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For the establishment of a business about 80 percent within Germany need financing and this often includes the doctors. Partly this has private reasons and partly also professional reasons, for example when a practice is opened. Although the fees in this professional group are sometimes very high, financing is also required here for high-quality goods or a real estate purchase. The credit approval depends on the employment relationship for the credit for physicians.
A practice is never cheap and therefore some doctors face a financial problem. There is a special credit for physicians and also thereby still different possibilities. A doctor can get a doctor's loan with a fixed interest rate or a civil servant loan in the form for doctors. There are already some banks that offer a loan for doctors with good conditions and favorable interest rates. After the costs and conditions are partly very different, however, a comparison can not hurt. If a loan is then obtained, it can be used for a practice or also for private purposes.
An independent physician
In general, self-employed people do not have it easy when it comes to lending, and thus doctors do not have it easy either. The requirements of lenders are high and, as a rule, a regular income from a permanent employment relationship is always required. It is important for a lender that the ability to service the debt is correct. The self-employed doctor has no regular income and only rarely is a loan for doctors thus granted.
An employed doctor
If the doctors have a regular income, then it is much easier for them to get a loan for doctors. Nothing stands in the way of a credit approval, if there are also no negative entries in the Schufa.
The requirements for the physician credit
If the doctor is self-employed, then the lenders often require that this self-employment has already existed for two years. Required is then a profit calculation of the past years and the Schufa information may only have positive entries. It is always important that the loan for doctors can be repaid and for this reason the practice should run very well.
The tax burden with the physician credit
For the loan for doctors there are two different options, namely the doctor loan and the practice loan. A doctor loan is at this point combined with a life insurance and the practice loan has monthly installments. The doctor loan is often chosen when high claims from taxes are to be expected. Interesting is that during the term of the interest is stable and these are also tax deductible. Thus, a great advantage is gained in taxes and some money is saved. With the practice loan it is important that here the rates for the repayment are not deductible. The tax burden increases and the interest decreases.