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Professional Loans

We understand that doctors have unique professional requirements. Most need continuous education to upgrade their skills, set up a practice, or upgrade their clinical equipment. IDFC FIRST Bank’s customized loans for doctors caters them to meet their financial goals without dipping into their savings. By offering zero collateral, competitive interest rates, and swift approval, IDFC FIRST Bank makes it easy for doctors to meet their financial needs. Be it home renovation, purchasing medical equipment, debt consolidation, Doctor’s loan offers an easy & convenient financing solution.Read More

By offering zero collateral, competitive interest rates, and swift approval, IDFC FIRST Bank makes it easy for doctors to meet their financial needs. Be it home renovation, purchasing medical equipment, debt consolidation, Doctor’s loan offers an easy & convenient financing solution.Read Less

Features and Benefits of IDFC FIRST Bank Doctor’s Loan

Multi-purpose Professional Loans

  • You might need to budget for a wide range of expenses as a professional. These may be running expenses for a private practice or tuition for professional development program. You can rely on our product to act as a multipurpose loan that can be used for various purpose without any constraints.

Collateral-free funding up to 1 Crore

  • Being an unsecured loan, a doctor’s loan does not require security or collateral. Get funding from 10 lacs to 1 crore with minimal documentation and a digitized process from the comfort of your home.

Extended tenure up to 7 years

  • We offer extended loan tenure up to 84 months as a comfortable repayment structure.

Transparent Charges

  • We conduct all loan transactions with the utmost integrity and openness. The loan documents include a complete list of all relevant loan information.

ELIGIBILITY

Who can apply?

We have detailed our professional loan eligibility as below

Loan to doctors:

  • Can be availed by doctors (MD, MBBS, BAMS, BHMS, MDS, BDS and Veterinary, Physiotherapist)

Documentation

Salaried Professionals

  • Photo identity proof, address proof: As per RBI defined KYC guidelines.
  • Education Proof- Degree certificate, Degree registration
  • 3 Months Bank Statement
  • Employee ID Card
  • Residence Ownership proof

Self Employed professionals and Entities such as Hospitals, Diagnostic centers

  • Photo identity and Address proof: As per RBI defined KYC guidelines
  • Education Proof- Degree certificate, Degree registration
  • Ownership proof of residence or office as applicable
  • Business Proof: Shop Act License/MOA & AOA/GST registration/ITR, Partnership Deed.

Any one of the additional documents as per program

  • Basis Banking - 1 year ITR & Computation, 12 months banking
  • Or Basis Degree - 3 months banking
  • Or Basis Income - 2 years ITR & financials, 12 months banking

Professional Loan Eligibility

FEES & CHARGES

Find out about our minimal and transparent fees & charges

View Fees & Charges

fees and charges

FREQUENTLY ASKED QUESTIONS

Who can apply for a Professional Loan?

We offer our loans for professionals, including loans for doctors, to many individuals and entities. Here’s a detailed list of who can apply:

·         Graduate Allopathic Doctors

·         Post Graduate Allopathic Doctors  

·         BDS/ MDS

·         Veterinary Doctor

·         Physiotherapists

·         BAMS, BHMS

·         Diagnostic Centres & Hospitals

·         CA, CS, Architects

·         Consulting Engineers

Is this Professional Loan an unsecured loan?

Yes, it is an unsecured loan

What is the minimum work experience required to apply for a Professional Loan?

You will need to have a minimum of 5 years of work experience to apply for a Professional Loan.

What are the features of this loan?

Below is a list of some of the many features you can access under this loan:

·         Collateral-free loan up to ₹1 crore

·         Instant loan up to ₹30 lakhs based on professional qualifications

·         Extended loans for professionals tenure up to 84 months

·         Competitive interest rates

·         Superior customer experience with easy documentation and processes

·         Funding for salaried professionals

·         Unique loan transfer and top-up facility

What are the age requirements to apply for a Professional Loan?

An applicant should be a minimum of 28 years old and a maximum of 68 years at the time of loan maturity.

(Although if your parents are in the same profession, the age norm has been relaxed to a minimum of 23 years) 

What is the loan amount for which a customer can apply for a professional loan?

Loan eligibility varies from customer to customer. These can be a professional loan for doctors, loans for architects, loan to chartered accountants, etc. We offer a minimum of Rs.5 lakhs up to a maximum of Rs.1 crore. 

What is the provision for any unforeseen event post availing professional loans from IDFC First Bank?

We cannot predict future and hence we try to protect it by providing you insurance cover as below-

·        Property insurance 

·        Group term insurance

·        Life Group Credit Protect

·        Health Protect plans

·        Accident protect plan

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