Doctor House Loan

Home Loan for Doctors

Apply for Doctor House Loan at Bajaj MARKETS

✓ Home Loan from ₹5 Lakhs To ₹5 Cr ✓ Multiple Lending Partners ✓ Attractive Interest Rates

A doctor house loan is a distinctive credit scheme given by a select group of banks and financial institutions. This loan comes with multiple advantages and doctors can acquire it at a competitive interest rate. With the help of this credit, health professionals can fulfil their dream of owning a house. 

Home Loan for Doctors: Interest Rates

Several financial institutions offer this loan at different interest rates. Here’s a closer look at the interest rate of the Doctor Home Loan program. 

Financial Institution

Rate of Interest

SBI Privilege Home Loan

Starts at 6.95% per annum

PNB Pride Housing Loan 

Starts at 6.75% per annum

Union Bank Special Retail Loan

Starts at 7.30% per annum

IIFL Swaraj Home Loan

Starts at 11% per annum

Disclaimer: Interest rates are subject to change as per the financial institution’s policies

Features & Benefits of Home Loan for Doctors

Here are the multiple positive points of Home Loan for doctors. 

1. Competitive Interest Rate: This loan is offered by a number of financial institutions at a competitive interest rate, making it more attractive.

2. Quick Processing : Organisations like Bajaj MARKETS follow a quick processing policy. You may get the approval within minutes.

3. Flexible Repayment Tenure: Home Loan for doctors has a flexible payback duration which allows you to choose a repayment duration that suits you.

4. Balance Transfer Facility : You can transfer your current Home Loan to another account at a reasonable interest rate and a substantial top-up fund for any other financial requirements.

5. Pre-approved Offers: A few institutions give exclusive pre-approved Home Loan offers that you can obtain.

6. Digital Process: You can apply for a Home Loan digitally by visiting the website of any financial institution which will save your time. 

7. Dedicated Customer Care: Dedicated customer service representatives will be available to support and guide you through the whole process, ensuring that you get the best offer possible.

Eligibility Criteria for Home Loan for Doctors

Below is the table displaying eligibility criteria. 

Parameters

Work Experience

Super-specialist doctors (MD/MS/DM)

Minimum 3 years 

MBBS doctors

Minimum 3 years 

Dentists (BDS/MDS)

Minimum 5 years 

Ayurvedic and homoeopathic doctors

Minimum 5 years

Documents Required for Home Loan for Doctors

To avoid rejection of your loan application, you must submit the required documents listed below.

  • Application form

  • Identity proof (Aadhaar card, Voter Id card, Driving licence)

  • Resident proof (Aadhaar card, Passport, Utility bills, Voter Id card)

  • KYC documents

  • Qualification proof

  • ITR for last two years

  • Profit and loss statement for previous two years

  • Bank statement for last two years

  • Property documents

How to Apply for the Home Loan for Doctors?

You can avail this loan from any financial institution but getting the same at Bajaj MARKETS will give you additional benefits like quick disbursal, balance transfer facility, and so on. 

Here are the steps to follow.

  • Step 1: Go to the financial institution's website or download the app.

  • Step 2: Log into the page/app with your credentials. 

  • Step 3: Navigate to the ‘Loans’ section. 

  • Step 4: Choose ‘Loans for Doctors’ from the menu.

  • Step 5: Fill in the application form with relevant details carefully and submit it.

  • Step 6: Next, you will receive a call from the customer officials.

  • Step 7: The executives will visit your home or office to collect the necessary documents.

  • Step 8: Once documents are submitted, your loan will be approved and disbursed post verification.

FAQs for Home Loan for Doctors

  • ✔️Do Doctors get Home Loan easily?

    Yes, several institutions offer Home Loan for doctors at a low-interest rate.

  • ✔️What is the requirement for CIBIL score for Home Loan for doctors?

    Your CIBIL score is one of the most critical aspects that a lender takes into consideration while approving or rejecting your loan application. It shows your creditworthiness and financial health. A score of 700 or above is deemed a good number.

  • ✔️What is the major difference between a regular Home Loan and Home Loan for doctors?

    A doctor Home Loan is a specific financing option offered by a limited number of banks and financial entities. This loan offers a number of benefits, and doctors can get it at a reasonable interest rate. On the other hand, a regular Home Loan is a form of credit that any salaried or self-employed person can acquire in order to buy or construct a home.

  • ✔️Which is the best Home Loan for doctors?

    Each financial firm has its own set of products. You can evaluate them based on their interest rates, processing fees, and other charges to determine which is the best option.