What is Doctor Loan or Loan for Doctor in India

"Get detailed information on What is Doctor Loan or Loan for Doctor in India and How to Apply Doctor Loan Online including its interest rate with My Mudra."

6 mins read

Published: 19 December 2022

Updated: 2 May 2024

Doctors loans are one such solution that can quench your financial needs in the easiest way. Loan for Doctor as the name suggests can be offered by any private or government bank, NBFC, or any other financial institution to any person holding a doctor's degree. The doctor loan can be provided to any doctor on the degree or their financial income. A doctor loan amount that can be provided to any doctor from My Mudra is up to 75 lakhs but this will depend on the eligibility of a person. This is the instant loan for doctors which can be availed hassle-free with just a click and a paperless process.

There is a three-step process for the person willing to apply for the doctor loan. Contact My Mudra, get your documentation done and the last step is disbursing the loan amount in your account. The loan can be given to a doctor either on their degree or on their income. Opt for the best possible option to apply for a doctor loan from drop line OD, term loan. Choose for the longer tenure and repay with easy and flexible installments. Opt for a doctor's loan and never run out of money. It offers quick finance to your clinic. My Mudra is offering a doctor loan with quick disbursal in your account. The doctor loan is within reach of every doctor and doctor’s clinic. Banks, NBFCs, and other financial institutions are offering loans at attractive interest rates for doctor loans.

Doctor Loan

Professional loans for doctors also boast quick approval processes. Lenders acknowledge the stability and potentially high income of the medical profession, resulting in expedited loan processing. Borrowers can usually choose loan amounts based on their requirements and repayment capacity.

Furthermore, doctor loans frequently offer flexible repayment options, including EMIs that align with doctors' income cycles and the option of moratorium periods. This allows doctors to establish their practices before initiating loan repayments. Tax benefits, where the interest paid on the loan is eligible for deductions, can also make these loans financially attractive.

In essence, loans for doctor empower medical professionals to invest in their growth, secure essential equipment, and manage their financial responsibilities effectively, ultimately supporting the provision of high-quality healthcare services to their patients.

Where can one utilize a Doctor's Loan?

A doctor's loan amount can be utilized in various ways by the applicant. Mentioned below are some of the instances where a person can avail of the loan.

  • Renovation of the clinic

  • Expansion in the traffic

  • Upgrading the equipment

  • Setting up for the new practice

Variants of the Doctor's loan

A doctor's loan can be given either on their degree or on the income of a doctor. Apart from this, a doctor can apply for the loan and opt for the best possible option mentioned below. The types of Doctor Loans are mentioned below. Choose the most appropriate option for you as per your requirements. 

1. Drop-line Overdraft: With a Dropline Overdraft, a borrower can overdraw funds from their current account up to a certain limit, but at the same time the actual withdrawal limit of the overdraft reduces every month from the sanctioned limit.

2. Term loan: A term loan is a usual loan having the same interest rate throughout the tenure of the loan. A doctor’s clinic having a constant flow of income and does not require to withdraw money at different intervals of time can opt for this Doctor Business loan.

Eligibility Criteria and Documents Required for Doctor Loan

Read below to understand the doctor loan eligibility.

1. Nationality: The candidate should have citizenship in India to apply for a Doctor loan.

2. Age: The age of the applicant should be between 22 years- 72 years.

3. CIBIL Score: Boost your CIBIL score and increase the chances of approval of a loan. Usually, a CIBIL score higher than 700 is considered to be eligible for applying for a loan.

4. KYC documents: An applicant should have all the documents like voter ID, Adhaar card, PAN card, and bank details.

5. Degree: The applicant must have a doctorate degree to apply for the loan.

6. Work Experience: Besides the doctorate degree a candidate must have a minimum of 2 years of experience as a doctor.

Interest rate and other charges

Doctor Loan Interest Rate and other charges are mentioned in the table below.


  Interest Rates (p.a.)

  State Bank of India

  11.05% – 15.05%

  Axis Bank

  10.49% onwards

  ICICI Bank

  10.50% onwards

  Kotak Mahindra Bank

  10.99% onwards

  Tata Capital

  10.99% onwards

  HDFC Bank

  10.50% onwards


Other Charges and Fees for Doctor Loan


  Type of fee


 Rate of Interest


 Processing fee

  2100.00 + GST

 Other charges



How to Apply for a Doctor Loan?

Applying for a business loan or personal loan for doctors is not a strenuous task. Your loan is just a click away from you. Choose the best bank for a doctor loan with My Mudra. Follow the following instructions and get your loan approved hassle-free.

  • Apply doctor loan online from My Mudra. Visit the website and search for the section of Professional Loan.

  • Go to the section of Doctor Loan and Click there to land on the page of Doctors’ Loan.

  • Click on the Apply Now button and fill in the form.

  • Submit the form and upload the documents.

  • Get quick approval and know your professional loan for doctor eligibility.

  • Get the quick amount disbursal in your account.


Doctor Loan is a one-stop solution for all doctors working professionally or doing their own practice to quench their thirst for financial needs. Doctor business loan is provided by the banks on their degree. Besides this, personal loan for doctors is also available at the lowest interest rates with minimal paperless documentation. My Mudra is providing aid to all doctors who are willing to take hassle-free loans, and quick disbursals in bank accounts from top banks, NBFCs, and financial institutions. Professional Loans for Doctors can help you in a financially harder time.


Also read: Doctor Loan Interest Rates and Repayment Terms

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