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    Bank of Baroda Loan for Doctors

    We found 1 Bank of Baroda Loan for Doctors

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.35% - 14.35% Fixed
    1,000 to ₹10,000 One time fee
    20K - 2L
    4 Years
    Response Time Within 30 minutes
    What you'll love
    Think about
    Fees & Charges
    Eligibility Criteria

    Bank of Baroda Loan for Doctors is Rated as "Great!" by 12 Users

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    Overview about Bank of Baroda Loan to Doctors

    Bank of Baroda provides a specific loan that is aimed at helping consultants and practicing doctors working in clinics or hospitals to expand their operations to include better services and treatment. This loan features low interest rates and fast approval times.

    Usage of Bank of Baroda Loan to Doctors

    This loan is provided exclusively to people with valid medical registration numbers. The loan thus availed can be used to purchase assets to aid in the development of medical facilities or in improving the level of service provided in terms of treatment and healthcare.

    Eligibility Criteria for Bank of Baroda Loan to Doctors

    A specific loan meant for medical professionals, the eligibility criteria to be met in order for the institution to be able to sanction the loan include the following entities -

    1. Individuals, proprietorship or partnership firms, private limited companies engaged in providing medical, pathological and/or diagnostic services
    2. Applicants or promoters must have recognized qualification in any branch of medical science like MBBS, BAMS, BDS or any degree or course in physiotherapy, radiology or any other relevant stream

    Types of Financing under Bank of Baroda Loan to Doctors

    The financing modes allowed under the Doctor Loan is a demand loan with limited working capital portions.

    Loan limits under Bank of Baroda Loan to Doctors

    Based on the credit-worthiness of the applicant, Bank of Baroda can provide loans within a range of INR 50000 to INR 50 lakhs. A maximum of INR 15 lakhs is allowed for applicants in rural or semi-urban areas (working capital limited to INR 1 lakh) and for urban or metro areas, the maximum loan is INR 50 lakhs (working capital limited to INR 3 lakhs).

    Interest rates for Bank of Baroda Loan to Doctors

    Interest rates for a Doctor Loan could range from Base Rate + 2.50% per annum to Base Rate + 3.00% per annum based on Bank of Baroda’s discretion. The rates are as per November 2015.

    Documentation required during applying for Baroda Doctor Loan

    The standard list of required documents for applying for this loan are mentioned as follows –

    1. Immediate preceding 2 years’ Form 16 along with 3 months’ payslips
    2. Immediate preceding 3 months’ salary credit bank statements
    3. Educational qualification certificates
    4. Government approved identity and address proof
    5. Registration number pertaining to valid Medical License

    Features of Bank of Baroda Loan to Doctors

    The Doctor Loan from Bank of Baroda is an unsecured loan that requires no guarantors or collaterals and is a really good financing option for medical practitioners to start a new venture or improve upon existing facilities.

    The loan period can be of 60 months and the loan processing time is very less when compared to other business or personal loans. The loan process involves minimal documentation

    Applying for Bank of Baroda Loan to Doctors

    Through Bank of Baroda’s website the forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Bank of Baroda requesting an executive assistance for application process.

    One can also apply for Bank of Baroda Loan to Doctors through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.


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