Comparison: Doctors’ Loan Which Is Better?
Borrowing money isn’t as bad as it sounds, as long as long as it’s done responsibly and, of course for the right reasons. Personal loans are one of the many types of loans that you can borrow from the bank or from a private lender. These loans are typically general purpose loans that you can use at your discretion. However, only a few actually know that there are loans specifically created and structured to professionals such as doctors.
Yes, there is a thing called personal loan for Doctors. These loans are being offered by commercial banks and private lenders in the Philippines to help doctors meet their financial needs, such as setting up their own clinic, purchasing medical equipment or even for personal use.
As a doctor, it can be a struggle to look for the right loan solution for your needs, choosing the most suitable option can be daunting. Now, if you have been on the lookout for personal loans designed and catered to the financial needs of doctors, we got you covered.
Doctors’ Loan Comparison
We’re making it simpler for you to choose. You can compare Doctors Loan offers from different institutions by looking at the table below.
| Lender | Global Dominion Financing Inc. | Commercial Banks | Online Lenders |
| Product | Doctors’ Loan – Physician– Dentist– Veterinarian– Optometrist |
Doctor’s Loan | Personal Loan for Doctors |
| Loanable Amount
(In Peso) |
50,000.00 – 1,000,000.00 | 50,000.00 – 1,000,000.00 | 10,000.00 – 500,000.00 |
| Interest Rate | 1.75% / Month | 1.1%-1.39% / Month | 4% / month |
| Loan Term and Mode of Payment | 12-24 Months
NO PDC |
12-36 Months
With PDC |
6 Months
With PDC |
| Processing Time | 4 hours – 1 day | 10 Business Days | None stated. |
| Qualification |
– No income requirement. – No minimum years of practice. – Up to 65 years old. |
– 30,000 minimum monthly income. – Up to 55 years old. |
– 25-64 Years old – Practicing MD for at least 2 years |
| Documentary Requirements |
– Updated PRC ID – Latest 3 months bank statements – 1 valid Gov’t IDs – Latest and original electric or water bill – Business permit and DTI for clinic owners |
– Updated PRC ID – 1 valid ID – Latest billing statement – Latest ITR – Latest 3 months bank statements – Income documents: a) COE issued by a Tertiary Hospital b) Patient’s ledger for the last 3 months For Clinic Owners: -2 years ITR and Audited Financial Statement -Business Permit -DTI – 6 Months bank statements – Trade references |
– Medical Facility ID – PRC ID – Proof of billing – Latest ITR – PDC with clearing date older than 1.5 years – Validated deposit slip not older than 1 week. |
Ready to take up a Doctors Loan?
Like any normal individual, doctor’s also have planned and unplanned financial needs. Having the lowest interest rates may not always be the best option. This is the beauty of being able to compare Doctors’ Loan offers across different lending institutions. Ready to apply for a GDFI Doctors’ Loan? Here are our Top 5 Reasons to Apply For a Doctors Loan.
Why Choose GDFI Doctors’ Loan
What makes GDFI’s Doctors’ Loan stand out from all other providers listed here, is that fact that we have been providing loans for medical professionals since 2003. Doctors’ Loan is one of our core offerings, and with deep understanding of doctors’ cash needs, we designed our products to meet your financing requirements.
Here, at GDFI, we are confident that no other lender can take care of your borrowing needs. Our application process is straightforward and hassle-free. Apply here, and a dedicated loan advisor will walk you through the process. With minimal documentary requirements, and you can get an approval within the day. The best part about the entire process is that you don’t need to leave your practice, we will deliver the funds right at your clinic.
