Doctor Loan
Personal Loan for Doctors Upto 40 Lakhs @ 10.50%*
Doctor Loan | Personal Loan for Doctors up to ₹40 Lakh* at an attractive interest rate of 10.50%* easy approval, flexible repayment options, & minimal paperwork
Get Instant
Approval
Direct Cash
Transfer
Lowest
Interest Rates
Minimal
Documentation
Key Features of Personal Loans for Doctors
- Higher Loan Amounts
Medical professionals are eligible for higher loan amounts, ranging from ₹5 lakhs to ₹40 lakhs, depending on the lender. This allows doctors to cover both personal and professional needs, whether it’s upgrading their clinic or consolidating debt. - Attractive Interest Rates
Given the stable and respected nature of the medical profession, lenders offer lower interest rates for personal loans for doctors. These rates often start at around 10.25% per annum, making it more affordable compared to regular personal loans. - Minimal Documentation
Unlike traditional personal loans, personal loans for doctors require less paperwork. Key documents typically include proof of identity (like Aadhaar or PAN), medical registration certificates, bank statements, and income proof (salary slips or IT returns). - Flexible Repayment Tenure
Lenders offer flexible repayment options ranging from 12 months to 60 months, allowing doctors to choose a tenure that fits their financial situation. This flexibility helps manage repayments without disrupting cash flow. - Fast Approval and Disbursement
With streamlined processes for medical professionals, many lenders approve and disburse loans within 24-48 hours. This quick turnaround ensures that doctors can access funds when needed, especially for urgent financial needs. - No Collateral Required
Most personal loans for doctors are unsecured, meaning no collateral or assets are required to secure the loan. This makes the application process faster and less complicated.
Eligibility Criteria for Doctors Personal Loan
| Eligibility Criteria | Details |
|---|---|
| Profession | MBBS, BDS, MD, MS, MDS, BHMS, BAMS, and other recognized medical degrees. |
| Experience | Minimum of 1 year post-qualification experience (varies by lender). |
| Age Limit | 25 to 65 years (may vary depending on the lender). |
| Minimum Income | ₹20,000 – ₹30,000 per month (depending on the lender). |
| Credit Score | Preferably 700 or above. |
| Employment Type | Both salaried and self-employed doctors are eligible. |
| Loan Amount | Up to ₹40 Lakh based on creditworthiness and income. |
| Nationality | Indian citizen. |
| Workplace Stability | Employed in a reputed hospital/clinic or running a self-owned clinic for at least 1 year. |
Bank Interest Rates for Doctor Loan
Banks
| Institution | Interest rates | Loan amount |
| DBS bank | From 10.99% | Upto 15 Lakhs |
| HDFC | From 10.5% | Upto 40 Lakhs |
| Axis Bank | From 10.49%` | Upto 40 Lakhs |
| ICICI bank | 10.75%-19% | Upto 40 Lakhs |
| Bank of Baroda | 10.75% – 18.5% | Upto 5 Lakhs |
| SBI | From 11% | Upto 30 Lakhs |
| IndusInd | From 10.49% | Upto 50 Lakhs |
| Yes Bank | From 10.99% | Upto 40 Lakhs |
| Standard Chartered | From 11.5% | Upto 50 lakhs |
| IDFC | From 10.49% | Upto 50 Lakhs |
| Kotak Mahindra | From 10.99% | Upto 40 Lakhs |
| PNB | From 11.40% | Upto 20 Lakhs |
| Bandhan bank | From 11.55% | Upto 25 Lakhs |
Bank Interest Rates for Doctor Loan
NBFCs
| Institution | Interest rates | Loan amount |
| Piramal Finance | From 12.99% | Upto 35 Lakhs |
| Shriram Finance | From 14% | Upto 35 Lakhs |
| Tata Capital | From 10.99% | Upto 35 Lakhs |
| InCred | From 18% | Upto 3 Lakhs |
| Finnable | From 16% | Upto 10 Lakhs |
| PaySense | From 16.8% | Upto 5 Lakhs |
| Poonawalla | From 9.99% | Upto 30 Lakhs |
| Fullerton | From 11.99% | Upto 25 Lakhs |
| LendingKart | From 12% | Upto 3 Lakhs |
| Axis Finance | From 13% | Upto 25 Lakhs |
| L&T Finance | From 12% | Upto 7 Lakhs |
| Mahindra Finance | From 10.99% | Upto 10 Lakhs |
| Aditya Birla | From 11.99% | Upto 50 Lakhs |
| Bajaj Finance | From 11% | Upto 50 Lakhs |
Documents required for Doctors personal loan
| Document Type | Details |
|---|---|
| Identity Proof | Aadhaar Card, PAN Card, Voter ID, Passport, or Driving License. |
| Address Proof | Utility Bill, Passport, Aadhaar Card, or Rent Agreement. |
| Qualification Proof | Medical Degree Certificate (MBBS, BDS, MD, etc.). |
| Income Proof | Latest Salary Slips (for salaried) or Income Tax Returns (ITR) for 2 years (for self-employed). |
| Bank Statements | Last 6 months of bank account statements. |
| Proof of Employment/Practice | Employment Certificate (for salaried) or Clinic Registration (for self-employed). |
| Photographs | Recent passport-sized photographs. |
| Credit Score Report | (Optional) Latest credit score or report. |
Fees and Charges on Doctor Personal Loans
| Fees/Charges | Details |
|---|---|
| Processing Fee | 1% to 3% of the loan amount (varies by lender). |
| Prepayment/Foreclosure Charges | 2% to 5% of the outstanding principal (if prepayment is allowed). |
| Late Payment Fee | 2% to 3% per month on the overdue amount. |
| Loan Cancellation Charges | ₹3,000 to ₹5,000 (if applicable). |
| Document/Stamp Duty Charges | As per state laws (generally between ₹500 to ₹2,000). |
| Cheque Bounce Charges | ₹500 to ₹1,000 per bounced cheque (varies by lender). |
| Loan Restructuring Fees | Up to ₹5,000 (if applicable for changing loan terms). |
| Part-Payment Charges | 2% to 4% of the part-payment amount (may vary depending on lender policies). |
| GST on Fees | 18% GST applicable on processing fees, prepayment charges, and other applicable fees. |
How to Apply for Personal Loan for Doctors at Fincover?
- Visit https://www.fincover.com/banking/loan/personal/loan-for-doctors/
- Click Apply now button
- Enter all the required information as requested and Submit your personal loan application
- You will get a call back from our backend team for the process
- Check if your personal loan is approved with the reference number
- If approved and verified, the loan will disbursed in few days
Personal Loans by Bank
NBFCs
- Rs.50 lakh Personal Loan
- Rs.40 lakh Personal Loan
- Rs.30 lakh Personal Loan
- Rs.25 lakh Personal Loan
- Rs.20 lakh Personal Loan
- Rs.15 lakh Personal Loan
- Rs.10 lakh Personal Loan
- Rs.5 lakh Personal Loan
- Rs.4 lakh Personal Loan
- Rs.3 lakh Personal Loan
- Rs.2 lakh Personal Loan
- Rs.1 lakh Personal Loan
- Rs.50,000 Personal Loan
- Personal loan for salaried
- Personal loan for self-employed
- PL for IT Professionals
- Personal Loan for CA
- Personal Loan For Marriage
- Personal Loan For Women
- Personal Loan for Doctors
- Personal Loan for Pensioners
- PL for Defence Personnel
- Personal Loan for Low Salary
- PL for Home Renovation
- PL for Medical Emergency
- Personal Loan for NRI
- Personal Loan for CA
