Indian Bank Personal Loan for Doctors

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Indian Bank Doctors Personal Loan is a specialised financial offering designed exclusively for doctors. It comes under IB professional schemes and addresses their unique financial needs. This loan scheme can be used for personal purposes such as setting up or renovating an office, purchasing consumer durables and household articles, celebrating family functions, and covering other personal or household expenses. With competitive interest rates, flexible repayment options, and quick processing, this loan provides doctors with timely financial assistance for various personal and professional expenses.

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Table of Content

1. Indian Bank Personal Loan for Doctors Highlights

2. Compare Indian Bank Personal Loan for Doctors Loan From Other Banks

3. Indian Bank Personal Loan for Doctors Fees and Charges

4. Indian Bank Personal Loan for Doctors Documents Required

5. Indian Bank Personal Loan for Doctors Eligibility Criteria

Written By

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

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.

Indian Bank Personal Loan for Doctors – Highlights

Some key highlights and features of the Indian Bank Doctors Personal loan are listed below

Interest Rate	10.25%-10.50%
Maximum Loan Amount	The maximum loan amount will be determined by the lower of either 2.50 times the lowest Gross Annual Income during the last two years or Rs. 30.00 Lakhs.
Maximum Loan Tenure	Term Loan- Maximum 84 EMIs

Compare Indian Bank Personal Loan for Doctors Loan From Other Banks

Here is the comparison of Indian Bank personal loans for Doctors with the offerings from other banks.

Lender	Interest Rate
State Bank of India	11.15% – 15.30%
HDFC Bank	10.50% onwards
Punjab National Bank	10.40% – 11.40%
Axis Bank	10.49% onwards
ICICI Bank	10.65% onwards

Indian Bank Personal Loan for Doctors – Fees and Charges

Below is a table outlining the fees and charges associated with the Indian Bank Doctors Personal loan.

Fee/Charge	Amount
Processing Fee	Nil

Indian Bank Personal Loan for Doctors – Documents Required

To initiate the loan application process, applicants must provide the following documents as per the bank’s requirements:

Salary slips or income tax returns for the last few months, Income certificates from employers or audited financial statements for self-employed doctors.
Employment letter or contract from the hospital or clinic, Medical council registration certificate.
Aadhar card, utility bills in the name of the applicant, and rental agreement (if applicable).
PAN card, Aadhar card, Passport, Voter ID card.

Indian Bank Personal Loan for Doctors – Eligibility Criteria

Applicants have to meet the following eligibility criteria to obtain the Indian Bank Personal Loan for Doctors

Medical professionals must have a minimum annual income of Rs. 7.50 lakhs to qualify for the Indian Bank Lakh Personal Loan for Doctors.
Applicants must be between the ages of 21 and 70 years to be eligible for the loan.
Doctors need to provide proof of their recognised qualifications, such as medical degrees or certifications.
Medical professionals must provide evidence of their current employment status, including employment letters or contracts.