies
Minimum and Maximum Age Individuals with minimum age of 21 years and maximum age of upto 84 years
Loan Tenure Banks give loan upto a period of 5 years depending upon your age
Note: However, some banks also restrict the maximum tenure to 3 years
Processing Fees Upto 2% of loan amount + applicable tax
Minimum Qualification BHMS/BUMS degree to qualify a loan
Must have 5 years and more experience to get a professional loan
Note: Applicants should have an IMA (Indian Medical Association) membership number or any other registration allowed by Indian Government
Business Existence Minimum business vintage of 3 years
Note: Some banks give loan to those who have business existence for 5 Years
CIBIL Score Requirement Bank consider 750 and above credit score eligible for doctor loan
Note: In case of low CIBIL score, you can be eligible from few banks or NBFCs with some additional conditions like higher in
Degrees required to apply for Doctor Loan

The following set of degrees are required to apply for loan for doctors

  • Super Specialist Doctors (MD/DM/MS) for Super Specialist Doctors
  • Graduate doctors (MBBS) for Graduate Doctors
  • (BDS/MDS) for Dentist Doctors
  • (BHMS/BAMS) for Ayurvedic and Homeopathic Doctors
  • (DHMS) for Homeopathic Doctors
Entities eligible to apply for Doctor Loan

The following set of entities are eligible to apply for these loans which includes the following:

  • Salaried Doctors
  • Self Employed Doctors operating as sole properitorship firm, partnership firm, publice limited or private limited company
Types of Entities eligible for Doctor Loans

Banks and finance companies offer this loan to multiple categories of doctors which includes the following:

  • Loan for Salaried Doctors: The loans are taken by those medical practitioners who have a regular source of income along with a minimum qualification of 5 years.
  • Loan for Self Employed Doctors: These loans are taken by those doctors who have their own practice and they intend to expand their medical clinic or hospital.
  • Loans for hospital and nursing homes: These loans are given to those who want to set up a new medical clinic/hospital/ nursing homes or want to renovate their existing hospital premise.
  • Loans for Diagnostic centres and Pathological laboratories: These loans are sanctioned to those doctors who wants to set up their diagnostic centres and pathological laboratories
  • Loans for Specialised clinics: These loans are taken by the practising doctors to set up specialised clinics which includes the following
    • Skin Clinics
    • Dental Clinics
    • Eye Centres

Apply for Doctor Loan

Documents required

  • Signed Application Form
  • Education Qualification Certificate
  • Identity Proof (PAN)
  • Residential Address Proof
  • Latest 6 months salary slip for salaried
  • Last 6 months bank statement
  • Last 2 years ITR
  • Copy of Memorandum of Association (MOA) for Private Limited Company or Copy of Partnership Deed for a Partnership Firm
  • Original hypothecated Invoice in case of Medical Equipment Finance Loans
  • Insurance Policy duly endorsed in favour of the bank for the assets given as security to the bank
For Salaried Persons For Self Employed/Professionals
Filled Application form Filled Application form
Identity Proof (PAN CARD) Identity Proof
Qualification Proof Address Proof
Own house proof Qualification Proof
Latest 3 months Pay- slips Last 2 years Income Tax Returns
2 Passport Size color Photographs Professional/Self employed existence proof for more than 3 years
Address proof 2 Passport Size color Photographs
6 months Bank Statements 6 months Bank Statements


Why do I need loan for doctors?

This loan is usually taken to set up your own clinic/ hospital. Generally the purpose of this loan is to set up a clinic/hospital, X-Ray lab or a diagnostic centre etc. You can get this loan from various banks but with a good CIBIL score and also make sure to repay back all your loan dues on time to maitain your credit score.

How can I apply for professional loan for doctors?

You can apply in several ways. You can directly visit the bank branch and meet the sales person, contact a loan agent or apply online at any bank or NBFC’s website. You can also compare best interest rates of all banks online to apply for this loan.

What are the eligibility requirements for availing a loan for doctors?

The following eligibility criteria is required to take a professional loan:

  • Qualification should be MBBS, BAMS, BHMS, and other higher professional degree
  • Minimum of 3-5 years of continued occupancy at your present residence/ office
  • Minimum experience of 3 years in running a healthcare business
  • Repayment track records in serving any loan for at least 12 months

What are the documentation requirements for availing loan for doctors?

In order to avail this loan you have to submit following documents:

  • Education qualification certificate
  • Bank statement for last 6 months
  • Income tax return certificate of last 2 years
  • Proof of permanent address, identity
  • Collateral security and guarantor depending on the loan amount

Is CIBIL Score important for availing loan for doctors?

CIBIL score is very important for availing this loan. You must have a Good CIBIL score in order to avail a loan for doctors. As it indicates good repayment record and hence banks can offer you higher loan amount at low rate of interest. Bad CIBIL Score will result in either loan at higher interest rate or rejecting the loan application.

Do banks offer pre-approved loans for doctors?

Yes, few banks provide pre-approved loan for doctors, but it depends on the number of factors like their existing bank account, CIBIL score, income level etc.

What are the end uses of loan for doctors?

Loan amount can be used for various purposes such as:

  • Buying clinical and electronic equipments, IT systems, diagnostic products
  • Purchase of ambulance
  • Development of clinic/ hospital such as buying patient bed, maternity bed, stretchers, operation theatre, ICU etc
  • Day to day expenses and many others

How do I repay my loan for doctors?

You pay the loan in equal monthly installments (EMIs). The loan will be paid through post-dated cheques. You may also pay your loan through the Electronic Clearing System (ECS) or a standing instruction to debit your Bank account with the EMI amount.

Which banks in India offer specialized loan for doctors?

Although most of the banks offer loans for Doctor, there are few lending institutions offering specialized loans as follows:

  • Canara Bank : Doctor Choice
  • Corporation Bank : Doctor Plus Scheme
  • Bank of India : Star Doctor Plus
  • Bank of Baroda : Baroda Loan to Doctor
  • Punjab National Bank : PNB Sanjeevani Scheme

What are the charges of availing loans for doctors?

Apart from the interest rate, banks also apply following charges:
Processing fees : This fees is charged when you apply for a loan. The processing fee can range between 0.50% - 2.50% of the loan amount and can be negotiated down, if you bargain. If you approach the bank through an online market place like, we will help in negotiating with the bank and also, offer attractive cash backs on sanctioned loan amounts. Sometimes, we also get to offer exclusive loan schemes on behalf of the banks such as nil processing fees for our valued customers.
Prepayment penalty : Amount which borrower is supposed to pay as a penalty in case of early loan payment. If you repay a bigger loan early, then it will generate expected return at lower than anticipated amount. This amount is collected in the form of interest. Banks generally levy prepayment charges from nil to upto 5 %.

Doctor Loan News - May 2021
  • 2021-04-27 : Bank credit increased by 5.33%; deposit rose 10.94%
    Reserve Bank of India reported that Bank credit which includes retail loans like home, LAP, personal, two-wheeler, car, education and doctor loan along with business and mudra loan grew by 5.33% to Rs 108.89 lakh crore. Further deposits which include fixed and recurring deposits rose 10.94% to Rs 152.15 lakh crore.
  • 2021-04-27 : Karnataka Bank targetting a growth of 12% in FY22
    Karnataka Bank stated that it is targeting to grow its business at 12% to over Rs 1.42 lakh crore in the current fiscal year. The Bank is planning to gradually increase the share of the retail loan which includes home, personal, LAP, two-wheeler, car, education and doctor loan.
  • 2021-04-13 : Bandhan Bank’s collection efficiency ratio at 96% in Q4
    Bandhan Bank reported an overall collection efficiency of 96% for the quarter ending March 2021. Total advances which include retail loans like home, personal, business, car, two-wheeler education and doctor loan along with business and mudra loans grew by 21% at ₹87,054 crores. Deposits which includes fixed and recurring deposits grew by 37% at ₹77,972 crores. Further, CASA deposits increased by 61 per cent at ₹33,827 crores.
  • 2021-04-05 : Yes Bank Jan-March deposits up 54% to 162, 947
    Yes Bank reported that the bank’s loan and advances which include home, personal, LAP, gold, two-wheeler, car and doctor loans along with business and mudra loans increased by 0.8% in year-on-year (YoY) terms to Rs. 172,850 crores. In addition to this, the bank deposit which includes fixed and recurring deposits grew 54.7% to Rs. 162,947 crores as compared to ₹105,364 crores on a yearly basis. The CASA(current and savings account) was up 51.8% to Rs. 42,587 crores against Rs. 28,063 crores YoY.
  • 2021-01-15 : IDBI Bank reported Rs 378-crore profit
    IDBI Bank posted a net profit of Rs 378 crore for the December quarter. The loans which includes home, LAP, personal, car, two-wheeler, gold, education and doctor loan along with business and mudra loans fell 7% to Rs 1.6 lakh crore (y-o-y) in December 2020. The bank’s total deposits which includes fixed and recurring deposits rose 2.85% y-o-y to Rs 2.24 lakh crore at the end of December 2020. In addition to this, CASA improved to 48.97% as on December 31, 2020.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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