Doctors always have a lot on their plate. With long working hours involving years of education and practice, doctors are always busy handling the responsibilities in their profession. Recognizing the unique challenges that are part of the medical profession, lenders like Poonawalla Fincorp have launched special loans for doctors. Known as Professional Loans for doctors, Poonawalla Fincorp offers collateral-free loans to doctors with a high loan amount and zero foreclosure charges.
The special loan for doctors can be utilized for a variety of purposes like clinic expansion, debt consolidation, buying office/medical equipment, or a medical emergency. This loan product is tailor-made for doctors so that they can meet their professional or personal goals. There is no restriction on the end use of this loan amount.
Here is all you need to know about special loans for doctors:
What is a special loan for doctors?

A special loan for doctors is a tailor-made loan product for doctors. Also known as Professional Loan for doctors, it is a collateral-free loan that can be taken by doctors with valid medical qualifications and experience.
Reasons to take a doctor loan
There are various reasons for which you can take a doctor's loan. Some of the most important reasons are outlined below:
- Acquiring a new clinic/expanding existing
clinic: You can take a doctor's loan for acquiring a
new clinic or expanding an existing clinic. As getting a new
clinic or expanding an existing one requires a lot of money,
a special loan for doctors can help you in arranging the funds
for realizing this dream.
- Buying
medical equipment: A special loan for doctors can
help you acquire the latest medical equipment. This will help
you in providing quality healthcare services to your
patients. Buying medical
equipment these days can be a costly affair due to the rising
number of innovations and the cost of the equipment. Therefore, a
professional loan can assist you in arranging for a funding
shortfall.
- Higher education
expenses: Higher education in the medical field is not
very cheap. It takes a lot of money to study further in this
field to build specialization in a particular area. A special
loan for doctors can be taken to fund your expenses towards
higher education. While an education loan normally just covers
the tuition fees, you can take a professional loan for doctors
and meet end-to-end expenses.
-
Consolidating high-interest debt: A special loan for
doctors is offered at competitive interest rates and can be
used to consolidate other high-interest debt like credit cards or personal loans etc.
- Personal expenses: A special loan for doctors is useful in meeting your expenses or emergencies. There is no restriction on the end-use for the special loans for doctors. It can be used both for personal and professional expenses.
Benefits of special loans for doctors
There are several benefits of taking a special loan for doctors from Poonawalla Fincorp. Some of the benefits of special loan for doctors from Poonawalla Fincorp are as follows:
- No collateral required: It is
collateral-free and is granted based on the income, education,
and experience of the applicant.
-
Higher loan amount: Poonawalla Fincorp offers a
higher loan amount of up to Rs. 30 lakh that can be granted as a
loan to doctors.
- Competitive interest
rate: An interest rate starting at 9.99% per annum is
offered to doctors with nominal processing fees and zero hidden
charges.
- Quick approval and disbursal:
Only KYC, income, and education documents are required
and quick approval and speedy disbursal are granted to
applications upon verification of documents.
- Charges: Zero foreclosure charges and no hidden charges are involved in special loans for doctors which makes it very affordable for the applicants.
How to apply for special loans for doctors
You can apply for special loans for doctors in five easy steps which are as follows:
- Visit our website or branch
- Check
eligibility for a doctor loan
- Fill up the
application form
- Upload the required documents and
submit the application
- Get the loan amount in your bank after verification of documents
You can apply today for a special loan for doctors and get closer to achieving your professional or personal goals.