Union Bank Personal Loan for Doctors

The Union Bank doctors's personal loan is a remarkable credit option. The eligible applicants can expect the loan amount in as little as 3 days, featuring competitive interest rates and favourable terms. The bank further enables you to secure the necessary funds without pledging any of your assets as collateral, making it a more borrower-friendly loan. Moreover, you can avail of the online application process, minimal documentation, and moderate eligibility criteria, further enriching the overall appeal. Urban Money presents a detailed overview of a Union Bank doctors' instant loan to make your financial journey less difficult. Let’s dive in.

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Table of Content

1. Union Bank Personal Loan for Doctors Highlights

2. Compare Doctors Loan from other Banks

3. Union Bank Personal Loan for Doctors Fees and Charges

4. Union Bank Personal Loan for Doctors Documents Required

5. Union Bank Personal Loan for Doctors Eligibility Criteria

Written By

Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of 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.

Union Bank Personal Loan for Doctors – Highlights

Here are the Union Bank doctors’ Personal loan interest rates and other key parameters:

Interest Rates	11.75% to 13.00% per annum
Loan Amount	Up to ₹20 Lakh
Loan Tenure	60 months
Eligibility	Doctors who earn ₹12 Lakh or above per annum.

Compare Doctors’ Loan from other Banks

Below is the comparison of a Union Bank doctors’ Personal loan with other banks across India:

Bank/NBFC	Interest Rate	Processing Fee	Loan Amount	Tenure
Union Bank	11.75% p.a. onwards	0.50% of the loan amount	Up to ₹20 lakhs	1 – 5 years
Kotak Mahindra Bank	10.99% p.a. onwards	Up to 2.5% of the loan amount	Up to ₹15 lakhs	1 – 6 years
HDFC Bank	10.75% p.a. onwards	Rs 7999 + Taxes	Up to 75 lakhs	1 – 6 years
Bank of India	10.25% p.a. onwards	NA	Up to ₹25 lakhs	1 – 7 years
IDFC First Bank	10.50% p.a. onwards	Up to 3.5% of the loan amount	Up to ₹1 cr	1 – 7 years
Bajaj Finance	10% p.a. onwards	Up to 2.95% of the loan amount	Up to ₹55 lakhs	1 – 8 years
SMFG India Credit	11.99% p.a. onwards	Up to 6% of the loan amount	Up to ₹30 lakhs	1 – 5 years
IndusInd Bank	10.49% p.a. onwards	Up to 2% of the loan amount	Up to ₹10 cr	1 – 7 years
Punjab National Bank	11.40% p.a. onwards	0.90% of the loan amount	Up to ₹20 lakhs	1 – 7 years

Union Bank Personal Loan for Doctors – Fees and Charges

Following are the fees and charges of the Union Bank doctors’ instant loan:

Fee/Charge	Amount
Processing Fee	0.50% of the loan amount
Prepayment Charges	Nil
Late Payment Charges	2% per annum, over the applicable interest rates, on the overdue amount

Union Bank Personal Loan for Doctors – Documents Required

Following is the list of Union Bank doctors’ personal loan document requirements:

KYC documents: Aadhaar card, PAN card, Passport, and/or Voter ID.
Medical registration certificate: To verify your credentials as a medical professional.
Income Tax Returns (ITR): To assess your financial history and repayment capacity.

Union Bank Personal Loan for Doctors – Eligibility Criteria

Following is the list of Union Bank doctors Personal loan eligibility requirements:

Age Limit: Applicants should be between 18 and 25 years of age.
Employment Status: Consultants, physicians, and practising professionals in government or private hospitals or clinics.
Income Requirement: Applicant must have a minimum income of ₹12 Lakh per annum.
Credit Score: A credit score of 700 or above is preferable, as it may increase the chances of loan approval.
Residency: Applicant must be an Indian resident.