doctor loan

Are you aspiring for an MBBS or becoming a doctor?

Here’s what you should look at:

As we all know that today several people are pursuing a medical professional degree, and around 50,000 doctors are selected every year in India, which is comparatively lesser than the total population. Today many students wish to study for a doctorate or dream to become a doctor, but the price of education is too high.

Many rural people are unable to meet the educational requirements, and secondly, of 15 lakh aspirants, the number is huge, and the selection is not even half of the selection done. 

While that 50,000 people who are later practising doctors, who already have used their ample savings for education, need funds to achieve their professional needs.

What are doctor loans?

Doctor loans are loans given by financial institutions to fulfil their personal as well as professional needs. It may include capital maximisation, taking some medical equipment, recovering debts etc.

One prefers those who are adaptable to new technologies and techniques more than those with less quality equipment. During this competition, it is better to stay with the new technology to keep your business going.

Following are the benefits of taking a loan:

  1. Assists in promoting and advertising.
  2. Helps to fulfil student loans.
  3. Employment contracts.
  4. Use for Real estate.

Bajaj Finance Limited, the best lending and investment arm of Bajaj Finserv, provides an exclusive offer for a designed loan of Rs 25 lakh. It also offers doorstep services where they credit the money to the borrower’s accounts within 24 hours. 

They provide these loans that are convenient to the borrowers or doctors who are always on the go. Here are the features of this custom-made loan:

  • Provision of funds without any collateral needs– Doctors need enough finance to translate their dreams into reality. Hence, if one pledges collateral to increase the funds, it gets more complex. One can apply for an SBI Doctor loan or doctor loan offered by Bajaj Finance.
  • Loan flexibility– If a doctor wants to apply for a loan for professional use or personal use, it doesn’t matter. This institution provides a loan of Rs 25 lakh with the Flexi loan facility. It helps to take the maximum benefits for enhancing the lifestyle.
  • Facility to aid cash flow management– with the help of the Flexi loan facility, doctors can ensure that the cash flow doesn’t run dry because they often tend to expand or diversify. It offers pre-determined loan time for a fixed period. You can borrow this loan limit as many times as you want but have to pay its interest in monthly EMI’s. ( The interest charges are applicable only on withdrawal amount
  • Prepayment facility– one can pay the amount partly before the expected duration without any extra charges. One can pay these amounts any time during the specific tenure. There is no upper limit of giving the prepaid amount, and it should be more than the value of three instalments.
  • Easy Loan application– this loan is straightforward to access the loan. Doctors should fill the online application form and wait for the representative to reach them with more instructions. If you are an existing customer, you can have a fully custom loan with the help of a pre-approved offer. It helps to deal with the cash flow gaps or to meet personal needs.

Before applying for a doctor loan, it’s also important to know the eligibility and conditions for the documents to get the loan.


  • The minimum age of the doctor should be 21 while the maximum age of 65 years.
  • One should have a minimum of 2 years of experience.

Documents for submission:

  • Medical enrollment certificate.
  • Statements of previous years, income tax returns, balance sheet, profit and loss account.
  • Copy of ownership documents for the pledged property.

Interest rates are different in different institutions. In Bajaj Finserv, the interest rate is 14-17%, while for those who have taken a loan against property, the interest rate is from 12.5% p.a. The interest rates increase, leading to an increase in the amount. Hence one should always look out for loans when there are low-interest rates.

Here are some simple procedures to carry an online application:

  1. Fill the online application form for a loan through the Bajaj Finserv website.
  2. Wait for the confirmation call to come within 24 hours from the executives, and they will let you know the approved amount.
  3. Submit the required documents told to you with the executives. 

One can search for ‘apply for doctor loan online’; this helps get the maximum benefits of varied doctor loans from various institutions. You can compare the interest rates, analyse the features and options provided and choose which meet your requirements.


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