5 Ways to Fix Your Doctor Loan Eligibility in India

Doctors have decent earning potential. Still, like any individual, they may go through financial stress, especially doctors with personal practice. Therefore, doctors may need financial aid in many situations. These medical professionals can get instant monetary support to fulfill their requirements and make their lives easier. 

It is a personal and business loan for doctors. Doctors can avail of high-value loans. Doctors loan interest rate with renowned non-banking financial institutions are competitive. 

Every applicant needs to meet the eligibility criteria to qualify for a loan. Even though doctor loans are available against basic and standard eligibility requirements, parameters vary across lending institutions. You need to go through these requirements beforehand for hassle-free fund availability. 

The Way to Fix Your Doctor Eligibility in India 

  1. Select a lender with basic doctor loan eligibility

You can look for an NBFC offering Doctor loans against minimal documentation. It can approve your loan application more easily. Easy parameters for doctor loan eligibility, are as follows: 

Qualification and Experience

  • Super specialist doctors (MD/DM/MS)
  • Graduate doctors (MBBS) 
  • Dentists (BDS/MDS) with the experience of 5 years
  • Ayurvedic and homoeopathic doctors (BHMS/BAMS) with experience of 2 years. 


Your CIBIL score shows a loan applicant’s creditworthiness and repayment capability. A credit score plays an important role in loan approval. You need to maintain a healthy credit score, i.e., 750+. It increases the loan approval chances significantly. 

  1. Repay all your dues and EMIs on time

Most lending institutions look for a high credit score above 750. If your credit score is lower, you need not worry. It can be fixed. The credit score is based on an individual’s repayment history. Credit card bill payments are also parameters that show your repayment history. Timely card bills will add to their creditworthiness and increase your credit score. A missed credit card or loan EMI can also impact your credit score hugely. The auto-pay EMI option is always a good option to avoid situations. Doctor Loan is available with flexible loan repayment tenure. The borrower can repay the loan in a long tenure of up to 8 years.  

  1. Retain old credit cards to lengthen your credit history

You may get an offer with an increased credit card limit. You can accept it to improve your score, but it is also important to retain your old cards. The duration of your credit history matters for lending institutions; therefore, closing your old credit card accounts is not a good idea. 

  1. Avoid taking too many loans simultaneously

Making frequent loan applications should be avoided. Multiple loan applications increase the chances of loan rejection. You can consider a lending institution you already have a good relationship with. It will reduce the chances of loan rejection, and your credit score will not be hurt.

  1. Apply with a co-applicant 

If you have a lower credit score, you can apply for a Doctor loan with a co-applicant. It can be your spouse, parents or another member of the blood relation.

Where One can Utilise Doctor Loans 

  • Buy or Lease Clinic 

The loan funds can be used to lease a clinic. If you want to set up a new clinic in a new area or relocate to a bigger space, a doctor loan can help.

  • Provide more medical services

If you want to increase the medical services in your clinic, you need new equipment and experienced staff. You can invest the funds in purchasing the required equipment or technology and meet the expenses of new staff to improve your business stability.

  • Maintain Clinic’s Working Capital 

Businesses need working capital to maintain their daily business operations. There should be enough liquid funds to operate daily clinic functions. If you feel a lack, you can avail of a business loan.

Or any business purpose, a doctor wants to meet with the loan.

Thus, improved eligibility criteria increase the chances of loan approval faster. Save your time by checking your eligibility beforehand and improving it before making an application to avoid loan rejection.

Read Also: How can you improve your credit score quickly?

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