fbimg

Indian Bank Doctors Loan

Last Updated 04th Sep 2019

Indian Bank Loan for Doctors Sep 2019

Interest Rate NA
Check Best Offers
Processing Fee
Loan Amount ₹ 0 - ₹ 0
Age -
Part Prepayment Charges Not Allowed
Preclosure Charges Not Allowed
  • Get best offers on Loan for Doctors equipment for salaried and self employed doctors.
  • Eligibility of Business Loan for Doctors depend on job stability, income, credit score, etc.
  • Avail Indian Bank Doctors Loan for Clinic, Labs and Equipments.
Apply for Doctor Loan @ 11.25%*
+91

Doctor Loan Indian Bank

Eligibility Criteria for Indian Bank Doctor Loan

Indian Bank has detailed criteria to determine a potential borrower’s eligibility for professional loan for doctors.

Some of the key eligibility criteria are summarised in the table below:

Eligibility Criteria

Minimum Credit Score 650 and above
Loan Amount ₹ 0 to ₹ 0
Interest Rate N/A
  • Indian Bank grants loan at the minimum credit score of 650 and above

Indian Bank Doctor Loan Calculator

Indian Bank Doctor Loan Eligibility is the amount of loan you can avail based on an assessment of your repayment capacity as well as your income. It is important to calculate eligibility for loan from the bank. You can calculate your loan eligibility using the MyLoanCare Doctor Loan Calculator to get a fairly accurate estimate of your potential eligibility subject to the information provided by you.
You can also use online Indian Bank Doctor Loan Calculator to calculate loan EMIs. EMI is a fixed amount that you are required to pay each month towards the repayment of your loan till the end of tenure. The EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check and compare lowest EMI per lakh on loan to doctors. Indian Bank Doctor Loan EMI depends upon multiple factors such as loan amount, interest rate and loan tenure:

Loan Amount : Higher the loan amount, higher the EMI. Loan amount depends upon the interest rate offered by the bank.

Interest Rate on loan for doctors: Another factor which affects your EMI is interest rate on the loan. Longer the loan tenure, lower will be the EMI. Professional loan interest rates in Indian Bank are % to % depending upon your loan eligibility and loan amount.

Loan tenure : This is the period in which you can repay your loan in Indian Bank. Longer loan tenure means lower loan EMI. Generally, Indian Bank offers loan for a maximum tenure of Months to Months.

What are the benefits of calculating Indian Bank Medical Loan EMI ?

EMI calculator helps you to calculate your monthly EMI at different rate of interest.

Indian Bank Doctor Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living.

Getting an EMI estimate will help you ascertain the monthly EMI you can comfortably service, thus allowing you to choose the right combination of loan amount and loan tenure.

Rate of interest is an important factor which affects your EMI on loan taken. Higher the rate, higher will be the EMI. You can also estimate the interest amount you pay over the tenure of the loan at various loan tenure as well as interest rates.

Illustration: Use doctor loan calculator to calculate Indian Bank doctor loan interest and Indian Bank Doctor Loan EMI at different tenures

Doctor Loan EMI for Rs. 1 Lakh loan amount at lowest % interest rate offered by Indian Bank for different tenures

Indian Bank Medical Loan Charges

In addition to interest rates, these loans also carry some other charges which include:

Prepayment Charges - These charges are to be paid in case you want to repay your loan either in part or full during the tenure period. Indian Bank allows pre payment of loan at charges.

Processing Fee - Indian Bank charges a processing fee of with applicable tax.

Doctor Loan Indian Bank Documents

Following Documents are required for applying for Doctor Loan with Indian Bank

In case of salaried individual

  • Filled Application Form
  • Identity Proof (PAN Card) : Passport, Driving License, PAN Card, Banker’s sign verification
  • Qualification Proof : Graduate or Post Graduate qualification certificate, IMA (Indian Medical Association) membership number, or any other registrations allowed by Indian Government
  • Address Proof : Passport, Telephone bill, Electricity bill, Rental agreement, Driving license, Election ID card
  • Latest 3 months pay slip
  • 2 passport size photographs
  • 6 months bank statement
  • 3 Post Dated Cheques/ECS Mandate

In case of Self- employed / professional individual

  • Filled Application Form
  • Identity Proof : Passport, Driving License, PAN Card, Banker’s sign verification
  • Qualification Proof : Graduate or Post Graduate qualification certificate, IMA (Indian Medical Association) membership number, or any other registrations allowed by Indian Government
  • Last 2 years ITR
  • Professional/Self- employed existence proof for more than 3 years
  • 2 Passport Size colour Photographs
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate

Frequently Asked Questions on Indian Bank Doctor Loan

Why should I calculate Indian Bank doctor loan EMI before taking a loan?

It is advised to calculate your loan EMI before taking a professional loan. Estimating your loan EMI in advance gives a clear picture on the number of EMIs to be paid over the loan tenure. In case the calculated EMI is more than your monthly budget, then you can consider applying for a lower loan amount which results in affordable EMI and fits into your monthly budget.

Further, If you already know the EMI you have to pay each month, then you can plan your spends accordingly.

How much interest is charged by Indian Bank on loan for doctors?

Doctor loan interest rate in Indian Bank are % to %.

What is the minimum and maximum tenure of Indian Bank loan for doctors?

You can repay your professional loan in a flexible period of Months to Months.

How much loan amount I can borrow from Indian Bank?

Indian Bank offers loan between ₹ 0 to ₹ 0 .

How much processing fee is charged by Indian Bank on loan for doctors?

Indian Bank charges a processing fee of along with applicable service tax.

Are there any prepayment charges on Indian Bank loan for doctors?

Yes, you can prepay your charges on professional loan from Indian Bank at .

How does repayment happens for loan for doctors?

The repayment of professional loan happens in the form of an EMI (Equated Monthly Installment) through the customer's bank account. The customer is required to present a few post dated cheques and sign an ECS mandate in favor of the bank at the time of disbursing the loan.

Is age an eligibility factor to apply for Indian Bank loan for doctors?

Yes, age is an important eligibility factor to get Indian Bank loan for doctors. Your age should be as minimum years to maximum years at the time of taking loan from the bank.

Will I get the loan for doctors from Indian Bank if I have a bad credit score?

No, for taking a loan from Indian Bank, an applicant must have a good credit score of 650 and above. Usually, most of the banks avoid giving loans if you have low credit score.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
Get Free Credit Report