ApnaLoanBazaar Main Menu

Personal Loan +

Personal Loan +

Personal Loan Offers

Check Your Personal Loan Eligibility

Personal Loan EMI Calculator

Home Loan +

Home Loan +

Home Loan Offers

Check Your Home Loan Eligibility

Home Loan EMI Calculator

Business Loan +

Business Loan +

Business Loan Offers

Check Your Business Loan Eligibility

Business Loan EMI Calculator

Mortgage Loan +

Mortgage Loan +

Mortgage Loan Offers

Check Your Mortgage Loan Eligibility

Mortgage Loan EMI Calculator

Doctor Loan +

Doctor Loan +

Doctor Loan Offers

Check Your Doctor Loan Eligibility

Doctor Loan EMI Calculator

Credit Card +

Credit Card +

Credit Card Offers

Apply For a Credit Card

Educational Loan +

Educational Loan +

Educational Loan Offers

Check Your Educational Loan Eligibility

Educational Loan EMI Calculator

Basic Financial Tools +
Basic Financial Tools +

Home Loan Balance Transfer
Mortgage Loan Balance Transfer
Fixed Deposit Balance Transfer

Resources +
Resources +

Ask Our Community
Blog
IFSC Finder
Loan FAQs

Apna Loan Bazaar +
Apna Loan Bazaar +

About us
Branches
Privacy Policy
Terms and Conditions
Join Our Team

ICICI Bank Doctor Loan in Salem

Interest Rate starts from 12.50%

ICICI Bank Doctor Loan Interest rates in Salem

Please Find the Detailed ICICI Bank Doctor Loan Interest Rates

Up To 10,00,00010,00,000 Above
Salaried12.50%13.00%
Self Employed Professional Doctor12.75%13.25%

Features of ICICI Bank Doctor Loan Salem

Type Features
Processing Feeupto 2.25%
Pre Closure ChargesNil
Part Payment ChargesAllowed
Min Tenure1 Years
Max Tenure5 Years
Min Age24 Years
Max Age55 Years
Min Loan AmountRs.5,00,000/-
Max Loan AmountRs.30,00,000/-

ICICI Bank Doctor Loan Salem Charges

Type Charges
E M I Bounce ChargesRs. 500 per Bounce+S.T
Penal Interest@24% Per Annum
Duplicate Statement ChargesFree
Insurance CoverUpto Loan Amount
Cheque Swapping ChargesRs. 500
Issue Amortization Schedule DuplicateRs. 200
N O C Issuance ChargesFree
Duplicate N O C Issuance ChargesNil
Loan Cancellation ChargesNil

Documentation For Doctor Loan

  • Filled Application form
  • Identity Proof (PAN CARD)
  • Qualification Proof
  • Address Proof
  • Own House Proof
  • Latest 3 months Pay-slips
  • 2 Passport Size color Photographs
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Filled Application form
  • Identity Proof
  • Address Proof
  • Qualification Proof
  • Last 2 years Income Tax Returns
  • Professional/Self employed existence proof for more than 3 years
  • 2 Passport Size color Photographs
  • 6 months Bank Statements
  • Filled Application form
  • 3 Post Dated Cheques/ECS Mandate
  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification
  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)
  • Passport
  • Telephone bill (BSNL/MTNL)
  • Electricity bill
  • Title deed of property
  • Rental agreement
  • Driving license
  • Election ID card
  • Photo-credit card (with last two month statements)
  • Form 16 (For Individuals)
  • Appointment Letter (for last two months)
  • Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
  • Bank statements of latest 2 months
  • 3 months bank passbook
  • Graduate or Post Graduate qualification certificate
  • IMA (Indian Medical Association) membership number
  • Any other registrations allowed by Indian Government.
  • Sale deed of Property with own name
  • Property Tax receipt with own name
  • Electricity bill with own name

ICICI Bank Doctor Loan FAQ's

About ICICI Bank

ICICI Bank Limited (the Bank) is a banking company. The Bank is a diversified financial services group offering a range of banking and financial services to corporate and retail customers through a variety of delivery channels. The Bank operates in the segments: retail banking, wholesale banking, treasury, other banking, life insurance, general insurance and others.

The Bank provides a range of commercial banking and project finance products and services, including loan products, fee and commission-based products and services, deposit products and foreign exchange and derivatives products to corporations, middle market companies and small and medium enterprises in India. Its commercial banking operations for retail customers consist of retail lending and deposit taking and distribution of third party investment products. It also offers agricultural and rural banking products.

ICICI Bank Highlights

ICICI Bank was ranked first in ‘The Brand Trust Report, India Study 2016’ done by Trust Research Advisory (TRA) under the BFSI category
‘Best Retail Bank in India’ in Asia Pacific, at the Asian Banker Excellence in Retail Financial Services International Awards 2016.
‘Best Employee Engagement Initiative’ Middle-East and Africa at the Asian Banker Excellence in Retail Financial Services International Awards 2016
IBA Banking Technology Awards 2016 in the category of 'The Best Use of Technology to Enhance Customer Experience'
ICICI Bank won the 'Global Safety Awards 2016' organised by The Energy and Environment Foundation
ICICI Bank won ‘Best Private Sector Bank’ under ‘Global Business’ category at the ‘Dun & Bradstreet Banking Awards 2015

About Other Banks

Doctor Loan Can Be Used For Many Purposes Like Below

For a New Clinic

Buying New Equipment

For starting a new Specialization

Improvise clinical Laboratory

Increase the bed Capacity

Regular Hospital Maintenance

Setting up a new Pharmacy

Renovation of Clinic

Who are Eligible For Doctor Loans?

1) What is Doctor Loan?:-

The Doctor Loan Program is a specific loan with special underwriting developed specifically for medical physicians and dentists, optometrists, podiatrists, and veterinarians. Most doctors are looking for loans with low interest rates that enable them to move on to the growth. This scenario poses many challenges for most lenders because most physicians would be qualifying for the best rates given the type of loan they need. Banks try to do these loans with competitive rates and with less time.

Physicians with high credit scores have a very low risk of default on loans, even if they have high debt. Hence, the doctor loan program was started to give physicians access to improve his service levels.

Following are eligible for Doctor Loans:

MBBS, BDS Graduate Doctors - Minimum 5 years of experience (Post qualification)

MD, DM, MS, MCH, MDS Post Graduate Doctors having Minimum 4 years of Experience (Post qualification)

Individual doctors employed with reputed Government or Private Hospitals in India

Self employed doctors who own a hospital, a nursing home, a Clinic in India.

Consulting doctors with leading hospitals in metro cities in India.

Hospitals in form of Proprietorship/Partnership and Private Limited companies

Eligibility and Documentation For Doctor Loan

Vintage of Residence: Residence should be owned in the City or Hospital should be owned in the City for Min of 1 year.

Interest rates: Rate of interest will be floating rate of Interest, generally linked with the base rate of the banks, Present Scenario the Rate of Interest will be 15 % to 21.0 %.

Rate of Interest will be based on bank/financial Institutions internal policies and terms. Generally Bank account conduct, reputation of the entity, repayment capability, credit history, Promoters Back ground and other credit related factors which can be evolved for Doctor Loans.

Limit: Doctor Loans can be availed from Rs. 5 Lakhs to Rs. 75.0 Lakhs

Age: Minimum of 26 years and Maximum of 60 year on maturity of the Loan amount.

Tenure: 12 - 48 months

Doctor Loan Pros

Easy availability: A lot of banks offer Doctor Loans of various amounts and max duration for 4 years. You can pick and choose between them.

No collateral: Doctor Loans are not very large amounts. So there is no need to put up security or collateral against personal loan.

Quickly available:If you have a relationship with a bank you can get a personal loansanctioned within 24 hours. Personal loans also require very little paperwork.

Doctor Loan Cons

High interest rates:  After credit cards, personal loans have the highest interest rates among credit products. Sometimes personal loans have higher rates than credit cards also.

High pre-payment penalty:  If you pre-pay your personal loans, banks often charge a high penalty.

Need good credit history: Today, most banks give personal loans only to people with a good credit history. If someone regularly takes personal loans, he may be seen as someone who is not careful with his finances.

Affects credit report: If you default on your Doctor Loan your CIBIL credit report reflects it and your credit rating and credit score are affected.

Expert Advice

Best Practices for Doctor Loan

Clear Identification of purpose and planned Budget.
Cost - benefit analysis.
Peer comparison- ROI, PF and other charges and repayment Tenure.
Know your credit history score and eligibility.
Plan the repayment from the regular incomes than from futuristic/speculative income.
Check various other alternatives before availing a loan.
Be clear on payment date and mode of payment like ECS, Online payments, Post dated cheque.
Terms and conditions to be clearly understood before signing up the agreement.
Take payment protection insurance.
Ensure proper updation of contact details.

Things not to do for Doctor Loan

Do not jump to apply a loan with our proper homework.
Do not borrow more than what is required.
Do not apply loan at too many places at a time.
Do not sign the terms and conditions without reading.
Do not rush with the process.

Important points to be remember for Doctor Loans

As a experienced individual doctor, you need to avail a doctor loan funds so as to open a clinic and begin practicing. There are certain eligibility situations that need to be noted while avail the Doctor Loans.

1) Eligibility Criteria:
All medical professionals whether technicians or medical doctors, who completes 5 years of experience stand eligible for receiving doctor loans. An individual working in a medical occasion administration division can even apply.
2) Functionality:
The aim of this facility is to meet the working capital requirement of medical doctors to run a clinic. It is usually meant to buy premises for opening a health center. The loan can also be largely useful for the acquisition of equipments, furniture, fixtures and doing repairs and renovation of business premises. This fund is most often used for launching new business and to make enhancements of an existing health center.
3) Loan Amount:
The amount acquired as loan will be large or small relying on the business needs. The loan officer has to tell concerning the loan amount to medical doctors and relying on the business sort, awards are made to entrepreneurs. The fund acquired clearly defines the enlargement alternatives doctor loan.
4) Tenure:
“The term for this sort of small business loans isn’t kept greater than four years. So, professionals receiving this award must return it in time. There is no procrastination of the term. So, all the pieces must be done throughout the stated time period. There is no need to wait for the final moment and repayments of the borrowed cash should be done on the earliest.
4) Pricing:
“Interest is linked to the bottom rate. So, usually a typical interest is charged and not a very high interest levied on borrowers. This type of interest is basically vital and it seals the loan pricing. So, the lender can’t fluctuate the value and it stays the same for everyone. Thus, you will need to verify the bottom fee of a lender as relying on it, the interest rate will be determined.

Purpose of Doctor Loans

Doctor loans can be avail for the following reason from the Banks and Financial Institutions.

1) Setting up a Clinic:
Large clinics can be established with doctor loans. It is necessary for entrepreneurs to stay up-to date and use fund support to establish an affluent clinic. By setting up such a clinic, it becomes easy for professionals to offer good treatment to visiting patients and do general good to the society at large. Physicians can also open a health centre at any location and use the place for offering service to the sick. Such centers then become the source of income for a doctor and other employees who work in the centre. So, new clinics can also become employment generators.
2) Buying New Equipments:
 In medical practice, equipments are quite essential, so doctors who are in practice, need to buy the best equipments to run their clinic. For this very reason, physician financing becomes essential. The reward received can be good enough to buy new equipments and so a health centre can do well. It is really important to buy the best equipments and the ones that are mostly required for clinical operations. They come expensive and so funds are inevitable to buy the equipments needed to run a health centre.
3) Working Capital requirement including stock of medicine/disposables::-
A medicine store is also required in a health centre. There are expenses involved in maintaining such a store also. The reason is medicines should be purchased and all other requirements should be fulfilled. That is to say the store should be kept up to date all the time and it is possible only with fund release. Physicians should apply for Doctor Loans to keep their health centre well equipped and its drug store stacked with all medicines. So, to apply for funds is very much needed and an enterprise can really do well with the support it finds.
4) Setting X-ray lab::-
A health centre also requires an X-ray lab because X-ray is something that needs to be done frequently. Visiting patients have a need to get their X-rays done in the health centre itself without having to go to some other place. That is why X-ray lab becomes so important for a clinic owner. Doctor loans should be procured for setting up of such a lab in the health centre itself.
5) Expansion/Renovation/Modernization of Premises: -
Looks have got a lot to do with clinics. Professionals should strive to give a better look of the clinic that one is in possession of. Only then patients will get attracted and would love to visit the centre for their treatment. Everyone wants to be in a clean place and in case of clinics this factor is of prime importance. Professionals should focus on modernizing their clinics.

About Salem

Salem is situated in Tamil Nadu. The region is surrounded with hills and landscapes that are dotted with hillocks. The word 'Salem' has been derived from Sela or Shalya, which refers to a country around the hills. As per local beliefs, Tamil poetess Avvaiyar was born in Salem. It is the fifth largest city in Tamil Nadu. Yercaud is a hill resort in the city that was once surrounded by Kadu forest. It is also considered as the least expensive hill station in the country.

The city is famous for handlooms, especially silk and cotton production. It is one of the main textile centres in the state and comprises more than 125 spinning mills and garment manufacturing and weaving units. Recently, the Government of India has recognised it as a Textile Export Zone. There is a unit of the Steel Authority of India Limited (SAIL) in the region - Salem Steel Plant, which is involved in the production of stainless steel and carbon steel. This area is also rich in mineral ores with one of the largest deposits of bauxite and magnesite in India. Salem is home to many renowned companies like Nandhi Dall Mills, which one of the oldest flour mill companies.

Top Cities Loan Offers

Other Cities Loan Offers

Places To Be Visited In Salem

Kiliyur Falls

    Kiliyur Falls is an untouched water fall situated on the Shervarayan range, Eastern Ghats. Kiliyur Falls is a pristine and by nature enthusiasts and who throng the location during the peak season period every year. The waters over flowing the Yercaud Lake drop 300 feet or 90 metres in to the Kiliyur valley region.

Kolli Hills

    Located in Tamil Nadu, Kolli Hills is an imposing natural formation towering some 1300 metres above mean sea level. It takes around 70 odd hair pin bends to ascend to the highest vantage point of Kolli Hills.

Yercaud Hills

    Yercaud is one of the renowned hill stations in Tamil Nadu and also the most preferred tourist place in Salem, which is located around 20 kilometers from the city. These hills are an extension of the Shervarayan range on the Eastern Ghats located at a height of 1500 meters or close to 4900 feet above mean sea level. The hill scape is also known for its orange groves and coffee plantations in addition to a orchidarium operated by Botanical Survey of India.

Hogenakkal Falls

    At this point in Hogenakkal, the wide stream of the Kaveri River forks out. It forms an island from where one stream continues and drops down into a deep gorge to create a fantastic water fall. From the water spray of this fall rises a droplet cloud resembling a screen of smoke hence the name, Hogenakkal (Hoge denotes smoke and Kal denotes rock), smoking rock.

Mettur Dam

    The name Mettur denotes a town with troughs and crests. The place got its name on account of the undulating rocky nature of the landscape. This makes the town an ideal location for the dam constructed on the Kaveri River, the lifeline of Central and North Tamil Nadu. The Mettur dam is a large and the oldest dam in India built-in the year 1934.

Panamarathupatti Lake

    This is a natural lake located near a village called Panamarathupatti situated very close to the suburbs of Salem City. This lake is used to meet the water needs of some parts of the southern suburbs of Salem City as well as for the agricultural farm lands around the lake. The total area covered by this lake is around 500 acres.

Total Number Of Branches In Salem (384)

02-05-2019, 14:33
State Bank of India customers can operate without minimum balance restrictions
State Bank of India small and basic savings bank deposit accounts do not restrict the account holder to maintain a specific average of daily balances in a month.
Read More
08-04-2019, 11:56
State Bank of India offers linking PAN and Aadhaar to SBI account online
State Bank of India enables its customers to add their PAN (Permanent Account Number) and Aadhaar account number and Aadhaar details to their bank accounts through its internet ban ...
Read More
02-04-2019, 15:01
Fixed Deposit interest rates to the tune of 5.75-6.85 percent to the general public and to senior citizens across three categories
State Bank of India pays fixed deposit interest rates to the tune of 5.75-6.85 percent to the general public and to senior citizens across three categories.
Read More
01-04-2019, 14:51
State Bank of India levies a fine of Rs 5-15 from savings account holders failing to maintain the required balance
State Bank of India charges a penalty amount ranging from Rs 5 to 15 (Excluding GST) from savings bank account holders failing to maintain the specified balance.
Read More
18-03-2019, 12:06
State Bank of India Cash Withdrawal Limits
State Bank of India ATMs enable customers to withdrawal up to a daily limit of Rs 40,000. This limit is applicable on Classic Debit card. Higher value cards permit daily withdrawal ...
Read More
21-12-2018, 12:59
To activate new State Bank of India ATM card, Register for net banking online or ATM centre
State Bank of India internet banking subscribers can make use of a number of tools available online through the internet banking portal. In order to activate a new ATM card online, ...
Read More

Our Loan Partners

Cities We Serve

Our Loan Products

Need Help ?

040 6555 5578

Let Us Help You

KEEP IN TOUCH

Member of

© Copyright 2013-2017, ApnaLoanBazaar.com. All Rights Reserved.