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Home Business Doctor Loan Eligibility Demystified: Key Factors You Should Consider

Doctor Loan Eligibility Demystified: Key Factors You Should Consider

Suppose you are an established or fledgling doctor trying to set up a new clinic to practice in, want to buy new equipment, or even renovate your old clinic. In that case, you should consider getting a specialised Doctor loan as it offers loans to you at a reasonable interest rate for your specific needs.

Unlike other types of loans, loan for doctors factor in your medical qualifications to offer higher loan amounts, doorstep services, quicker approvals and disbursals.

To avail of a doctor loan, it’s crucial to understand the eligibility criteria and key factors that lenders consider before approving a loan. Let us explore the different criteria and highlight the key factors you should consider.

What is a doctor’s loan?

A doctor loan, or physician loan, is a collateral-free loan offered to medical professionals. It is a loan that doctors can avail of for several reasons, such as expanding their business, renovating their clinics/hospitals, upgrading their equipment, and setting up a new clinic, among others.

Doctor Loan Eligibility

The following are some of the requirements to get a doctor’s loan:

1. Qualification and Experience

Several lenders set up requirements based on the borrower’s qualifications and experience to measure loan repayability. As doctor loans are collateral-free, having a potential or already successful business is excellent for approval. The required experience can vary from 2 years to 5 years.

2. Age

Lenders have set up minimum and maximum age limits for loan applicants. The exact age depends on the lender but is typically over 22 and under 72 (with the term ending before the borrower turns 72).

3. Income and Financial Stability

Lenders assess your income and financial stability to evaluate your repayment capacity. They may consider your professional income, including consultations, fees, and any other sources of revenue.

4. Existing Debt and Credit History

Lenders also consider your existing debt obligations and credit history. Having an excellent credit score is not necessary to avail of one, but having a decent credit score and debt-to-income ratio helps you secure a lower doctor loan interest rate.

5. Nature of Practice and Clinic Infrastructure

The nature of your medical practice and the infrastructure of your clinic can also influence your eligibility for a doctor loan. Lenders may consider factors such as the location of your clinic, the number of patients, and the equipment and technology available.

Documents required

To avail of a doctor’s loan, an applicant must provide certain identity proofs for KYC, other than which you will be required to provide a medical registration certificate along with up-to-date financial documents, including income tax returns, bank statements, and audited financial statements, to demonstrate your financial stability.


I am an orthodontist practising in Greater Noida. Earlier in the year, I had gotten an excess of funds, so I decided to reinvest it into my clinic and add a bit more from my savings, but after having it 60% renovated, I found out that we were going above the projected cost.

I was stuck, so after much deliberation, I checked the Bajaj Finserv doctor loan eligibility and got a physician’s loan from Bajaj Finserv to add to the renovation. Now that it is complete, I am delighted that I chose to proceed with the renovation, as now I have more patients than ever before.

Thus, it is vital to understand the key factors that determine doctor loan eligibility. Qualification, age, income, credit history, and clinic infrastructure are essential in determining eligibility. By considering these factors and exploring the doctor loan interest rate in India from lenders like Bajaj Finserv, you can secure a doctor’s loan for your needs.


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