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Pursuing MD or MS after MBBS is one of the most competitive and expensive postgraduate medical pathways in India. While MS (Master of Surgery) focuses on surgical specialisations, MD (Doctor of Medicine) covers non-surgical clinical disciplines.
Because of the high tuition fees, clinical training costs, and living expenses, most students rely on education loans for MD/MS in India. Major banks and NBFCs now offer specialised medical PG loan schemes with higher loan amounts, easy processes and longer repayment flexibility tailored for medical students.
Education Loan for MD/MS in India: Key Highlights (2025)
Here’s a quick overview of what most banks and NBFCs offer for MD/MS education loans:
Planning to appear for your NEET PG exam? You can check our NEET PG Exam guide for complete details on the exam.
Still deciding your specialisation? Compare both pathways in our MS vs MD differences guide to choose the right course after MBBS.
Education Loan for MD/MS in India: Interest Rates & Key Details
Lets compare the leading banks and NBFCs offering education loans for MD/MS courses in India. The table below highlights interest rates, maximum loan amounts, repayment tenure, and processing fees to help you choose the best option.
Top Education Loan Providers for MD/MS in India
Different banks and NBFCs follow different approval rules, collateral norms, and ROI slabs. This comparison table helps you quickly understand how each lender treats MD/MS education loans.
These lenders differ not only in interest rates but also in collateral expectations and processing time, which is why comparing them before application becomes essential.
Still deciding between MD/MS specialisations?
Before you take the loan, make sure you're choosing the right branch.
Explore detailed guides on popular specialisations like MD Radiology, MD Pediatrics, MD Ayurveda and more to plan your finances better.
Get Education Loan 10X Faster than Banks.
Eligibility Criteria for Education Loan for MD/MS in India
Aspirants pursuing postgraduate medical education must meet the following eligibility requirements to qualify for an MD/MS education loan in India:
Want a deeper breakdown of MD/MS loan eligibility?
Check whether you meet all the required conditions before applying for an education loan.
Explore our detailed guide on education loan eligibility and application process to see how banks and NBFCs evaluate your application for education loan and how you can easily apply.
People Also Ask
Co-Applicant for Education Loan for MD/MS in India
For unsecured MD/MS education loans, a co-applicant is mandatory. Banks evaluate their financial strength, repayment capacity, and credit history before sanctioning the loan.
Co-applicant Requirements
A quick reminder: the co-applicant carries full financial responsibility alongside the student. They should review the loan terms, EMI structure, and repayment timeline carefully before proceeding.
Do check out the below policies to understand the functioning of EMi and Repayment in your education loan:
Interest Rates & APR Policy Page
Moratorium & Repayment Policy Page
Once you are sure about your loan type and lender, the next step is preparing the correct documentation.
Documents Required for an MD/MS Education Loan in India
Lenders require a mix of identity, academic, financial, and collateral documents before approving an MD/MS education loan. Here’s a list you can use to prepare your file in advance.
If you want to compare different lenders, especially NBFCs that provide loans largely without collateral, do read our blog on NBFC education loan.
Faster Approvals, Simple Documentation — Apply for Your Medical PG Education Loan with Propelld
How to Apply for an Education Loan for MD/MS in India?
Students pursuing MD/MS often work with tight schedules, so choosing a simple and time-efficient loan application method matters. You can apply for an education loan either online or offline, depending on your lender’s process and your convenience.
Here’s how both processes work.
Types of Education Loans for MD/MS in India (Secured vs Unsecured)
Students pursuing MD/MS in India can choose between secured and unsecured education loans. Your choice depends on the loan amount required, interest rate expectations, and whether you can offer collateral.
1. Secured Education Loan (With Collateral)
A secured loan requires you to pledge an asset. Lenders usually offer higher amounts and lower interest rates because the risk is lower.
Key Features of Secured Loans
Accepted Collateral for Education Loan for MD/MS in India
Most banks require collateral for a secured MD/MS education loan. Below are the commonly accepted collateral types and the minimum value they must hold.
Secured loans offer better interest rates and higher loan limits but require valuation and legal checks, which increases processing time.
2. Unsecured Education Loan (Without Collateral)
An unsecured loan is issued based on the applicant and co-applicant’s credit and income profile. These loans are quicker but typically have higher interest rates.
Key Features of Unsecured Loans
Unsecured loans are ideal for students needing faster approvals, provided the co-applicant has strong financials.
People Also Ask
What You Should Know
- PSU Banks: Usually require collateral for loans above ₹7.5 lakh.
- Private Banks & NBFCs: Can offer unsecured loans of ₹20–40 lakh, sometimes higher for top medical colleges.
- Approval Factors:
- Strong co-applicant income
- High credit score (700+)
- Good academic record / NEET PG rank
- Recognition/ranking of the medical institute
A financially strong co-applicant can increase loan limits, reduce interest rates, and speed up approval.
Inference:
- Choose a secured loan if you:
- Need a high loan amount (₹40 lakh–₹2 crore)
- Want lower interest rates and longer repayment
- Have suitable collateral
- Choose an unsecured loan if you:
- Need a faster loan
- Are borrowing a smaller amount
- Have a strong co-applicant with good income and credit
Read our blog on No Collateral Education Loan to know more about the lenders that can provide you higher loan amounts without collateral, their features and interest rates.
No Collateral? No Problem. Get Up to ₹40L Unsecured with Propelld
Pursuing an MD/MS is a major investment, and choosing the right education loan can make your academic journey stress-free. Whether you opt for a secured or unsecured loan, understanding interest rates, collateral rules, co-applicant requirements, and documentation in advance can significantly speed up your approval.
If you’re looking for a faster and simpler alternative, Propelld offers flexible education loans tailored for medical students, with minimal documentation, transparent APR, and quick disbursals aligned to institute fee schedules. Check your eligibility in minutes and choose a loan option that supports your medical career without delays or hidden conditions.
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