HDFC Bank Personal Loan for Doctors

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HDFC Doctors Personal Loan is a special loan exclusively crafted for doctors. Eligible candidates can secure a loan amount of up to Rs 75 lakh at an attractive rate and term. This loan amount can address various professional needs and advance your practice, empowering the business to move forward. Namely, whether you’re looking to build a new clinic, purchase an existing one, or expand your current facility, the bank has the options and resources to disburse the funds. You can also avail of the loan amount to rent your clinic, pay salaries to your staff, or buy medical equipment that serves your patients’ well-being. Let’s scroll down and learn more. Hereunder, we cover details such as the eligibility criteria, document requirements, applicable fees, and more.

HDFC Personal Loan for Doctors – Highlights

Following are the key parameters of an HDFC Doctors instant loan:

Highlights
Interest Rates	10.75% p.a.
Processing Fees	Rs 7999 plus applicable taxes
Loan Amount	Up to Rs 75 lakhs
Loan Tenure	12 months – 72 months
Eligibility	Should be practicing or consulting as a doctor.

Compare Doctors Loan From Other Banks

Let’s compare HDFC Doctors Personal Loan with other banks and NBFCs in India:

Bank/NBFC	Interest Rate (p.a.)	Processing Fee	Loan Amount	Tenure
HDFC Bank	10.75% onwards	Rs 7999 + Taxes	Up to Rs 75 lakhs	1 – 6 years
Punjab National Bank	11.40% onwards	0.90% of the loan amount	Up to Rs. 20 lakhs	1 – 7 years
Bank of India	10.25% onwards	NA	Up to Rs. 25 lakhs	1 – 7 years
IDFC First Bank	10.50% onwards	Up to 3.5% of the loan amount	Up to Rs. 1 cr	1 – 7 years
SMFG India Credit	11.99% onwards	Up to 6% of the loan amount	Up to Rs. 30 lakhs	1 – 5 years
IndusInd Bank	10.49% onwards	Up to 2% of the loan amount	Up to Rs. 10 cr	1 – 7 years
Bajaj Finance	10% onwards	Up to 2.95% of the loan amount	Up to Rs. 55 lakhs	1 – 8 years

HDFC Personal Loan for Doctors – Fees and Charges

Following are the fees and charges of HDFC Doctors instant loan:

Fee/Charge	Amount
Processing Fee	Rs 7999 plus applicable taxes
Premature Closure Charges (For Full Payment)	1) Up to 24 EMI repayment – 4% of principal outstanding, 2) Post 24 EMI and up to 36 EMI repayments – 3% of principal outstanding, 3) Post 36 EMI repayment – 2% of principal outstanding.
Delayed instalment payment charge	18% annual interest, plus government taxes on overdue instalments amount.
Repayment Mode Swap Charges	Rs 500
Amortisation Schedule Charges / Repayment Schedule Charges	Rs 50/- Per Instance
Stamp Duty & other statutory charges	As per applicable laws of the state
Loan cancellation Charges & Rebooking Charges	Rs 1000/- plus applicable taxes

HDFC Personal Loan for Doctors – Documents Required

The following are the required documents for an HDFC Doctors Personal loan:

Proof of Identity: PAN Card, Passport, Voter ID or Driving License.

Proof of Address: Recent copy of Utility Bills, Passport, Driving License or Aadhaar Card.

Proof of Education: Certificate for the highest professional degree

Proof of Income: Latest 6 months Bank Statement (where salary/income is credited)

Proof of Profession/Business: Latest ITR, Balance Sheet, Profit and Loss Account for the last 2 years.

Proof of Continuation: ITR, Trade License, Establishment Certificate, or Sales Tax certificate.

Other Mandatory Documents: Sole Proprietorship Declaration, Certified Copy of the Partnership Agreement, a Director-certified true copy of the Memorandum and Articles of Association, and a Board Resolution.

HDFC Personal Loan for Doctors – Eligibility Criteria

The following are the required eligibility for an HDFC Doctors Personal loan:

You must be at least 25 years old and under 65 years of age when the loan matures.
You must have at least 4 years of post-degree work experience, while physiotherapists require at least 5 years of post-qualification experience.
You must have an annual income of at least Rs 1 lakh, and your business should have been profitable for the two preceding years.
You must have a good credit score and repayment history.