Canara Bank Personal Loan for Doctors

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Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

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Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Doctors can now choose the Canara Bank Doctors personal loan to apply for a loan specially designed to meet their needs. This personal loan scheme has been specially designed for doctors to help them meet their professional and personal financial needs. The Canara Bank Personal Loan for Doctors offers loan amounts ranging up to 5 Cr at an attractive interest rate with a flexible repayment tenure of up to 7 years. The loan can be used to cover various expenses such as purchasing medical equipment, renovating a clinic, and financing the construction of a new clinic. Doctors who meet the eligibility criteria can avail of the loan by submitting their proof of income, educational qualification, and other documents. The loan scheme also offers a quick and hassle-free application process.

Canara Bank Personal Loan for Doctors – Highlights

Here are the highlights of the Canara Bank Doctors Personal loan.

Feature	Description
Interest Rate	Starting from 10.80%
Loan Amount	Maximum up to 5 Cr
Tenure	12-84 months
Any Hidden Charges	No hidden charges

Comparing Canara Bank Doctor’s Loan with other Banks

Canara Bank is known to offer the most competitive interest rates in the market. Here is a comparison between Canara Bank Doctor’s Personal loan interest and other leading banks in India.

Feature	Canara Bank	SBI	PNB	Axis Bank	HDFC Bank
Interest Rate Minimum	10.80%	11.15%	10.40%	10.49%	10.75%
Interest Rate Maximum	11.55%	15.30%	11.40%	11.40%	12.50%

Canara Bank Personal Loan for Doctors – Fees and Charges

The Canara Bank Doctors instant loan is one of the most lucrative choices for fulfilling new endeavours, such as setting up a new medical centre or buying medical equipment. Here are Canara Bank Doctors personal loan details about fees and charges.

Type of Fee	Applicable Charges
Upfront Fee	Upto Rs.5 lakhs: Nil Above Rs.5 lakhs: 75% of normal charges
Processing Charges	Upto Rs.5 lakhs: Nil Above Rs.5 lakhs: As per extant guidelines
Foreclosure Charges	No charges for loans with floating interest rate.

Canara Bank Personal Loan for Doctors – Documents Required

It is very easy to apply for a Canara Bank Doctors personal loan online. Here is a list of Canara Bank Doctors Personal Loan Documents you need to apply for the loan.

Address Proof of unit.
License/permissions of applicant/site of the new clinic.
Financial papers for the last 3 years with ITR and projections.
Details of loan Guarantor with proof of assets (if applicable).
Copies of Degree certificate/ Medical Practitioner Registration issued by the competent authority.
Copies of tax assessment orders for individuals, partnerships, companies, directors, and key persons in trusts.
A copy of the license issued by a legitimate authority for setting up clinics, nursing homes, hospitals, etc.

Canara Bank Personal Loan for Doctors – Eligibility Criteria

Canara Bank has specific eligibility criteria for the Doctors Personal Loan. Here are the Canara Bank Doctors Personal loan eligibility criteria that applicants must meet to get the loan.

Applicants should not have a history of loan defaults.
Applicant should have an acceptable Credit Risk Rating or a co-guarantor with a good Credit Risk Rating.
All qualified registered medical practitioners with practical experience in any branch of medical sciences like allopathy, dental, Ayurvedic, Unani, and homoeopathy are eligible for the loan.
Individuals/Proprietors/Partnerships/Companies/Trusts can apply for the loan.