Indusind Bank Personal Loan for Doctors

Being a doctor is rewarding on a personal level. Still, regarding professionalism and finances, everything comes to a natural zone. Regardless of their profession, every individual is categorised as salaried and self-employed. Thus, IndusInd Bank offers a special loan to doctors. Whether they work for a hospital or run their own clinic, you can get a loan in no time. Doctors can borrow up to ₹50 lakhs, which they can pay back over 1 to 5 years. The best part? They don't need to put up any collateral, like property or other assets, to get the loan. This makes it easier for doctors to get the financial support they need without any hassle. Scroll down to seep into the details of the loan.

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Table of Content

1. IndusInd Bank Personal Loan For Doctors Highlights

2. Compare Doctors Loans From Other Banks

3. IndusInd Bank Personal Loan For Doctors Fees And Charges

4. IndusInd Bank Personal Loan For Doctors Documents Required

5. IndusInd Bank Personal Loan For Doctors Eligibility Criteria

Written By

Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

IndusInd Bank Personal Loan For Doctors – Highlights

Features	Description
Who Are Eligible?	Salaried and self-employed doctors with a minimum of 5 years of experience.
Maximum Loan Amount	Up to ₹50 lakhs.
Loan Tenure	1 to 5 years.
Margin	N/A
Upfront Fee	Up to 3% processing fee.
Collateral/Security	Not required.

Compare Doctor’s Loans From Other Banks

Banks/NBFCs	Interest Rates (p.a.)
PNB Doctor’s Delight	10.40% – 11.40%
BOI Star Personal Loan – Doctor Plus	10.75%
IDFC First Bank (Professional loan for Doctors, CAs, CS, Architects, etc.)	10.75% onwards
SMFG India Credit (Formerly known as Fullerton India) Personal Loan for Doctors	11.99% onwards
IndusInd Bank Medical Loan	10.49% onwards
Bajaj Finance Personal Loan for Doctors	11.00% onwards

IndusInd Bank Personal Loan For Doctors – Fees And Charges

Here is a structured table for fees and charges of IndusInd Bank personal loans for salaried and self-employed doctors:

Type of Fees	Amount
Processing Fees	Up to 3.5% of loan amount + GST
Prepayment Charges	4% of the principal outstanding after repayment of 12 EMIs + GST
Payment Dishonor Charges	Rs 450/- per instance + GST
Cheque / ECS / SI Swapping Charges	Rs 500/- per event + GST
Duplicate No Dues Certificate	Rs 250/- per event + GST
Loan Re-Booking / Rescheduling Charges	Rs 1000/- per event + GST
Penal Charges	2% + GST on total overdue (Principal + Interest) or 100 + GST whichever is higher
Loan Cancellation Charges	Rs 1000/- per event + GST
Legal Charges	As per Actuals Stamp Duty As per State laws

IndusInd Bank Personal Loan For Doctors – Documents Required

Here is a comprehensive list of documents doctors need for a personal loan:

For Salaried Doctors:

Proof of Identity (Aadhaar, PAN, Passport)
Proof of Residence (Utility bills, Rent agreement)
Proof of Income (Salary slips, Bank statements)
Medical Registration Certificate
Educational Certificates

For Self-Employed Doctors:

Proof of Identity (Aadhaar, PAN, Passport)
Proof of Residence (Utility bills, Rent agreement)
Income Proof (ITRs, Profit & Loss statements, Bank statements)
Medical Registration Certificate
Educational Certificates

IndusInd Bank Personal Loan For Doctors – Eligibility Criteria

Here’s a look into the eligibility criteria and requirements for medical practitioners seeking a personal loan with IndusInd Bank:

Salaried Doctors:

Employment: Must be employed in a government or private hospital or a healthcare facility.
Experience: A minimum of 5 years of post-qualification experience is required.
Income: A consistent income, evidenced by salary slips and bank statements, to ensure repayment capability.
Age: Between 25 to 65 years at loan maturity.
Credit Score: A good credit score indicates creditworthiness.

Self-employed Doctors:

Professional Stability: Must have been practising for at least 5 years post-qualification.
Income Proof: Income should be verifiable through ITR filings, bank statements of the practice, and any other relevant financial documents.
Age: The age range is usually between 25 to 65 years at the time of loan maturity.
Business Stability: The practice should be profitable and run for a minimum period as defined by the bank.
Creditworthiness: A healthy credit score is essential to demonstrate a good track record of credit usage and repayments.