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The Right Prescription for You - a Home Loan for Doctors

Posted last April 26, 2018, 3:27 am for in Business report article

Dr. Shruti Wahi, owns a hospital in Kanpur for more than 6 years, where she practices. Her hospital is equipped with all the latest and advanced technologies, as she has recently bought them for her hospital.

The only thing now she wished for is a home for herself, but she didn't have enough funds left to buy one. A friend of her suggested her to take a home loan which is especially made for doctors.

Dr. Shruti did not have enough information about the Home loan  for doctors for buying a home. She asked her friend to help her and provide all the details regarding a doctor home loan, as she really wanted to buy her dream house.

Her friend gathered all the pieces of information to help out Dr. Shruti and briefed her about the features and benefits of it and also the documents that are necessary.

In brief, she mentioned her the following points regarding its features and benefits:

Big amount of loan

To finance your dream home, you can get a loan amount up to Rs.2 crore. By utilizing this loan amount, you can easily build your empire, your own house.

The benefit of balance transfer

Most of the leading financial lenders provide the facility of transferring the balance from your existing home loan account to a beneficial home loan provider. If you are not satisfied with the services or interest rate of your existing doctor home loan provider, you can get your home loan transferred to a new home loan account with another loan provider.

The benefit of Flexi Loan

Under this loan facility, you can take the loan amount in small values, or you can consume the full loan amount in one take. You will be charged interest only for the amount you have used form your loan account. The interest amount you will repay will be in the form of EMI that you will pay on a monthly basis.


The tenor of a doctor home loan

The tenor of such a loan is usually wide, to make the repayment easy and convenient for you. The tenor ranges up to 20 years, which is large enough to fit your repayment reference.

Add-on facilities

You not only get specified benefits from the doctor home loan services, but also you get some added benefits and assistance from your lender. Most of the popular lenders assist you with discovering the perfect home to meet your requirements, right from search to purchase. Most of the lenders also provide you a property dossier which carries a report to make you aware of the financial and legal aspects of buying a home.

Online access to home loan account

For a doctors' convenience, the loan accounts can be managed online. You do not have to run to the bank for having an access to your account! You can and log in to digital customer portal of your lender and know the details on the go.

Personalised insurance scheme

To protect your family from financial difficulties during unforeseen events, a customized insurance scheme is offered when you take the doctor home loan. This insurance scheme is given for the payment of one-time premium.

Dr. Shruti understood all points mentioned by her friend and gave a thought to the loan offer. Her friend also mentioned in her conversation with her about the documents that she will need to get the loan.  

Here is a basic list of the necessary documents to take a doctor home loan.

You need to submit your KYC documents

Your medical registration certificate

Your income Tax returns, P/L account statement for the previous 2 years, and your balance sheet

A copy of the papers of the asset that you wish to mortgage

Dr. Shruti was convinced with the home loan information provided to her. She went online and apply for doctor’s home loan, as she couldn't wait to buy her dream home anymore!

The Bottom Line

If you are a doctor, and you wish to buy a home, but your budget is holding you back then don't worry as you can get the doctor home loan at an affordable interest rate. Now when you clearly know the benefits, you should go and apply for it online.