Loan Amount
Up to ₹50 Lakh
Interest Rate
Starting at 9.99%* p.a.
Loan Tenure
12-84 Months

Apply for a Personal Loan for Doctors Online

Invest in your medical practice with a Personal Loan for doctors. Whether you are looking to expand your clinic or need funds for purchasing medical equipment, our Personal Loan for doctors provide medical professionals with adequate funding to achieve professional goals. With benefits like competitive interest rates, zero hidden charges and flexible repayment options, you can apply now and take a step to propel your personal or professional goals.

Why Choose Poonawalla Fincorp

Loan Icon High Loan
Amount
Collateral Icon Collateral-free Loan
Interest Rate icon Competitive Interest Rate
No Use Icon No End-use
Restrictions
document Icon Minimal
Documentation
Quick icon Quick
Approval

Online EMI Calculator for Doctors Loan

Medical professionals may have varying income structures, and a Personal Loan for doctors with benefits like flexible repayment options offers greater flexibility. Check your monthly repayment instalments with our EMI calculator for a doctor loan. Just enter the loan amount, tenure, and interest rate. Try now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹100000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
9.99%
30%

Tenure

Months
12 Months
84 Months

Apply for a Personal Loan Online in Just 3 Steps

Step1

Click on “Apply Now”

Tap the “Apply Now”button to initiate your application.

Step2

Enter Details

Enter your DOB, PAN card number, monthly income, KYC details and residential details.

Step3

Upload Documents

Upload the necessary documents for quicker approval.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for a Personal Loan for Doctors

You can get a Personal Loan for doctors by meeting our simple eligibility criteria:

  • Age: Between 21 and 60 years.
  • Citizenship: Indian.
  • Employment: Full-time job with a government entity, public/private limited company, LLP, educational institution, or a company approved by Poonawalla Fincorp
  • Work Experience: Minimum 1 year, with at least 1 month in the current job.
  • Monthly Income: Minimum of ₹30,000.

Documents Required for a Doctor's Loan

Medical professionals need to submit just a few necessary documents to avail of a doctor loan. These are as below:

  • KYC Documents: Aadhaar Card, PAN Card, Voter ID, Driving License, or Passport.
  • Address Proof: Passport, Utility Bills or Rent Agreement.
  • Income Proof: Last 3 months’ payslips and bank statements.
  • Employment Proof: Official Email ID or Employee ID Card.
  • Income Proof: Last 1 month's payslip and 3 months’ bank statements.
  • Financial Documents: Bank statements for the last 3 months.

Interest Rate and Charges for a Personal Loan for Doctors

Check out the comprehensive overview of interest rates and charges for our loan:

Interest Rate
9.99%* p.a. onwards
Loan Amount
₹1 Lakh to ₹50 Lakh
Loan Processing Fees
Up to 3% plus applicable taxes
Lowest EMI Per Month
Starting from ₹2,124* per Lakh for 60 months
Loan Tenure
12 – 84 months
Prepayment/Foreclosure Charges
1. Before repayment of first six EMI:
i) If Foreclosure or Prepayment is done including balance transfer from another financial institution – 4 % on amount being prepaid plus applicable taxes.
2) After repayment of first six EMI:
i) If Foreclosure or Prepayment is done from own funds of the Borrower- Nil charges.
ii) If Foreclosure or Prepayment is done any other source including by balance transfer from another bank/financial institution- 4% on amount being prepaid plus applicable Taxes.
Default Charges
24% p.a. + taxes
Re-payment Instrument Dishonour Charges
₹500/- Per Bounce
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf

*T&C Apply

Different Uses of a Personal Loan for Doctors

You can use the loan amount from a doctor's loan to fund personal and professional goals including the following:

  • Medical equipment financing

  • Get working capital

  • Buying office equipment

  • Renovate clinic

  • Fund higher education

  • Meet personal life goals

  • Consolidate debt

Tips for a Successful Personal Loan Application

Here are a few useful tips for a successful doctor's loan application.

  • Check your CIBIL score

  • Avoid multiple loan applications

  • Fill the application correctly

  • Upload all the necessary documents

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

Can a doctor get a Personal Loan?

Yes, like any other person or professional, medical professionals, like a doctor, are also eligible for a Personal Loan from Poonawalla Fincorp. However, please note that you must fulfil the eligibility criteria and submit all the necessary documents.

What are the end uses of a Doctor's Personal Loan?

Medical professionals, including doctors, can use the loan amount from a Personal Loan for doctors for any purpose, such as higher education, purchasing medical equipment, wedding, debt repayment, home renovation, etc. At Poonawalla Fincorp, there is no end-use restriction on our Personal Loan.

What is the maximum loan amount available for doctors?

Doctors can apply for a Personal Loan of up to ₹50 Lakh. The approved loan limit depends on various factors, including age, monthly income, business experience, and credit history, etc.

Is the CIBIL score important for availing of a Doctor Loan?

Yes, the CIBIL score plays a vital role in determining an individual's creditworthiness. Hence, a higher CIBIL score may allow hassle-free approval of an instant loan for doctors.

Can I get a Personal Loan for doctors with flexible repayment options?

Yes. Poonawalla Fincorp offers a doctor loan with flexible repayment tenure up to 84 months. With flexible repayment tenure, you can choose a tenure that fits your monthly repayment budget.

How much time does it take for disbursal of a doctor loan?

Once your application for a Personal Loan for doctors have been approved, the funds can be transferred to your account without any delay.

Do I have to pledge collateral to avail of a doctor loan?

No, Poonawalla Fincorp provides collateral-free Personal Loan for doctors. Medical professionals does not need to pledge any collateral to avail of a doctor loan.

Can I apply for a Personal Loan for doctors without branch visit?

Yes. You can apply for a Personal Loan for doctors without visiting any branch. The loan application process can be completed online from anywhere, providing convenience for busy medical professionals.

What documents are required to get a Personal Loan for doctors?

Poonawalla Fincorp offers the benefit of minimal documentation to apply for a doctor's loan. You can submit only the essential documents. In general, an applicant should have KYC documents like Voter ID, Aadhaar card, PAN card, and bank details for doctor loan eligibility.

What is the basic eligibility criteria to avail of an Instant Loan for doctors?

To get an doctor's loan, you must be an Indian citizen with a relevant medical degree, within 21 to 60 years, with at least 1 year of employment and having a monthly income of at least ₹30,000.