• Qualified registered medical practitioner / dentist between 25-60 years of age.
• Or a Firm engaged in medical profession and having doctors / dentist as proprietor or directors.
• Minimum experience (practice) of 3 years.

• Minimum of Rs. 2 Lakhs

• 25% of the total cost of the asset to be purchased out of Bank’s finance

• Moratorium period of upto 6 months**

• Repayment period of up to 7 years

• Please click here to know our latest rate of interest
• The applicable processing charges are 0.50% of the loan amount

• There is NO prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources
• A penalty of 2% on the average balance of the preceding 12 months, if the loan is taken over by any other Bank /FI or adjusted by the borrower in lumpsum from any third source/party (except genuine sale).

• Hypothecation of equipment or the item proposed to be purchased out of bank's finance.
• Collateral security to the tune of 50% of the loan amount.
• In case of acquiring premises, equitable mortgage (EM) of the premises.

• Third party guarantee is not mandatory**

• Insurance of the asset purchased out of bank's finance and that of collateral security is mandatory.

• Certificate evidencing medical qualification
• AIMA registration document
• Proof of identity (any of the following)
  1. Passport
  2. PAN Card
  3. Any other valid proof


• Proof of address (any of the following)
  1. Electricity bill
  2. Telephone bill
  3. Ration card
  4. Any other valid proof


• PAN Card.


• Last 12 months bank statement.


• Quotation of equipment or sale deed of premises.


• Proof of income
  1. For salaried class 
     1. Last one year ITR
     2. Form-16/ letter from Employer
     3. Last 6 months salary slip
  2. For non-salaried class 
     1. Last three years ITR
     2. P & L Balance sheet


• 3 photographs


• Proof of out-goes
  1. Loan repayment statement, if any
  2. Valid proof of any other out-go


• Details of collateral security


• Any other document required as per the application form

1. 75% of the total cost of the asset to be purchased out of bank’s finance (equipment, premises, etc.)

1. Rs. 2 Lakhs.

• Through standing instruction to your Union Bank of India savings account to directly remit the EMI amount to your loan account.
• Through internet banking facility available on your Union Bank of India savings account.
• ECS (Debit) facility.
• Post Dated Cheques (PDCs).

Please see the Forms & Documents Tab above for information on the list of documents required

• Application - Whereby you submit a completely filled in application with all necessary documents.
• Sanction - Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities
• Disbursement - Whereby the loan amount is disbursed.

• You can visit any of our special retail lending branches called Union Loan Points (ULPs). To locate a ULP, click here
• You can visit any of our branches. To locate a branch, click here
• Request for a contact online
• You can also contact our 24 x 7 Call Centre