Public Sector Bank (PSU)Machinery & Equipment FinanceSmall Enterprise (Investment ≤ ₹10 Cr)🛡️CGTMSE CoveredVerified: 2026-09-29

Canara Doctor Choice MSME Facility

Primary Lending Institution:Canara Bank

₹5 Lakh to ₹10 Crore MSME credit at 8.45% – 9.60% with Up to 10 years tenure.

Interest Rate8.45% – 9.60%Linked to EBLR / MCLR / Risk

Loan Amount Quantum₹5 Lakh to ₹10 CroreBased on turnover & project cost

Repayment TenureUp to 10 yearsWith moratorium where applicable

Collateral SecurityBorrower must possess recognized medical degree (MBBS, MD, MS, BDS) and MCI/state medical council registration.

What's Missing: Crucial Fine-Print & Exclusion Gaps

Borrower must possess recognized medical degree (MBBS, MD, MS, BDS) and MCI/state medical council registration.

Note: Eligo publishes these regulatory and commercial exclusions directly from bank product guidelines and CGTMSE rules to protect MSME applicants from unexpected fee debits or loan rejection surprises.

What is Canara Doctor Choice MSME Facility?

Dedicated credit line for medical doctors, dentists, and radiologists to establish clinics and purchase diagnostic equipment.

Key Benefits & Features

High loan quantum; lower interest rates; extended repayment tenure up to 10 years; zero collateral up to ₹2 Crore under CGTMSE.

Government Subsidy & Credit Guarantee Coverage

CGTMSE / Bank Guarantee / Normal Security

Enterprise Eligibility Criteria

Qualified medical professionals setting up healthcare practices.

Business VintageNew & Existing units eligible

Min. Annual TurnoverTurnover proportionate

Processing Fee0.25% + GST

Prepayment TermsZero prepayment penalty on floating rate loans as per regulatory norms

How to Apply (3 Verified Paths)

💼Path 1: Current Account Portal

Apply online via business net banking or approach loan account manager.

🌐Path 2: Official FinTech / Govt Portal

Apply online at https://canarabank.com/doctor-choice with digital KYC and financial statements.

🏢Path 3: SME Banking Center Walk-In

Visit nearest MSME branch of the institution with business registration and bank statements.

Eligo does not collect business loan applications or financial data. Apply directly on the verified official domain:

Visit Official Portal↗

Documents Required Checklist

Udyam Registration Certificate, PAN, Aadhaar, Last 2 years ITR and financial statements, 12 months GST returns, 6 months bank statement.

Frequently Asked Questions

What is the maximum loan tenure and amount for Canara Doctor Choice MSME Facility?

Borrowers can avail ₹5 Lakh to ₹10 Crore with a repayment tenure of Up to 10 years.

What are the processing charges and collateral terms for Canara Doctor Choice MSME Facility?

The processing fee is 0.25% + GST. Collateral terms: Borrower must possess recognized medical degree (MBBS, MD, MS, BDS) and MCI/state medical council registration.

What are the eligibility criteria for Canara Doctor Choice MSME Facility?

Qualified medical professionals setting up healthcare practices. Minimum business vintage required is 0 year(s).

How can an applicant apply for Canara Doctor Choice MSME Facility?

Apply online at https://canarabank.com/doctor-choice or visit nearest branch with KYC, Udyam registration, and bank statements.