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Personal Loan For Doctors

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Loan Up to Rs 5 Lakh
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Minimum Income Required Rs 15K
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Instant Approval in 10 Minutes
Personal Loan For Doctors EMI Calculator

Monthly EMI

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Interest Payable

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Get Personal Loan For Doctors Up to 5 Lakh

Instant Personal Loans for doctors are exclusively designed to provide timely finance to healthcare professionals. You might need quick funds to upgrade your clinic, buy new equipment, or cover a personal expense. Apply for a loan for doctors at Hero FinCorp to cover the cost upfront and repay later through EMIs over a tenure of 12 to 36 months.

The loan amount ranges from Rs 50,000 to Rs 5 Lakh, and the interest rate starts at 19% per annum. Borrow a Personal Loan for doctor without visiting the branch or dealing with any paperwork. The application process is 100% online, and the amount is disbursed directly into your bank account within a short period. 
 

Features and Benefits of Personal Loan For Doctors

Personal Loans for doctors come with a range of benefits to make borrowing easier and more convenient. Here are some key features that make these loans a great choice for medical professionals:
 

Attractive Interest Rate

The interest rate on a doctor's Personal Loan is based on their medical profile and income, ensuring the loan remains manageable and not burdensome.
 

Stress-Free from Collaterals

A Personal Loan is unsecured, requiring no collateral, which speeds up the approval process. This applies to Personal Loans for doctors as well.
 

Personalized Loan Management

Instant loan apps allow doctors to quickly manage loan applications, documentation, and check loan status without disrupting their busy schedule.
 

Ease of Documentation

Personal Loans for doctors no longer require photocopies of documents. The applicants just need to provide their KYC details and proof of income.
 

Automated EMI Deduction

Once a doctor's Personal Loan is approved, EMIs will be automatically debited, ensuring timely payments without the need to remember the due date.
 

Eligibility Criteria for Personal Loan for Doctors

To cater to the diverse financial needs of medical professionals, leading lenders in India, including Hero FinCorp, have introduced online Personal Loan apps. Just like any other loan, a quick eligibility check is essential before applying. At Hero FinCorp, Personal Loan eligibility for doctors depends primarily on your income and repayment capacity within the chosen tenure.

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Age

You must be between the ages of 21 and 58 years.
 

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Citizenship

You must be a resident Indian citizen to get a loan of up to 5 Lakh from Hero FinCorp.
 

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Work Experience

Self-employed must be working in their field for at least 2 years while salaried professionals must have a work experience of at least 6 months.
 

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Monthly Income

You must have a minimum monthly income of at least Rs 15,000 to qualify.
 

Required Documents for Personal Loan for Doctors

At Hero FinCorp, we keep the documentation process simple for applying for Personal Loans for doctors. The key documents required include proof of identity, address, and income. Skip the hassle of visiting a branch in person – simply provide your documents online through our website or app.
 

Required Documents for Salaried

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Proof of Photo Identity

Driving Licence, Passport, PAN Card, Aadhaar card

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Mandatory Documents

Filled Loan Application Form, Passport Size Coloured Photograph

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Proof of Income

Six Months’ Salary Slips and Bank Account Statement, Form 16
 

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Job Continuity Proof

Appointment Letter from the Current Employer
 

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Proof of Residence

Driving Licence, Passport, Aadhaar Card, Utility Bill
 

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Proof of photo identity

Driving Licence, Passport, PAN Card, Aadhaar card
 

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Mandatory Documents

Filled Loan Application Form, Passport Size Coloured Photograph
 

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Proof of Income

Last Six Months’ Bank Statement, ITR for the Last Two Consecutive Years
 

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Proof of Residence

Maintenance Bill, Utility Bill, Property Documents, Rent Agreement
 

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Proof of Business Existence

Copy of Tax Registration, Shop Establishment Proof, Company’s Registration Certificate
 

Interest Rate and Charges for Personal Loan for Doctors

While applying for a Personal Loan for doctors, it’s obvious to be concerned about interest rates and additional charges. After all, they can significantly affect the total loan cost by the term's end. Knowing them beforehand helps you plan the finances properly and borrow accordingly.
 

Interest Rate

Starting from 1.58% per month

Loan Processing Charges

Starting from 2.5%+ GST
 

Interest on Overdue EMIs

1-2% of the loan/EMI Overdue Amount Per Month
 

Cheque Bounce

Fixed Nominal Penalty
 

How to Apply for a Personal Loan for Doctor?

Here are the simple steps to apply Personal Loan for doctors, you can opt for an instant way of applying for a Personal Loan online:
 

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  • 01

    Visit the Hero FinCorp website or install the instant Personal Loan app
     

  • 02

    Go to the Personal Loan page and click ‘Apply Now

  • 03

    Enter your mobile number and verify with the OTP received

  • 04

    Choose the loan amount you need

  • 05

    Verify your KYC details to check income eligibility

  • 06

    Click ‘Submit’ to complete your application

Frequently Asked Questions

You can get a Personal Loan for doctors easily through Hero FinCorp’s instant loan app or website. Simply check your eligibility, verify your KYC details, and apply online without visiting a branch.
At Hero FinCorp, doctors can avail a Personal Loan of up to Rs 5 Lakh, subject to meeting the required eligibility criteria.
The interest rate for a Personal Loan for doctors depends on factors like credit score and DTI ratio. At Hero FinCorp, rates start from 1.58% per month.
Yes, doctors can get loans for both personal and professional reasons. A loan for doctors can be taken to improve the quality of medical treatments, expand the clinic, or to meet personal financial goals of further studies, travel, renovation, etc.
The required documents may vary based on whether the doctor is salaried or self-employed. Generally, KYC details and income proof are necessary.
You can apply online through the Hero FinCorp website or loan app and get approval within minutes. Once approved, the loan amount is quickly disbursed to your account.
Personal Loan eligibility for doctors depends on income, credit score, repayment capacity, and employment type—salaried or self-employed.
An MBBS doctor can avail a Personal Loan of up to Rs 5 Lakh, depending on their income, credit score, and repayment capacity.