To found an existence, about 80 percent of them need funding within Germany and this often includes doctors. Partly for private reasons and partly for professional reasons, for example, when a practice is opened. Although the fees in this professional group are sometimes very high, but for high-quality goods or a real estate acquisition here also financing is needed. The loan approval depends on the loan for doctors from the employment relationship.
A practice is never cheap and therefore some doctors face a financial problem. There is a special loan for doctors and there are still different options. A doctor may receive a doctor loan with fixed interest or a civil service loan in the form of doctors. There are already some banks that offer credit for doctors with good terms and favorable interest rates. After the costs and conditions are sometimes very different, however, a comparison can not hurt. If a loan is obtained then it can be used for a practice or for private purposes.
An independent doctor
In general, it is not easy for self-employed people to lend, and so do the doctors. The requirements of the lenders are high and it is usually always required a regular income from a permanent employment. It is important for a lender that the ability to service the capital is right. The self-employed doctor has no regular income and only rarely is a loan for doctors thus forgiven.
An employed doctor
If doctors have a steady income, it will be much easier for them to get a loan for doctors. A credit approval is nothing in the way, even if there are no negative entries in the credit bureau.
The requirements for the medical loan
If the doctor is self-employed, then lenders often demand that this self-employment exists for two years. It will then require a determination of the past years and the credit bureau information may only have positive entries. It is always important that the loan can be repaid to physicians and for that reason the practice should be very good.
The tax burden on the medical loan
For the credit for doctors, there are two different options, namely the doctor loan and the practice loan. A doctor’s loan is here combined with a life insurance policy and the practice loan has monthly installments. The doctor’s loan is often chosen if high tax receivables are to be expected. It is interesting that during the term interest rates are stable and they are tax deductible. Thus, a big tax advantage is gained and a lot of money is saved. With the practice loan it is important that the rates for repayment are not deductible. The tax burden increases and interest rates fall.