Mahabank Loan Scheme for Doctors
The Mahabank Loan Scheme for Doctors is a specialised credit product offered by Bank of Maharashtra (often branded as “MAHA-DOC” or “Mahabank Loan Scheme for Doctors”). It is intended to help medical professionals (doctors) to start, expand or modernise their clinic, purchase equipment, or meet working capital needs for medical practice. The purpose is to provide accessible, tailored finance to qualified medical practitioners for capital expenditure (clinic setup, equipment, ambulance vehicle etc.) and also working capital / cash credit needs. This enables doctors to invest in infrastructure, modern tools, or scale operations.
Key Features
- Facility Types: The scheme supports Term Loans (for capital expenditure, setup, expansion) and Cash Credit (for working capital / day-to-day needs)
- Wide Loan Range: You can get a loan starting from ₹10 lakhs. On the upper side, the scheme allows up to ₹25 crores depending on requirement and project size.
- Margin Requirement: You will have to contribute from your side certain amount
- For amount below 2 crore - 15% to 20% of Term loan & 25% of Cash Credit
- For amount above 2 crore - 25% of Term loan & 25% of Cash Credit
- Interest Rate: The interest is pegged to the Bank’s RLLR (Repo Linked Lending Rate), making it variable based on changes in the repo rate. Also if you provide adequate collateral, you may be eligible for interest rate reduction benefits
- Repayment Tenure: Maximum up to 12 years for eligible projects.
- CGTMSE Coverage: For loan amounts up to ₹5 crore, coverage under the Credit Guarantee Fund for Micro and Small Enterprises (CGTMSE) may be available, meaning you may get collateral-free or reduced security requirements.
Financial Assistance
Eligibility Criteria
Who can apply:
- You must be a qualified registered medical practitioner holding qualifications such as MBBS, BDS, BAMS, BAHMS, BPT etc.
- You must have a minimum of 2 years of experience as a medical practitioner.
- You should be registered (with a medical board / registration body) as a practitioner.
- The project / clinic / hospital / medical facility should be viable and meet Bank’s assessment criteria.
- For CGTMSE cover, the business must meet micro/small enterprise criteria under CGTMSE norms.
Who cannot apply:
- If you are not medical practitioners
Documents Required
- KYC documents (Identity proof, address proof)
- Medical qualification certificate (MBBS/BDS/BAMS etc)
- Registration certificate as medical practitioner
- Project report / cost estimates / clinic plan
- Financial statements / past tax returns (if existing practice)
- Bank statements
- Collateral documents (if required)
- Licenses / permits (clinic / hospital / health registration)
Application Process for the Scheme
Option 1: Apply with Bullit (Recommended)
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Option 2: Direct via Bank of Maharashtra / MAHADOC Portal
- Visit Bank of Maharashtra’s website and navigate to “Loan Scheme for Doctors / MAHADOC / Mahabank Loan for Doctors.”
- Fill in the application form with personal, qualification, business plan (clinic/hospital), cost estimates, etc.
- Submit required documents (identity, qualification, business plan, financials, property papers, etc.).
- Bank will appraise the project, verify creditworthiness, inspect the proposed site if needed.
- Once approved, sanction letter issued, disbursement as per the project plan and drawdown schedule.
Option 3: At a Branch
- Visit your nearest Bank of Maharashtra branch.
- Ask for the “Doctor / MAHA-DOC Loan Scheme.”
- Submit the filled application and documents.
- Branch-level appraisal and forwarding to credit department.
- Sanction and disbursement through branch.
Power Combos with The Scheme
