professional loan

Professional Loan Frequently Asked Questions

Loan up to 30 Lakhs | Attractive Interest Rate | Zero Foreclosure Charges

Availing a professional loan is a serious undertaking, and it is best to go in knowing all you can about it. Here are answers to some of the most frequently asked questions about the Poonawalla Fincorp Professional Loan.

When should I take a professional loan?

Ideally, the best time to take a professional loan is when you’re looking to handle big-ticket expenses affordably. A professional loan relieves the burden on your personal and business finances and offers you a more efficient way of handling an expense, be it for professional or personal needs.

Who is eligible for the Poonawalla Fincorp Professional Loan?

Self-employed professionals such as doctors, company secretaries, and chartered accountants are eligible for a Poonawalla Fincorp Professional Loan. However, to get approval, professionals must meet the professional loan eligibility criteria.

How can I apply for a professional loan?

Professionals that meet the criteria can apply for a Poonawalla Fincorp Professional Loan offline or online. For an offline application, use the branch locator to find the nearest branch and submit an offline application. To apply for a professional loan online, click on ‘Apply Now’ on the official website.

How can I apply for a professional loan online?

Our online application process is simple and can be completed in 5 steps. All you need to do is visit the webpage, click on ‘Apply Now’, fill the easy form, upload documents, await approval, and authorise disbursal.

Do I have to pledge assets to get a professional loan?

No. This is an unsecured offering, and you do not need to pledge assets to qualify for the sanction.

What is the rate of interest for a professional loan?

The Poonawalla Fincorp Professional Loan is available to professionals at a competitive rate. At just 10.99% p.a., this is one of the lowest rates in the market and provides you with a cost-effective financing solution.

What is the maximum sanction available through a professional loan?

The maximum sanction available through our professional loan is Rs.30 lakh. However, the sanction you can get approved for completely depends on your profile.

What is the penalty for professional loan prepayment?

Prepayments can help save a lot of money, and our loans help you work toward that goal. As such, you can prepay your Poonawalla Fincorp Professional Loan at no additional cost or penalty.

What is the minimum and maximum tenure on a professional loan?

To offer a flexible and comfortable repayment experience, you can repay your Poonawalla Fincorp Professional Loan on a tenure that ranges between 12 and 60 months. This makes it an ideal solution for almost any short-term financial goal.

What are the eligibility criteria for a professional loan?

All applicants must meet the age, work experience, and income criteria to qualify for the Poonawalla Fincorp Professional Loan.

What are the documents required for a professional loan?

We have a minimal requirement for documentation, and you only need to submit basic paperwork to get approved. These include KYC, financial, and qualification documents.

What is the minimum professional experience required to get a professional loan?

All professionals must have maintained a professional practice of at least 1 year, in order to qualify for the loan.

What is the credit score required to get a professional loan?

Ideally, you must maintain a good credit history and an excellent credit score to have the best chance at approval. With a high score, you are sure to get instant approval and may even secure a special loan deal.

Where can I find the professional loan eligibility criteria for doctors?

We have a standard set of eligibility criteria for company secretaries, doctors, and chartered accountants. You can learn more about them online, on the official webpage, or you can contact customer support.

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