If you are a doctor and are looking for a professional or personal loan, there is some good news for you. India’s second largest public sector bank – Punjab National Bank (PNB) is providing two wheeler loans exclusively to doctors under the scheme ‘PNB Doctor’s Delight’.  

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This loan scheme is a personal loan scheme for doctors.  

Know how to avail it:  

1) Eligibility: Any professionally qualified practicing/serving doctors viz. MBBS, BDS and above, having Net Annual Income/Salary of Rs 5 lakh or above can apply for the loan. Doctors should be taxpayers for the last two years. 

2) Borrower should have a continued occupancy at current place of residence for a minimum of 2 years. This condition is not applicable in case of doctors who are employees of Government/Institutions. 

3) A minimum amount of loan that can be availed is Rs 200,000 while the maximum amount is Rs 15 lakh or 20 times monthly gross salary/income whichever is lower depending upon the repaying capacity. 

4) Security: Suitable third party guarantee acceptable to the Bank or tangible collateral security of the value of 100 per cent of loan amount. 

5) Maximum repayment period: For term loan, the entire loan should be repaid within remaining period of service or in maximum 84 equated monthly instalments (EMIs). Repayment to start one month after disbursement of the loan. For overdraft, limit will be adjusted within a maximum period of 84 months by reducing Drawing Power (DP) equivalent to EMI amount at the beginning of every month.  

6) Interest Rate: The bank website says that the interest charged on the PNB Doctors Delight loan will be as follows: RLLR + 2.15 per cent. Where RLLR is Repo Linked Lending Rate. 

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7) Processing fee and documentation charges: The processing fee for PNB Doctor’s Delight loan will be 0.90 per cnet of loan amount + taxes. The documentation charges will be Rs 450 + taxes.