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.
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
This loan is offered by a number of financial institutions at a competitive interest rate, making it more attractive.
Home Loan for doctors has a flexible payback duration which allows you to choose a repayment duration that suits you.
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 |
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
You can avail this loan from any financial institution but getting the same at Bajaj Markets will give you additional benefits like quick disbursal, home loan 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.
Yes, several institutions offer Home Loan for doctors at a low-interest rate.
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.
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.
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.