HDFC Doctor Loan has helped thousands, it can help you too!

Are you a doctor striving to start your clinic or hospital or willing to enlarge your existing medical business but limited funds are holding you back? If your answer is yes, then look nowhere further as HDFC Doctor Loan is focused on facilitating in the same context. The loan scheme has been availed by thousands of doctors and as a consequence, it has become one of the most popular fund options to fulfilling the dream of owning a medical business. Let’s get to know the imperative elements of the product.

 Doctors can take this loan with the aim to expand the business, home renovation or child's education.

 Highlights of HDFC Doctor Loan

 Following are the significant elements that you can enjoy on availing the HDFC Doctor Loan:

• Loan Amount – The borrower can apply for a loan amount ranging anywhere between Rs. 50 thousand to Rs. 75 lakhs.
•  Repayment Tenure – One can avail of the loan for any term ranging from 12 Months to 60 Months.
• Interest Rate – HDFC Bank provides Doctor Loan at an attractive rate of interest which can lie anywhere between 12.50% p.a. to 15.65% p.a 

Benefits of HDFC Doctor Loan

Following are the benefits of availing HDFC Bank Doctor Loan:

• Avail loan amount of up to Rs. 50 lakhs
• Balance transfer facility available for lower EMIs
• Golden edge facility for a high amount and doctors with high income
• No collateral needed

Who can avail of HDFC Doctor Loan?

In order to avail of the Doctor Loan from HDFC Bank, the borrower must be a salaried individual, self-employed individual or BAMS/BHMS doctor.

Eligibility Criteria for HDFC Doctor Loan

Following are the fundamental eligibility criteria of HDFC Bank Doctor Loan that one will have to meet so as to avail the loan under this scheme:

1.          Age – The borrower should be at least 25 years old and should not exceed the age of 65 years.
2.          Job Stability – The borrower should be functioning at the current organisation for at least 1 year consecutively.
3.          Credit Score – One must possess a credit score of at least 650.

Documents Requirement for HDFC Bank Doctor Loan

Following are essential documents needed for applying for Doctor Loan from HDFC Bank:

Salaried individual

• Duly filled-in loan application
• Identity Proof - Passport, Driving license, PAN Card, Banker’s sign verification
• Qualification Proof - Graduate or Post Graduate qualification certificate, IMA (Indian Medical Association) membership number, or the other registrations permitted by the Government of India
• Address Proof  - Passport, Phone bill, Electricity bill, Rental agreement, Driving license, Election ID card
• Last 3 months’ salary slip
• Recent 2 passport size photographs
• Last 6 months’ bank statement
• 3 Post Dated Cheques/ECS Mandate

Self-employed individual or professional

• Duly filled-in loan application
• Identity Proof - Passport, PAN Card, Driver's license, Banker’s sign verification
• Qualification Proof - Graduate or Post Graduate qualification certificate, IMA (Indian Medical Association) membership number, or the other registrations allowed by the Government of India
• Last 2 years’ Income Tax Returns
• Last 3 years’ Professional/Self- employed existence proof
• Recent 2 Passport Size colour Photographs
• Last 6 months’ Bank Statement
• 3 Post Dated Cheques/ECS Mandate

Fees and Charges in HDFC Bank Doctor Loan

Following are the fees and charges that are levied by the HDFC Bank on Doctor Loan in addition to the interest rate:

• Prepayment Charges - These charges are to be paid just in case you would like to repay your loan either partially or in full during the selected tenure. HDFC Bank allows prepayment of the loan at NIL charges.
• Processing Fee - HDFC Bank takes a processing fee of 0.99% - 2.50% plus applicable tax.

Conclusion

HDFC Bank Personal Loan for Doctors comes with the best personal loan interest rate in the market with several other appealing features and benefits. You can definitely turnaround this loan product in case you are willing to get the funds to facilitate your clinic or any other medical business dream. Although, you must carry out a significant study on the same prior to applying for it.