Federal Bank Personal Loan for Doctors

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Federal Bank is pleased to introduce its Personal Loan for Doctors, designed to support medical professionals' financial needs. Whether it's for expanding your practice, enhancing your clinic's facilities, or other professional requirements, the Federal Bank Personal Loan for Doctors service offers a tailored financial solution. We invite medical practitioners to read about this opportunity to secure their financial health with this specialised loan offer.

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Table of Content

1. Federal Bank Personal Loan for Doctors Highlights

2. Compare Doctors Loan of Federal Bank from Other Banks

3. Federal Bank Personal Loan for Doctors Fees and Charges

4. Federal Bank Personal Loan for Doctors Documents Required

5. Federal Bank Personal Loan for Doctors Eligibility Criteria

Read more
Written By
Amrita Sinha
Amrita Sinha
Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.
Reviewed By
Amit Prakash Singh
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.

Federal Bank Personal Loan for Doctors – Highlights

The loan comes with several attractive features:

Feature Detail
Loan Amount Up to ₹25 Lakhs
Interest Rate Ranges from 10.49% p.a. to 17.99% p.a.
Tenure Up to 60 months
Processing Fee Up to 3% of the loan amount

Compare Doctors Loan of Federal Bank from Other Banks

Here is a table that shows some of the key features and benefits of different banks that offer loans for doctors:

Bank Loan Amount Interest Rate Tenure Processing Fee Collateral
Federal Bank Up to Rs. 35 lakhs 10.75% – 11.75% 12 to 48 months Up to 2% of the loan amount No
HDFC Bank Up to Rs. 75 lakhs 10.75% – 11.75% 12 to 72 months Up to 2.5% of the loan amount No
IndusInd Bank Up to Rs. 35 lakhs 11.50% 12 to 48 months Up to 2% of the loan amount No
Bank of America Up to $5 million 3.25% – 4.25% 10 to 25 years 0.5% of the loan amount Yes
Fairway Independent Mortgage Corporation Up to $1.5 million 2.75% – 3.75% 15 to 30 years 0.5% of the loan amount No

*Please note that the information may vary depending on the eligibility criteria, loan purpose, and other factors. 

Federal Bank Personal Loan for Doctors – Fees and Charges

The loan is associated with the following fees and charges:

  • Processing Fee: Up to 3% of the loan amount.
  • Prepayment/Foreclosure Charges: Nil for floating-rate loans; 3% for fixed-rate loans.
  • Penalty for Delayed Repayment: 2% per month of the overdue amount.

Federal Bank Personal Loan for Doctors – Documents Required 

The documentation process is straightforward, requiring the following:

  • Identity Proof
  • Residence Proof
  • Income Proof: The Latest salary certificate, the last three months’ salary slips, or Income Tax Returns for the last two years.

Federal Bank Personal Loan for Doctors – Eligibility Criteria

To be eligible for this loan, applicants must meet the following criteria:

  • Age: Between 25 and 65 years at the time of loan maturity.
  • The minimum net annual income required is ₹1 lakh.
  • Proven experience in consulting or practising as a doctor.
  • Proof of medical registration.
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