Financial Checklist for Doctors

6 Step Financial Checklist for Doctors before They Apply for Loans

July 11, 2022 • 196 views

A Doctor can finance their Professional requirements with a Doctor Professional Loan. This tailored service gives quick financial answers and accommodates a hectic lifestyle. Following some guidelines is essential to ensure that the loan application process is smooth and that the doctor makes the greatest use of the loan. This will make it possible for them to apply for financing without hesitating, reducing the likelihood that their application will be rejected, and expediting the procedure for quick approval and payment. Like other white-collar workers, doctors may require funding. Medical professionals need access to rapid cash at different points in their lives, whether it's for beginning up or expanding their medical practice, buying expensive medical equipment, or renting hospital space. We at Poonawalla Fincorp are aware of this and offer Professional Loans for Doctors without collateral to assist them in meeting their varied financial needs. Our Professional Loan for Doctors are created to be both flexible and easy to get. They also have several intriguing advantages, such as quick disbursement, a customizable repayment period, low interest rate, and no foreclosure fees. 
 

Features and Benefits of Professional Loans for Doctors

Doctors can quickly and easily obtain Professional Loans from Poonawalla Fincorp to meet their financial goals. We want to make sure that a lack of resources never prevents a doctor from succeeding. Here are a few noteworthy qualities and advantages of our Professional Loan for Doctors: 

  • Developed specifically for medical professionals 
  • Simple online form 
  • No guarantor or security is necessary. 
  • Adjustable repayment period 
  • Affordable interest rates 
  • No additional fees 
  • No foreclosure fees 
  • Free Doctors Loan EMI Calculator 
  • Rapid approval and payment 

 

Financial Checklist for Doctors When Applying for Professional Loan

  • Secured and unsecured loans : A Professional Loan for Doctor includes secured and unsecured loans. Personal and Business Loans come under the unsecured loan category while  Home Loans and Loans against Property come under secured loans category. Therefore, doctors must choose between secured and unsecured loans by accessing their financial condition and need for the loan. 
  • Check the eligibility criteria : Each loan in the suite has specific requirements for qualifying. This expedites the approval process. With a Professional Loan for Doctor from Poonawalla Fincorp, you can benefit from simple eligibility requirements based on your academic credentials and relevant professional experience. 
  • Selecting an appropriate Loan Amount : To ensure simple payback, choosing the appropriate loan amount is essential. Although you have access to a large loan amount, you must first determine how much you need to borrow with the Doctors Loan EMI Calculator. This will prevent you from borrowing too much or too little and improve your borrowing experience. 
  • Selecting the Right Tenure : The time period for which the loan is commonly referred to as tenure. It is of great importance as it helps in calculating the amount of EMI that needs to be paid. Use the Doctors Loan EMI Calculator, to calculate the amount of EMI that needs to be paid. Through Doctors Loan EMI Calculator, one can explore other available options as well. Just choose the number of years and select the time-period which is most suited to you.  
  • Organize your Documents : Make sure your documents are in order so you don't lose time in paperwork. You just need to submit your KYC documents, medical registration certification, financial information, and a copy of your property paperwork once you have been approved for the loan. 
  • Utilize the Pre-approved Offers : Pre-approved offers help apply for a Professional Loan for Doctors quickly. You don't need to start the application procedure from scratch if you are currently a client of the lender. Utilize pre-approved offers if you can contact your current lender for this loan.  

 

Eligibility Criteria for Doctor’s Professional Loan

You can obtain a high-value Doctor Loan from Poonawalla Fincorp at a reasonable interest rate. You only need to meet a few minimal eligibility requirements. Our requirements for a Professional Loan for Doctors are listed below: 

  • The applicant must be an Indian national. 
  • He/she must be between the age of 22 to 62. 
  • The doctor applying must have at least a year of clinical experience. 
  • The applicant must also have at least ?3 Lakh in receipts. 

Documents Required for getting a Doctor's Professional Loan

Poonawalla Fincorp is known for the minimal paperwork required for getting a Doctor’s Professional Loan. We make sure that even in an emergency, you have instant access to funds with the least amount of paperwork. The following documents are necessary for our Professional Loan for Doctors: 

  • Proof of Identity (PAN Card) 
  • Proof of Address (Aadhar Card) 
  • Financial Documents (Bank Statements & IT returns) 
  • Evidence of Professional Qualification (Medical registration certificate) 
  • Proof of Medical Experience 

Note.- This list is merely illustrative; throughout the loan application process, we might ask for some more paperwork. 
 

How to Apply for Poonawalla Fincorp Doctor’s Professional Loan?

An applicant can apply for our Doctor Loans online and have access to immediate funding from the comfort of their home. All they have to do is adhere to the following five easy steps: 

  • Step 1: Go to our website or the branch closest to you. 
  • Step 2: Determine whether you qualify for our Doctor’s Loan 
  • Step 3: Complete the loan application. 
  • Step 4: Upload or submit the necessary documents
  • Step 5: After verification, receive the loan amount in your bank account. 

Reasons to take Doctor Professional Loan

You can utilize our unsecured loan for doctors to cover all of your professional financial obligations. Our Doctor Loans have no restrictions on their final use. Here are a few justifications for using one of our Doctor Loans: 
1.    Purchasing a new space to open your clinic 
2.    Enhancing or growing your current clinic 
3.    Acquiring fresh medical equipment 
4.    Using the most recent medical innovations 
5.    Investing in your future education 
6.    Putting your high-interest obligations together 
7.    Paying for your expenditures 

So, what are you waiting for? Get a Professional Loan for Doctors from Poonawalla Fincorp at an attractive interest rate to meet your financial goals.  

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