Faqs - L&T Finance

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Who is eligible for a Doctor Loan?

Here are the eligible for a Doctor Loan:
Age: 24 - 65 years
Business Turnover: ₹80 Lakh – ₹250 Crore
Business Vintage: Minimum 3 Years
Bureau History: At least 6 months

What are the different types of Doctor Loans?

Doctor Loans cover multiple purposes such as clinic setup loans, medical equipment financing, and working capital loans for ongoing expenses.

What documents are required to apply for a doctor's Business Loan?

The list of documents for a Doctor Loan includes KYC documents (PAN Card, Aadhaar Card, etc.), income documents (IT Returns, GST Returns, P&L Statement, Balance Sheet), bank account statements, and qualification documents like a degree certificate and certificate of practice.

Can I get a Professional Loan for a doctor if I have a low credit score?

While a good credit score improves your chances, having a low score doesn't necessarily disqualify you. You can still get a loan. Contact our customer care representative to know more.

What are the benefits of taking a Professional Loan for doctors?

Benefits include high loan amounts, competitive interest rates, no collateral requirement, flexible repayment terms, and quick disbursal.

Can I apply for a Doctor Loan with a co-applicant?

Yes, you can apply for a Doctor Loan with a co-applicant to set up your clinic. This can sometimes improve the chances of loan approval and may offer better terms.

What is the maximum amount available under a Business Loan to a doctor?

The maximum loan amount available under a Business Loan for doctors is up to ₹75 lakhs, providing substantial funds for various professional needs.

What is the maximum tenure for a doctor professional for a Business Loan?

The maximum tenure for a loan for MBBS Doctors is up to 60 months, allowing for manageable monthly repayments.

How can I track the status of my doctor's loan application from L&T Finance?

Through the L&T Finance Planet App, you can track your Loan Application Status in real-time. Regular updates are provided to keep you informed about the progress of your application.

Are there any tax benefits associated with a Doctor Loan?

Interest paid on a Business Loan for doctors can often be claimed as a business expense, potentially reducing taxable income. It's advisable to consult with a tax professional to understand specific benefits.

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