SBI Personal Loan for Doctors

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Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Are you a medical practitioner looking for a loan? Then, an SBI Doctors instant loan at attractive interest rates is your one-stop solution. It allows you to undertake super-speciality courses and upskill yourself. The loan amount offered under the SBI Doctors Personal Loan scheme is from Rs.10 lakh to Rs. 20 crore with a repayment tenure of up to 10 years. However, the interest rates shall vary depending on business needs and the applicant’s specific profile.

Paying for urgent needs has never been easier as you can avail of funds within 24 hours. Regular education loans just help cover tuition fees, whereas a SBI Doctor’s Personal Loan online can take care of all the end-to-end costs of studying abroad.

SBI Personal Loan for Doctors – Highlights

Below states are the key highlights of SBI Doctors Personal loan:

Features	Description
Who Are Eligible?	Any Individual, Proprietorship Firm, Trust, Partnership Firm and Corporate
Maximum Loan Amount	Max. up to Rs. 20 crore Cash Credit up to Rs. 2 crore
Loan Tenure	Up to 10 years (Maximum moratorium 12 months)
Margin	Term Loan 15% Cash Credit 25%
Upfront Fee	50% concession on card rates
Collateral/Security	Loans up to Rs. 2 crore- Nil collateral Guarantee Fee to be borne by the borrower The partial collateral security model is also applicable as per extant CGTMSE guidelines Minimum 25% SARFAESI enabled tangible collateral security

Comparing Doctor’s Loan From Other Banks

The following comparison between SBI Doctors instant loan and other lenders can help ease your research work. Let’s have a look at some other popular options:

Bank/NBFCs	Interest Rate
Axis Bank	14.95% – 19.20% p.a.
Bajaj Finserv	9.75% – 30% p.a.
FlexiLoans	1% per month onwards
HDB Financial Services Ltd.	Up to 36% p.a.
HDFC Bank	10% – 22.50% p.a.

Remember, you can always use Urban Money’s SBI Personal loan calculator to assess your personal monthly EMI.

SBI Personal Loan for Doctors – Fees and Charges

Apart from the SBI Doctors Personal loan interest rate, borrowers are also required to pay;

Processing Fee: Up to 2.50% of the loan amount
Foreclosure Charges: Nil
Late Payment Charges: 2.50% of EMI amount per month

SBI Personal Loan for Doctors – Documents Required

The necessary documents you need to avail of SBI Doctors personal loan online include:-

Applicant’s KYC – Passport, PAN Card, Aadhaar Card, Voter’s ID Card, Driving Licence
Residence Proof – Clinic address and vintage proofs, income proof, address proof
Copy of Certifications – MBBS, MDS, BDS, BAMS, BHMS, DHMS

SBI Personal Loan for Doctors – Eligibility Criteria

The SBI Doctors’ Personal loan eligibility depends on the following criteria:

Min-Max Age: 25 to 60 years
Nationality: Indian
Occupation: Registered medical practitioner with a minimum of 2 years of experience
Employment Status: Salaried or self-employed
Minimum Salary: Rs. 30,000 per month for salaried doctors and Rs. 50,000 per month for self-employed doctors
ITR documents are mandatory for the previous year.