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
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.
Bank Interest Rates for Doctor Loan
Comparison of Personal Loan Interest Rates of Banks (2025)
| Bank | Interest Rate | Loan Amount | Apply |
|---|
| DBS Bank | From 10.99% | Up to ₹15 Lakhs | Apply |
| HDFC | From 10.85% | Up to ₹40 Lakhs | Apply |
| Axis Bank | From 10.49% | Up to ₹40 Lakhs | Apply |
| ICICI Bank | 10.75% – 19% | Up to ₹40 Lakhs | Apply |
| Bank of Baroda | 10.75% – 18.5% | Up to ₹5 Lakhs | Apply |
| SBI | From 11% | Up to ₹30 Lakhs | Apply |
| IndusInd | From 10.49% | Up to ₹50 Lakhs | Apply |
| Yes Bank | From 10.99% | Up to ₹40 Lakhs | Apply |
| Standard Chartered | From 11.5% | Up to ₹50 Lakhs | Apply |
| IDFC | From 10.49% | Up to ₹50 Lakhs | Apply |
| Kotak Mahindra | From 10.99% | Up to ₹40 Lakhs | Apply |
| PNB | From 11.40% | Up to ₹20 Lakhs | Apply |
| Bandhan Bank | From 11.55% | Up to ₹25 Lakhs | Apply |
Comparison of Personal Loan Interest Rates of NBFCs (2025)
| NBFC | Interest Rate | Loan Amount | Apply |
|---|
| Piramal Finance | From 12.99% | Up to ₹35 Lakhs | Apply |
| Shriram Finance | From 14% | Up to ₹35 Lakhs | Apply |
| Tata Capital | From 10.99% | Up to ₹35 Lakhs | Apply |
| InCred | From 18% | Up to ₹3 Lakhs | Apply |
| Finnable | From 16% | Up to ₹10 Lakhs | Apply |
| PaySense | From 16.8% | Up to ₹5 Lakhs | Apply |
| Poonawalla | From 9.99% | Up to ₹30 Lakhs | Apply |
| Fullerton | From 11.99% | Up to ₹25 Lakhs | Apply |
| LendingKart | From 12% | Up to ₹3 Lakhs | Apply |
| Axis Finance | From 13% | Up to ₹25 Lakhs | Apply |
| L&T Finance | From 12% | Up to ₹7 Lakhs | Apply |
| Mahindra Finance | From 10.99% | Up to ₹10 Lakhs | Apply |
| Aditya Birla | From 11.99% | Up to ₹50 Lakhs | Apply |
| Bajaj Finance | From 11% | Up to ₹50 Lakhs | Apply |
Eligibility Criteria for Doctors Personal Loan
| Eligibility Criteria | Details |
|---|
| Profession | MBBS, BDS, MD, MS, MDS, BHMS, BAMS, and other recognized medical degrees |
| Experience | Minimum 1 year post-qualification experience (varies by lender) |
| Age Limit | 25 to 65 years (may vary by lender) |
| Minimum Income | ₹20,000 - ₹30,000 per month (depending on lender) |
| Credit Score | Preferably 700 or above |
| Employment Type | Salaried and self-employed doctors |
| Loan Amount | Up to ₹40 Lakh (based on creditworthiness and income) |
| Nationality | Indian citizen |
| Workplace Stability | At least 1 year at a reputed hospital/clinic or self-owned clinic |
Documents Required for Doctors Personal Loan
| Document Type | Details |
|---|
| Identity Proof | Aadhaar Card, PAN Card, Voter ID, Passport, Driving License |
| Address Proof | Utility Bill, Passport, Aadhaar Card, Rent Agreement |
| Qualification Proof | Medical Degree Certificate (MBBS, BDS, MD, etc.) |
| Income Proof | Latest Salary Slips (salaried) / ITR for 2 years (self-employed) |
| Bank Statements | Last 6 months’ statements |
| Proof of Employment | Employment Certificate (salaried) / Clinic Registration (self-employed) |
| Photographs | Recent passport-sized photos |
| Credit Score Report | Latest credit report (optional) |
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 outstanding principal |
| Late Payment Fee | 2% to 3% per month on overdue EMI |
| Loan Cancellation Charges | ₹3,000 to ₹5,000 (if applicable) |
| Document/Stamp Duty Charges | As per state laws (₹500 to ₹2,000 approx.) |
| Cheque Bounce Charges | ₹500 to ₹1,000 per instance (varies by lender) |
| Loan Restructuring Fees | Up to ₹5,000 (if applicable) |
| Part-Payment Charges | 2% to 4% of the amount part-paid (if allowed) |
| GST on Fees | 18% applicable on fees and charges |
How to Apply for Personal Loan for Doctors at Fincover?
- Visit /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
Apply now
