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HDFC Bank Doctor Loan in Ahmedabad

Interest Rate starts from 12.99%

HDFC Bank Doctor Loan Interest rates in Ahmedabad

Please Find the Detailed HDFC Bank Doctor Loan Interest Rates

Up To 10,00,00010,00,000 To 30,00,000
Doctor Loan Balance Transfer from others12.99%12.99%
Salaried Doctor14.15%14.50%
Self Employed Professional Doctor14.15%14.50%

Features of HDFC Bank Doctor Loan Ahmedabad

Type Features
Processing FeeUpto 2.50%
Pre Closure Charges2.0%
Part Payment ChargesAllowed
Min Tenure1 Years
Max Tenure5 Years
Min Age25 Years
Max Age65 Years
Min Loan AmountRs.50,000/-
Max Loan AmountRs.50,00,000/-

HDFC Bank Doctor Loan Ahmedabad Charges

Type Charges
E M I Bounce ChargesRs.550/- per bounce
Penal Interest@ 24 % p.a
Duplicate Statement ChargesNil
Insurance CoverYes
Cheque Swapping ChargesRs 500/-
Issue Amortization Schedule DuplicateNil
C I B I L Report Issuance ChargesRs.50 Per Copy
N O C Issuance ChargesNil
Duplicate N O C Issuance ChargesNil
Loan Cancellation ChargesNil
Non Standard Repayment ChargesNot Applicable

Documentation For Doctor Loan

  • Filled Application form
  • Identity Proof (PAN CARD)
  • Qualification Proof
  • Address Proof
  • Own House Proof
  • Latest 3 months Pay-slips
  • 2 Passport Size color Photographs
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Filled Application form
  • Identity Proof
  • Address Proof
  • Qualification Proof
  • Last 2 years Income Tax Returns
  • Professional/Self employed existence proof for more than 3 years
  • 2 Passport Size color Photographs
  • 6 months Bank Statements
  • Filled Application form
  • 3 Post Dated Cheques/ECS Mandate
  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification
  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)
  • Passport
  • Telephone bill (BSNL/MTNL)
  • Electricity bill
  • Title deed of property
  • Rental agreement
  • Driving license
  • Election ID card
  • Photo-credit card (with last two month statements)
  • Form 16 (For Individuals)
  • Appointment Letter (for last two months)
  • Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
  • Bank statements of latest 2 months
  • 3 months bank passbook
  • Graduate or Post Graduate qualification certificate
  • IMA (Indian Medical Association) membership number
  • Any other registrations allowed by Indian Government.
  • Sale deed of Property with own name
  • Property Tax receipt with own name
  • Electricity bill with own name

HDFC Bank Doctor Loan FAQ's

What are the loan tenure options for Doctor Loan?

You can repay your loan over a period of 12 to 60 months

What security do I need to provide to obtain Doctor Loan?

To obtain the loan, there is absolutely no need to provide any security or collateral.

How do I repay my Doctor loan?

You pay the loan in equal monthly instalments (EMIs). The loan will be paid through post-dated cheques. You can also pay through Electronic Clearing System (ECS ) or a standing instruction to debit your HDFC Bank account with the EMI amount

How much loan can I avail of for Doctors?

You can avail of a loan from Rs 50,000/- to Rs 50,00,000/- depending on your income, repayment capacity and respective location product cap.

What are the benefits of having a Current/Saving Account for my Loan to Doctors?

You get preferred Processing Fee, priority processing and simpler documentation if you have a Current/Saving Account with HDFC Bank. This is taken into account at the time of disbursal of the loan. You can pay through Standing Instructions to debit your HDFC Bank account with the EMI amount.

About HDFC Bank

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. Incorporated in 1994, it is the fifth largest bank in India as measured by assets. It is the largest private sector bank in India by market capitalization as of February 2014. The bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India.

According to the Brand Trust Report 2014, HDFC was ranked 32nd among India's most trusted brands. HDFC was ranked 45th on the list of top 50 Banks in the world in terms of their market capitalization.

HDFC Bank Highlights

KPMG India's Best Banks 2015 Awards by Business Today, 2016
Mr. Aditya Puri in Barron's Top 30 Global CEOs for 2nd year by Barron's World's Top 30 CEOs, 2016
HDFC Bank wins prestigious IBA Banking Technology Awards by IBA Awards, 2016
HDFC Bank wins Bank of the year and Best Digital Banking Initiative awards by Business Today - KPMG India's Best Bank, 2016
HDFC Bank wins NPCI National Payments Excellence Awards, 2015
Excellence in Customer Experience by IDC Insights Award 2015

Doctor Loan Can Be Used For Many Purposes Like Below

For a New Clinic

Buying New Equipment

For starting a new Specialization

Improvise clinical Laboratory

Increase the bed Capacity

Regular Hospital Maintenance

Setting up a new Pharmacy

Renovation of Clinic

Who are Eligible For Doctor Loans?

1) What is Doctor Loan?:-

The Doctor Loan Program is a specific loan with special underwriting developed specifically for medical physicians and dentists, optometrists, podiatrists, and veterinarians. Most doctors are looking for loans with low interest rates that enable them to move on to the growth. This scenario poses many challenges for most lenders because most physicians would be qualifying for the best rates given the type of loan they need. Banks try to do these loans with competitive rates and with less time.

Physicians with high credit scores have a very low risk of default on loans, even if they have high debt. Hence, the doctor loan program was started to give physicians access to improve his service levels.

Following are eligible for Doctor Loans:

MBBS, BDS Graduate Doctors - Minimum 5 years of experience (Post qualification)

MD, DM, MS, MCH, MDS Post Graduate Doctors having Minimum 4 years of Experience (Post qualification)

Individual doctors employed with reputed Government or Private Hospitals in India

Self employed doctors who own a hospital, a nursing home, a Clinic in India.

Consulting doctors with leading hospitals in metro cities in India.

Hospitals in form of Proprietorship/Partnership and Private Limited companies

Eligibility and Documentation For Doctor Loan

Vintage of Residence: Residence should be owned in the City or Hospital should be owned in the City for Min of 1 year.

Interest rates: Rate of interest will be floating rate of Interest, generally linked with the base rate of the banks, Present Scenario the Rate of Interest will be 15 % to 21.0 %.

Rate of Interest will be based on bank/financial Institutions internal policies and terms. Generally Bank account conduct, reputation of the entity, repayment capability, credit history, Promoters Back ground and other credit related factors which can be evolved for Doctor Loans.

Limit: Doctor Loans can be availed from Rs. 5 Lakhs to Rs. 75.0 Lakhs

Age: Minimum of 26 years and Maximum of 60 year on maturity of the Loan amount.

Tenure: 12 - 48 months

Doctor Loan Pros

Easy availability: A lot of banks offer Doctor Loans of various amounts and max duration for 4 years. You can pick and choose between them.

No collateral: Doctor Loans are not very large amounts. So there is no need to put up security or collateral against personal loan.

Quickly available:If you have a relationship with a bank you can get a personal loansanctioned within 24 hours. Personal loans also require very little paperwork.

Doctor Loan Cons

High interest rates:  After credit cards, personal loans have the highest interest rates among credit products. Sometimes personal loans have higher rates than credit cards also.

High pre-payment penalty:  If you pre-pay your personal loans, banks often charge a high penalty.

Need good credit history: Today, most banks give personal loans only to people with a good credit history. If someone regularly takes personal loans, he may be seen as someone who is not careful with his finances.

Affects credit report: If you default on your Doctor Loan your CIBIL credit report reflects it and your credit rating and credit score are affected.

Expert Advice

Best Practices for Doctor Loan

Clear Identification of purpose and planned Budget.
Cost - benefit analysis.
Peer comparison- ROI, PF and other charges and repayment Tenure.
Know your credit history score and eligibility.
Plan the repayment from the regular incomes than from futuristic/speculative income.
Check various other alternatives before availing a loan.
Be clear on payment date and mode of payment like ECS, Online payments, Post dated cheque.
Terms and conditions to be clearly understood before signing up the agreement.
Take payment protection insurance.
Ensure proper updation of contact details.

Things not to do for Doctor Loan

Do not jump to apply a loan with our proper homework.
Do not borrow more than what is required.
Do not apply loan at too many places at a time.
Do not sign the terms and conditions without reading.
Do not rush with the process.

Important points to be remember for Doctor Loans

As a experienced individual doctor, you need to avail a doctor loan funds so as to open a clinic and begin practicing. There are certain eligibility situations that need to be noted while avail the Doctor Loans.

1) Eligibility Criteria:
All medical professionals whether technicians or medical doctors, who completes 5 years of experience stand eligible for receiving doctor loans. An individual working in a medical occasion administration division can even apply.
2) Functionality:
The aim of this facility is to meet the working capital requirement of medical doctors to run a clinic. It is usually meant to buy premises for opening a health center. The loan can also be largely useful for the acquisition of equipments, furniture, fixtures and doing repairs and renovation of business premises. This fund is most often used for launching new business and to make enhancements of an existing health center.
3) Loan Amount:
The amount acquired as loan will be large or small relying on the business needs. The loan officer has to tell concerning the loan amount to medical doctors and relying on the business sort, awards are made to entrepreneurs. The fund acquired clearly defines the enlargement alternatives doctor loan.
4) Tenure:
“The term for this sort of small business loans isn’t kept greater than four years. So, professionals receiving this award must return it in time. There is no procrastination of the term. So, all the pieces must be done throughout the stated time period. There is no need to wait for the final moment and repayments of the borrowed cash should be done on the earliest.
4) Pricing:
“Interest is linked to the bottom rate. So, usually a typical interest is charged and not a very high interest levied on borrowers. This type of interest is basically vital and it seals the loan pricing. So, the lender can’t fluctuate the value and it stays the same for everyone. Thus, you will need to verify the bottom fee of a lender as relying on it, the interest rate will be determined.

Purpose of Doctor Loans

Doctor loans can be avail for the following reason from the Banks and Financial Institutions.

1) Setting up a Clinic:
Large clinics can be established with doctor loans. It is necessary for entrepreneurs to stay up-to date and use fund support to establish an affluent clinic. By setting up such a clinic, it becomes easy for professionals to offer good treatment to visiting patients and do general good to the society at large. Physicians can also open a health centre at any location and use the place for offering service to the sick. Such centers then become the source of income for a doctor and other employees who work in the centre. So, new clinics can also become employment generators.
2) Buying New Equipments:
 In medical practice, equipments are quite essential, so doctors who are in practice, need to buy the best equipments to run their clinic. For this very reason, physician financing becomes essential. The reward received can be good enough to buy new equipments and so a health centre can do well. It is really important to buy the best equipments and the ones that are mostly required for clinical operations. They come expensive and so funds are inevitable to buy the equipments needed to run a health centre.
3) Working Capital requirement including stock of medicine/disposables::-
A medicine store is also required in a health centre. There are expenses involved in maintaining such a store also. The reason is medicines should be purchased and all other requirements should be fulfilled. That is to say the store should be kept up to date all the time and it is possible only with fund release. Physicians should apply for Doctor Loans to keep their health centre well equipped and its drug store stacked with all medicines. So, to apply for funds is very much needed and an enterprise can really do well with the support it finds.
4) Setting X-ray lab::-
A health centre also requires an X-ray lab because X-ray is something that needs to be done frequently. Visiting patients have a need to get their X-rays done in the health centre itself without having to go to some other place. That is why X-ray lab becomes so important for a clinic owner. Doctor loans should be procured for setting up of such a lab in the health centre itself.
5) Expansion/Renovation/Modernization of Premises: -
Looks have got a lot to do with clinics. Professionals should strive to give a better look of the clinic that one is in possession of. Only then patients will get attracted and would love to visit the centre for their treatment. Everyone wants to be in a clean place and in case of clinics this factor is of prime importance. Professionals should focus on modernizing their clinics.

About Ahmedabad

Ahmedabad is the largest city and former capital of Gujarat, which is a state in India,it is located on the banks of the Sabarmati River. Ahmedabad is also known as Amdavad by fellow Amdavadis and population of more than 6.3 million and an extended population of 7.8 million, it is the sixth largest city and seventh largest metropolitan area of India. In Ahmedabad Cricket is a popular sport in Ahmedabad, which houses the 54,000-seat Sardar Patel Stadium.

Ahmedabad begins in the eleventh century with the Solanki King Karandev I, ruler of Anhilwara. He waged a war against the Bhil King Ashapall or Ashaval and after his victory established a city called Karnavati on the banks of the Sabarmati at site of modern Ahmedabad. The history of Ahmedabad dates back to 15th century when it was known as Karnavati after the name of the King Karandev, the ruler of the place. Later when Sultan Ahmed Shah, medieval ruler of Gujarat, conquered the place it was renamed as Ahmedabad. The city was spacious and built to the east of Sabarmati. There is a fort known as Bhadra Fort which is enclosed by 12 gates.

Places To Be Visited In Ahmedabad

Sabarmati Ashram

    This ashram was Gandhi's headquarters during the long struggle for Indian independence. His ashram was founded in 1915 and still makes handicraft, handmade paper and spinning wheels. Gandhi's spartan living quarter are preserved as a small museum and there is a pictorial record of the major events in his life.

Jama Masjid

    The Jama Masjid, built in 1423 by Ahmed Shah, is beside Mahatma Gandhi Rd, to the east of the Teen Darwaja. Although 260 columns support the roof, the two 'shaking' minarets lost half their height in the great earthquake of 1819, and another tremor in 1957 completed their demolition. Much of this early Ahmedabad mosque was built using items salvaged from the demolished Hindu and Jain temples. It is said that a large black slab by the main arch is actually the base of a Jain idol, buried upside down for the Muslim faithful to tread on.

Hathee Singh Jain Temple

    Hathee Singh Jain Temple was built outside Delhi Gate in 1850 by a rich Jain Merchant. This is the best known of Ahmedabad's many ornate Jain Temples. Built of pure white marble and profusely decorated with rich carvings, the Hathee Singh Temple is dedicated to Dharamanath.

Nal Sarovar Bird Sanctuary

    54 km away and connected the the city, the sanctuary offers a pleasant trip. The sanctuary mainly comprises a lake and marshes where you can see flamingos, pelicans, ducks, geese, cranes, storks, ibises, spoonbills, wading birds, kingfishers, swallows, fishing eagles, osprey, harriers and falcons in great numbers.

Dada Hari Vav

    Dada Hari Vav is well was built to provide cool resting place and water. The stepped well is one the finest example of Gujarati architecture. Even on the hottest days the well is cool. This well was built in 1501. It has a flight of steps leading down to lower and lower platform terminating at a small, octagonal well.

Rani Sipri's Mosque

    This small mosque outh-east of the city is also known as the Masjid-e-Nagira (Jewel of a Mosque) because of its extremely graceful and well-executed design. Its slender minarets again blend Hindu and Islamic style. The mosque is said to have been commissioned in 1514 by the wife of Sultan Mahmud Begada after he executed their son for some minor misdemeanour and she is in fact buried here.

Total Number Of Branches In Ahmedabad (1519)

STATE BANK OF INDIA (237 Branches)HDFC BANK (93 Branches)BANK OF BARODA (89 Branches)DENA BANK (86 Branches)BANK OF INDIA (83 Branches)UNION BANK OF INDIA (60 Branches)CENTRAL BANK OF INDIA (54 Branches)ICICI BANK LTD (54 Branches)PUNJAB NATIONAL BANK (53 Branches)KOTAK MAHINDRA BANK LTD (53 Branches)AXIS BANK (51 Branches)CANARA BANK (43 Branches)INDIAN OVERSEAS BANK (38 Branches)KALUPUR COMMERCIAL CO-OP BANK (38 Branches)YES BANK (36 Branches)VIJAYA BANK (33 Branches)UCO BANK (28 Branches)SYNDICATE BANK (28 Branches)AHMEDABAD MERCANTILE CO-OP BANK (28 Branches)CORPORATION BANK (25 Branches)IDBI BANK (25 Branches)ALLAHABAD BANK (24 Branches)BANK OF MAHARASHTRA (22 Branches)INDUSIND BANK (22 Branches)NUTAN NAGARIK SAHAKARI BANK LTD (21 Branches)ORIENTAL BANK OF COMMERCE (20 Branches)ANDHRA BANK (18 Branches)INDIAN BANK (17 Branches)FEDERAL BANK (12 Branches)STATE BANK OF BIKANER & JAIPUR (11 Branches)BANDHAN BANK LTD (10 Branches)SOUTH INDIAN BANK (9 Branches)THE MEHSANA CO-OP BANK (8 Branches)UNITED BANK OF INDIA (8 Branches)KARUR VYSYA BANK (8 Branches)SARASWAT CO-OP BANK LTD (7 Branches)STATE BANK OF HYDERABAD (5 Branches)ABHYUDAYA CO-OP BANK LTD (5 Branches)DCB BANK LTD (5 Branches)ING VYSYA BANK (4 Branches)STATE BANK OF MYSORE (4 Branches)STATE BANK OF PATIALA (4 Branches)STATE BANK OF TRAVANCORE (3 Branches)PRIME CO-OP BANK LTD (3 Branches)PUNJAB & SIND BANK (3 Branches)RBL BANK LTD (2 Branches)THE SHAMRAO VITHAL CO-OP BANK (2 Branches)TJSB SAHAKARI BANK LTD (2 Branches)JAMMU & KASHMIR BANK LTD (2 Branches)KARNATAKA BANK LTD (2 Branches)CITY UNION BANK LTD (2 Branches)DEUSTCHE BANK (2 Branches)DHANALAXMI BANK (1 Branches)IDFC BANK LTD (1 Branches)HSBC BANK (1 Branches)CITI BANK (1 Branches)CATHOLIC SYRIAN BANK LTD (1 Branches)B N P PARIBAS (1 Branches)BHARAT CO-OP BANK MUMBAI LTD (1 Branches)BHARATIYA MAHILA BANK LTD (1 Branches)STATE BANK OF INDIA (1 Branches)STATE BANK OF INDIA (1 Branches)THE VARACHHA CO-OP BANK LTD (1 Branches)TAMILNAD MERCANTILE BANK LTD (1 Branches)RESERVE BANK OF INDIA (1 Branches)STANDARD CHARTERED BANK (1 Branches)LAKSHMI VILAS BANK (1 Branches)MIZUHO BANK LTD (1 Branches)NKGSB CO-OP BANK LTD (1 Branches)
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