SBI Doctor Loan

SBI Doctor Plus scheme is not currently functional; however, SBI has launched Healthcare Business Loan to offer funds to qualified medical practitioners for setting up clinics and to meet various other healthcare and medical requirements. Healthcare business loan can be used for renovation, expansion and modernization of existing premises and much more. The loan amount offered under this scheme is from Rs. 10 lakh to Rs. 20 crores with repayment tenure up to 10 years. However, the interest rates shall vary depending upon business requirements and applicant’s profile. Below states are the key highlights of Healthcare business loan:

Healthcare Business Loan

Purpose

• For the purchase of medical equipment, such as ancillary equipment
• For dentists, the loan covers dental implants besides equipment
• For orthopaedists, the loan covers various replacements and implants for spine, hip, knee, shoulder, etc.)
• For setting up Hospitals/ Nursing Homes, diagnostic centre, pathology labs, drug store, ambulance, computers, vehicles, physiotherapy centres, ayurvedic centres, acupressure centre, yoga centre, other therapy centres under tie-up with/ employed qualified doctors.

SBI Healthcare Business Loan

SBI Healthcare Business Loan – Highlights
Eligible Entities	Individuals, Proprietorship Firms, Trusts, Partnership Firms and Corporates
Target Group	Hospitals and Nursing Homes, Diagnostic Centres and Pathology Laboratories, Eye Centres, ENT Centres Small and Medium size specialty clients, including skin clinics, dialysis centres, dental clinics, endoscopy centres, IVF centres, poly clinics, X-ray labs, etc.
Pricing	Competitive pricing linked to EBLR / 6 Months MCLR
Loan Amount	Min. Rs. 10 lakh & Max. up to Rs. 20 crore Cash Credit up to Rs. 2 crore
Repayment Tenure	Up to 10 years, including Moratorium period (Maximum moratorium 12 months)
Margin	Term Loan 15% Cash Credit 25%
Upfront Fee	50% concession on card rates
Collateral/Security	Loans up to Rs. 2 crore Nil collateral, if covered under CGTMSE/CGSSI Guarantee Fee to be borne by borrower For coverage under CGTMSE, partial collateral security model is also applicable as per extant CGTMSE guidelines Loans above Rs. 2 crore – Rs. 20 crore Minimum 25% SARFAESI enabled tangible collateral security

How to Apply: Business Loans for Doctors

Eligibility Criteria

• Applicant with minimum 2 years of operations of the diagnostic centre, pathological lab, hospital, nursing home, etc.
• Last 1 year ITR is mandatory
• Minimum qualification in various discipline, such as MBBS, BDS, BHMS etc. in case of financing to Nursing homes and hospitals
• Applicant should have obtained required approvals, registrations from the statutory, regulatory authority

FAQs

Q. Do banks offer loans for doctors?

Ans. Yes, both banks and NBFCs offer exclusive loans for doctors (self-employed professionals) at low interest rates. The loan amount shall vary as per certifications, practice tenure and business requirements. There are few financial institutions that offer business loans for doctors at concessional interest rates.

Q. How much loan can a doctor get?

Ans. The maximum loan amount offered for doctors is up to Rs. 50 lakh (collateral-free loan) from private sector banks. However, the loan amount shall exceed as per business requirements.

Q. What are the mandatory documents needed for a SBI Doctor loan?

Ans. The mandatory documents required to avail SBI doctor loan include applicant’s KYC (Passport, PAN Card, Aadhaar Card, Voter’s ID Card, Driving Licence), clinic address and vintage proofs, income proof, address proof, copy of certifications (MBBS, MDS, BDS, BAMS, BHMS, DHMS), etc.

Check: Business Loan Interest Rates and Charges of All Top Banks