professional loan

Professional Loan Frequently Asked Questions

Loan up to 50 Lakhs | Attractive Interest Rate | Zero Foreclosure Charges

Financial knowledge always helps you to plan your finances better to avoid any debt trap. Similarly, availing of a Professional Loan is a serious undertaking, and it is best to gain ample knowledge about the various aspects of the loan before you proceed. To help you understand better, we have curated a few of the most Frequently Asked Questions (FAQs) about the Professional Loan.

When should I take a Professional Loan?

You can avail a Professional Loan as per your financial requirements. A Professional Loan helps you with the capital for your personal or professional needs and efficiently handles your expenses.

Who is eligible for the Poonawalla Fincorp Professional Loan?

Self-employed professionals such as Doctors, Company Secretaries (CS), Chartered Accountants (CA) etc., are eligible for a Poonawalla Fincorp’s Professional Loan. However, to get approval, professionals must meet the Professional Loan eligibility criteria.

How can I apply for a Professional Loan online?

Our online application process is simple and can be completed instantly. All you need to do is visit the webpage, click on ‘Apply Now’, enter the details in the form, upload documents and await approval. For an offline application, use the branch locator feature on our website to find the nearest branch and apply for a Professional Loan.

Do I have to pledge assets to get a Professional Loan?

No, you don’t have to pledge assets to get a Professional Loan. Poonawalla Fincorp offers unsecured Professional Loan where you don’t have to pledge any collateral.

What is the rate of interest for a Professional Loan?

Poonawalla Fincorp offers Professional Loan at competitive interest rates. Our interest rate for Professional Loan starts at 9.99% p.a onwards.

What is the maximum sanction available through a Professional Loan?

The maximum sanction available through our Professional Loan is ₹50 Lakh. However, it depends on various other factors such as your CIBIL score, loan tenure, income, etc.

What is the penalty for Professional Loan prepayment?

You can prepay your Poonawalla Fincorp’s Professional Loan at no additional cost or penalty. Please note that it depends on the lender; other lenders might levy charges on prepayment. As a borrower, you must read all the documents carefully to avoid any unforeseen circumstances.

What are 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.

What can I use a Professional Loan sanction for?

We offer a multi-purpose Professional Loan that can be used to meet any personal or professional financial obligations. You can use these funds for personal purposes, to hire new staff, purchase new machinery, expand your profession etc.

What are the eligibility criteria for a Professional Loan?

All applicants must meet the eligibility criteria provided for Poonawalla Fincorp’s Professional Loan at

Note: The above-mentioned Professional Loan eligibility list is indicative. Additional documents & eligibility criteria may be required during loan processing by Poonawalla Fincorp.

What are the documents required for a Professional Loan?

You only need to submit basic documents to get loan approval. The complete list of documents is provided on the Professional Loan eligibility and documents page.

*Do note the above-mentioned list of Professional Loan eligibility documents is indicative. Additional documents may be required during loan processing.

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 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 credit score to have the best chance of approval. With a high credit score, you are highly probable to get an instant approval.

Where can I find the Professional Loan eligibility criteria for doctors?

We have a standard set of eligibility criteria for Company Secretaries (CS), Doctors, and Chartered Accountants (CA). You can learn more about the criteria on the Professional Loan eligibility and documents page.

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