Loan for Doctors

To calculate the EMI for loan for doctors manually you can use the formula -

EMI = P x R x [(1+R)^N] / [((1+R)^N) - 1]

Where,

• EMI is the equated monthly instalment.
• P is the principal amount.
• R is the interest rate.
• N is the loan tenure.

For a more personalised EMI calculation for personal loan for doctors, explore our EMI calculator tool linked. By providing simple details like the interest rate, tenure, and your loan amount, you can know your EMI -

Loan For Doctors: Comparison of Loan Lenders

Choosing the right lender while taking a personal loan for doctors, is an important factor. Whether you take an HDFC doctor loan, or a personal loan for doctors from SBI, comparing different interest rates puts you ahead and lets you broaden your loan options.

To ease your confusion about the interest rate for doctor loan, we present a tabular format that compares critical factors such as interest rates.

Types of Loans Offered to Doctors

For medical professionals, financial needs come in unexpected ways & time. Here’s a simplified guide, on loan types.

• Personal loans: Personal loans are unsecured loans that can be used for any purpose. They are typically easier to qualify for than other types of loans, such as business loans, and they offer flexible repayment options.
• Business loans: Business loans are specifically designed to help businesses finance their operations. They can be used for a variety of purposes, such as working capital, equipment purchase, and inventory financing. You can avail a Business loan by submitting a collateral, such as business assets or personal assets.
• Healthcare equipment loans: Healthcare equipment loans are specifically designed to help doctors finance the purchase of medical equipment & or other inventories; such as X-ray machines, ultrasound scanners, and surgical tables.
• Loans against property: Loans against property are secured loans that allow borrowers to borrow money against the value of their property. These loans can be used for a variety of purposes, such as consolidating debt, financing a major purchase, or meeting unexpected expenses.
• Home loans: Home loans are secured loans that are used to purchase a home. They typically have lower interest rates than personal loans, but they also require a down payment.

Features & Benefits of Loans For Doctors

Know the unique features and benefits of personal loan for doctors, designed exclusively for medical professionals.

Collateral Free Loan

Get Loans Up to Rs 50
lakhs

Quick Disbursal

Get instatnt,
hassle free loans

No Hidden Charges

Enjoy transparent,
no extra charges loan

Transparency

Hassle-free application
and 100% Transparency.

Competitive interest rate

Personal loans starting
at 10% p.a.

Flexible Tenure

Flexible tenure ranging
from 1-5 years

Steps to Apply Online for a Loan For Doctors With Buddy Loan

Experience a hassle-free journey to financial empowerment with Buddy Loan, where we simplify the application process for specialised doctor loan.

Steps To Apply For a Personal Loan with Buddy Loan

• Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
• Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
• Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
• Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
• Step 5: Enter your work details (Including company name, years of service and Designation)
• Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
• Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Personal loan for doctors addresses the unique needs of healthcare professionals. They offer quick access to funds for various purposes, be it upgrading medical equipment, expanding practices, or managing personal expenses.

We've explored the advantages of these specialised Dr loans in promoting financial well-being of doctors.

If you're a doctor looking to seize opportunities or bridge financial gaps, it's time to take a loan for doctors. Apply for a personalised personal loan today and unlock the financial flexibility you need to thrive in both your professional and personal life.