Top 7 Personal Loans for Doctors by Banks in India

Personal loan for doctor

Doctors who want to start their own clinic do not need to worry for finance involved in the set up. All they need to do is just reach their bank and ask for a loan for their new clinic, often called as doctors’ loan. If you are a certified medical practitioner, you need not to worry about finance. There are a number of special personal loan schemes meant exclusively for doctors. At, you can check out personal loan for doctors from top banks and NBFCs. Some of these loans are discussed below.

  1. Bank of Baroda Loan for Doctors

It is an exclusive loan which is meant only to meet financial needs of registered medical practitioners. Bank will provide loan to the medical practitioners for setting up or expanding hospital/ pathological lab/ nursing home/ clinic. The loan can be advanced in any of the form- working capital, term loan or overdraft.

Features and Benefits

  • Loan can be advanced for set up/ development of clinics, labs, nursing homes or clinic cum residences.
  • The loan can be given for:
  1. Purchase of medical equipments and diagnostic tools
  2. Setting up operation theatre
  3. Purchase of vehicles like ambulance, goods carrier, car, etc
  4. Purchasing office equipments like ACs, computers, furniture, etc
  • Expansion/ renovation of prevailing clinic, hospital or nursing home can also be financed.
  1. Bank of India Doctors’ Loan

Loan can be provided for setting up new X-ray labs, nursing homes, clinics, pathological labs, etc; however loan for repair and renovation, expansion or modernization of prevailing premises can also be approved to the borrower. One can also avail loan for purchasing office equipment’s, ambulances and such things. Medicine and disposables can be financed in the form of working capital.


  • Companies, trusts and partnerships are also eligible along with individuals.
  • The promoter/s or applicant/s need to be qualified from a recognized institute in any of the medical science branch: MBBS/ BDS/ BHMS/ BAMS/ Physiotherapy/ Radiology. Along with this, the applicant needs to possess minimum practical experience in the concerned field.
  • Experience/ qualification requirements:
  • Individuals- should be qualified and registered medical practitioner having a minimum experience which is required to set up a hospital, nursing home or clinic.
  • Company- at least half of the employed directors/ promoters need to be qualified and registered medical practitioners.
  • Partnerships- at least 50% of the partners should be qualified and registered medical practitioners.
  • Trusts- they should be registered and must possess a power to borrow. At least one trustee needs to bear qualifications and eligibility as that of an individual.
  1. SBI Doctor Plus scheme

The scheme allows easy personal loan for qualified medical practitioners in any field. The scheme is more suitable for fresher doctors with entrepreneurial skills and mindset, though it is meant for every certified medical practitioner. The State Bank of India does personal loan disbursal the fastest.


  • Medical equipments like dental implants (for dentists), replacement/ implants for knee, spine, hip and shoulder (for orthopedists) can be financed.
  • Setting up new nursing home, drug store, clinic, pathological lab, X-ray lab, etc can be financed.
  • Vehicles like ambulances and goods carrier can be financed.
  • Finance is also available for renovation, expansion and modernization.
  • Loan amount: A maximum of Rs. 5 crores can be financed. The working capital portion can be 10% in case of loan up to 1 crore and 5% in case of loan more than 1 crore.


All registered individuals, corporate, partnerships and trusts are eligible having minimum qualifications of BAMS/ BDS/ MBBS/ GAMS/ BHMS. The key promoters of the firms need to be qualified doctors.

  1. Corporation Bank’s Corp Doctor Plus scheme

Loan is available for physiotherapists and medical practitioners. Interest rates are between 11.65% and 12.40%. Maximum amount of loan can be 5 crores while a maximum of 2.5 crores can be financed for medical equipments. There is a requirement of third party guarantee for cases which do not get CGTMSE coverage. Prepayment charges are nil.

  1. PNB Sanjeevani Loan for Doctors

All qualified doctors- Unani, Homeopathic, Ayurvedic or Allopathic and registered medical practitioners having required qualifications are eligible for the scheme. Interest rates are as less as 11.85%. Finance is available from 1 lakh to any amount. PNB repayment of personal loan is done in maximum 7 years. For online applications a processing fees waiver at the rate of 20% is available.

  1. Allahabad Bank loan scheme for Doctors

Loans to meet professional needs of the doctors are advanced to applicants having age less than 65 years at the time of application. Maximum loan which can be granted is Rs. 5 lakh. Interest rate is 14.70%. Repayment period cannot be more than 5 years. Processing fees at the rate of 1.20% is charged with a minimum of Rs. 600. Prepayment charges are levied at the rate of 2.20% on the balance outstanding.

  1. Canara Bank’s Doctor’s Choice scheme

All registered medical practitioners with a minimum experience of 3 years are eligible. Maximum amount of finance can be Rs. 10 lakh. Loan can be repaid up to 7 years. Interest rate is levied at a rate of 10.40% to 11.65%.

So, if you are looking for personal loan for doctor, you can choose any of the loan schemes stated above, if you meet the eligibility criteria. Get personal loan at today.

You may also like...