Dentist and Physician Personal Loans
1Customized personal loans for medical professionals.
Even physicians and dentists have unplanned expenses. With flexible terms, Laurel Road offers personal loans that fit your needs. Borrow up to $80,000 with a fixed interest rate. Get rates in as little as five minutes.
Fund The Unexpected
Easy Online Application
Complete the entire process online from home, at your own pace.
Competitive Fixed Rates
Fixed APRs available in 3, 5 or 7 year loan terms.†
Borrow up to $80,0001
Practicing doctors and last year residents with a signed contract are eligible.
Autopay Discount2
Automatic payment option reduces interest rate by 0.25%.
Calculate Your Payments
The calculated payments are only an estimate. Your actual payments will depend on the actual amount for which you are approved. Eligibility and rates offered will depend on your credit profile and other factors. Rates include a 0.25% discount for making automatic payments from a bank account.2
Eligibility and rates offered will depend on your credit profile and other factors. Rates in the above table include a 0.25% discount for making automatic payments from a bank account.2 View Payment Examples below.
Learn About Personal Loans
Quick tips for getting a personal loan.
Frequently Asked Questions
QUESTIONS? WE'VE GOT ANSWERS.
-
Who is eligible for a Laurel Road Personal Loan?
All U.S. Citizens or permanent residents with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date) are eligible to apply for a Laurel Road Personal Loan. Loan eligibility also depends on your credit history and financial profile. If eligible, Laurel Road will perform a soft credit pull to provide you with conditional rates, so you can check your eligibility with no impact to your credit score.
-
Can I apply for a personal loan if I already have a personal loan?
Yes, customers with a current personal loan can apply for a new personal loan or to refinance their existing personal loan.
-
Is there a maximum amount that I can borrow with a Laurel Road Personal Loan?
If you are a physician or dentist in practice or within 12 months of completing training with a signed contract to practice, the maximum loan amount is $80,000. If you are a physician or dentist still in training without a contract to practice, the maximum loan amount is based on your training year as follows: Match Letter or PG1 is $30,000, PG2 is $35,000, PG3 is $40,000, PG4+ or Fellow is $45,000.
-
How long will it take to get a decision about my loan?
Once an application is complete, most approved loans are funded in about seven business days. However, this timing can vary depending on the complexity of the application and the volume of applications.
-
What can I use a Laurel Road Personal Loan for?
A Laurel Road Personal Loan can be used for almost any purpose except for education-related expenses. Some examples include consolidation of high rate debt, making home improvements, or financing major family purchases.
-
What is the personal loan application process like?
It’s actually pretty simple – the entire application can be completed online, and you can receive conditional rates in as little as two minutes.
- Fill out a short application with basic information including information about your employment and history. Once you authorize a soft credit pull and assuming you have provided enough information, we will provide you with conditional interest rates.
- Upload your supporting documents to Laurel Road’s secure dashboard to complete your online application. Once we have received your application, we will underwrite your loan and provide you with your final rates and loan terms.
- Select your loan type and term; you can e-sign all necessary disclosures and the promissory note in the Laurel Road dashboard.
The loan will be disbursed on the date shown in your final Truth in Lending statement.
Disclaimers
-
If you a practicing Doctor [Doctor of Medicine (MD) or Doctor of Osteopathic Medicine (DO)] or Dentist [Doctor of Medicine in Dentistry or Doctor of Dental Medicine (DMD) or Doctor of Dental Surgery (DDS)] or if you are a resident, with one of the aforementioned degrees and a contract to practice starting within 12 months, you may borrow up to $80,000.
-
AutoPay/EFT Discount: if the borrower chooses to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the borrower’s bank account. The discount will be reflected in your monthly payment.
-
Eligibility: Laurel Road Perks! for Doctors and Financial Insights are available to current Laurel Road Members with an existing credit card, student loan, personal loan, or mortgage who are physicians and dentists, including interns, residents, fellows, clinical professors, researchers, and managing physicians or dentists with one of the following qualifying medical or dental degrees: Doctor of Medicine, Doctor of Osteopathic Medicine, Doctor of Dental Surgery, Doctor of Medicine in Dentistry/Doctor of Dental Medicine, Doctor of Audiology, Doctor of Chiropractic, Doctor of Naturopathic Medicine, Doctor of Optometry, Doctor of Podiatry, or Doctor of Veterinary Medicine.
†Physicians & Dentists Personal Loan Estimated Payment Examples
Assumptions: Repayment examples below assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.
| Fixed Rate Loans | |||||
| Term | Interest Rate | APR | No. of Payments | Monthly Payment | Total Payments |
| 3 Year | 8.26% – 20.32% | 8.26% – 20.32% | 36 | $315 - $374 | $11,340 - $13,464 |
| 5 Year | 9.42% - 21.71% | 9.42% - 21.71% | 48 | $251 - $314 | $12,048 - $15,072 |
| 7 Year | 10.36% - 22.81% | 10.36% - 22.81% | 60 | $215 - $281 | $12,900 - $16,860 |
Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.
Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.
Interest Rate: A simple annual rate that is applied to an unpaid balance.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of March 30, 2021. Information and rates are subject to change without notice.
PHYSICIAN & DENTAL LOAN – RATE DETAILS, TERMS AND CONDITIONS
FEE INFORMATION
There are no origination fees or prepayment penalties associated with the loan. A late fee may be assessed if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.
LOAN AMOUNT
If you a practicing Doctor [Doctor of Medicine (MD) or Doctor of Osteopathic Medicine (DO)] or Dentist [Doctor of Medicine in Dentistry or Doctor of Dental Medicine (DMD) or Doctor of Dental Surgery (DDS)] or if you are a resident, with one of the aforementioned degrees and a contract to practice starting within 12 months, you may borrow up to $80,000 (minimum loan amount of $5,000).
ELIGIBILITY
Must be a U.S. Citizen, or Permanent Resident with a valid I-551 card and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements). Must also have a Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Medicine in Dentistry or Doctor of Dental Medicine (DMD), Doctor of Dental Surgery (DDS).