Get a Tailor-made Professional Loan for Your Unique Requirement
Poonawalla Fincorp’s customized Professional Loan is loaded with features that suit your niche needs. We have optimized every step of the loan lifecycle, across loan application, disbursal, and repayment to ensure you have a hassle-free experience.
We understand that time is a precious commodity to a professional, and so, we have simplified access to funding, down to just a few clicks. With the right profile and financial history, you can get instant approval and disbursal digitally.
Various Reasons to Take a Professional Loan
To help you cater to any financial obligation or requirement, we offer a multi-purpose sanction. There are no restrictions on usage, and you can use this loan for any purpose.
Some of the reasons why you may use a Poonawalla Fincorp Professional Loan are:
- Expanding your practice
- Enhancing your professional skills
- Renovating your office space
Calculate your monthly EMI for Professional Loan
-
EMI Amount = *
Features & Benefits
We offer a wide range of benefits and features in our Professional Loan. Some of the benefits associated with a Professional Loan are mentioned below:
- Multi-purpose sanction up to ₹50 Lakh
- Collateral-free loan for professionals
- Flexible tenure ranging up to 60 months
- Competitive professional loan interest rates
- No prepayment and foreclosure penalty if paid from own sources
- Online Professional Loan with quick approvals
- Minimal and basic documentation
- Complete transparency with no hidden costs
- Loan planning with the professional loan EMI calculator
Professional Loan Eligibility Criteria
To ensure fast loan approval and enjoy hassle-free disbursal, professionals need to meet eligibility criteria based on the following parameters:
- Age
- Professional experience
- Income
To know more about the Professional Loan eligibility criteria, visit the official webpage or contact our support team.
*Do note the above-mentioned Professional Loan eligibility list is indicative. Additional documents & eligibility criteria may be required during loan processing by Poonawalla Fincorp.
Documents Required for a Professional Loan
We understand the value of a quick turnaround time and have optimized our loan process accordingly. To minimize delays and facilitate a hassle-free experience, you only need to upload basic documentation. As such, you don’t need to furnish a lot of paperwork and can get access to funds without any delays.
To successfully apply and get approval, submit:
- KYC documents
- Financial documents
- Qualification documents
You can find more information about the specifics of the documents required for a professional loan on our official webpage.
*Do note the above-mentioned categories of documentation for Professional Loan is indicative. Additional documents may be required during loan processing.
Under the Professional Loan category, we offer
- Professional Loan for Chartered Accountants (CAs)
- Professional Loan for Company Secretaries
- Professional Loan for Doctor
Frequently Asked Questions
What is a professional loan?
A Professional Loan is an unsecured loan that is taken by professionals such as Chartered Accountants (CA), Doctors, Company Secretaries (CS), etc. for fulfilling their professional funding requirements. This loan is not available to salaried persons or businesspersons and is tailor-made for these self-employed professionals. Typically, a Professional Loan can be used for anything related to professional practice.
How to apply for a professional Loan?
There are a few key pointers and tips to keep in mind before opting for a professional loan.
- 1. Know how much capital you need
- 2. Check the professional loan interest rates on offer
- 3. Inquire about the specific professional loan eligibility criteria for CS, CA, or Doctor
- 4. Use the EMI calculator to check EMI and amortization plan
Applying for a Professional Loan is a very easy process with a lender such as Poonawalla Fincorp. The process consists of just a few steps that you need to follow which are enlisted as follows:
- Go to the link https://professional-loan.poonawallafincorp.com/
- As a self-employed professional, select your applicant type – individual or firm and then select your profession
- Before submitting the form add details such as Name, Mobile Number, Email ID, PAN number, Loan amount, Tenure etc. and upload documents
- Your details will be verified by a representative from Poonawalla Fincorp
- If you fulfill all the eligibility criteria, the loan will be approved quickly, and once authorized, money will be credited to your account
What is eligibility for a professional loan?
A Professional Loan has certain eligibility criteria which are set by lenders as they want to be sure that the borrower can repay the loan. Poonawalla Fincorp has simple eligibility criteria for a Professional Loan. These are as following:
- Age – minimum 24 years at the time of applying for the loan and maximum 65 years at the time of loan maturity. This is to ensure that the borrower is of working age and can earn sufficient income to be able to repay the loan
- Work experience – at least 1 year after qualification. This criterion is to make sure that the borrower has some work experience and some stability
- Income – Annual professional receipts of at least ₹3 Lakh
Note: The above-mentioned Professional Loan eligibility criteria is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
What are the documents required for a professional loan?
The documents required for a Professional Loan are largely for KYC compliance, verifying the financial status of the borrower and ascertaining his / her professional credentials. Following is the list:
- KYC-related documents for self-employed professionals – PAN Card, Aadhar Card, residence address proof, business address proof, firm or member card (only for CA and CS)
- KYC-related documents for firm or company – PAN card of the company, business address proofs, applicable registrations, PAN Card and Aadhar Card of the key persons and their residence address proof
- Financial documents – last six months’ bank account statement
- Professional qualification proofs – professional degree certificate and certificate of practice
This list of documents required for a Professional Loan is indicative. The company may ask for more documents in cases where greater scrutiny is required.
What are the age requirements to apply for a Professional Loan?
Any lender sets an age limit for loan disbursal. The age limit for a Professional Loan from Poonawalla Fincorp is between 24 years and 65 years (at loan maturity). This is done to ensure that the (prospective) borrower has sufficient time in hand to repay the loan.
What is the rate of interest for professional loan?
The rate of interest rate on a Professional Loan varies greatly from lender to lender. It depends on several factors. A lender such as Poonawalla Fincorp tries to keep the interest rate on its loans as low as possible, so that borrowers are not burdened by heavy EMIs during loan repayment. The prevailing rate of interest on Professional Loan from Poonawalla Fincorp starts as low as 9.99%* per annum. This rate is among the most competitive in the industry. Apart from this interest rate, there is also a nominal processing fee up to 2% of sanction amount plus applicable charges.
*T&C Apply
Why should I apply for a professional loan online?
The main reason to apply for a professional loan online is that it is a time-efficient process and by applying online you don’t have to physically visit a branch to get the funds you need.
Applying for a Professional Loan online has many advantages. Firstly, it is convenient. You can apply for a Professional Loan online from the comfort anywhere at a date and time of your choice. Secondly, it eliminates the need to visit a branch in person. If you do not have time to visit a branch or simply do not want to visit it for health and safety reasons, applying online is the right option for you. Thirdly, it is not necessary to carry the documents physically with you. You can simply submit these online and get quick approval. New-age lenders such as Poonawalla Fincorp allow you to apply online and get quick approval and disbursement.
Are there any special benefits offered on the professional loan scheme for doctors?
Our professional loan in India for doctors is a specialized and customized offering. There are many special benefits on offer including lowest interest rates, cost-effective prepayment with no prepayment charges, simplified online loan processes with easy documentations.
How can I get an instant loan for doctors?
To get quick funding as a doctor, simply apply for our online professional loan. Complete the entire process in just a few easy steps and enjoy instant approval and disbursal too!
- 1. Visit the company website https://poonawallafincorp.com/.
- 2. Check your eligibility for Poonawalla Fincorp Doctor Loan by visiting the link - https://poonawallafincorp.com/professional-loan-eligibility-and-documents.php.
- 3. Click on ‘Apply Now’ and fill in the details required in the loan application form.
- 4. If you are filling out the form online, upload soft copies of the required documents. The entire list of documents is available in the link mentioned in Point No. 2 above.
- 5. Once your details are verified by us and the loan is approved, you will get the loan credited in your bank account quickly.
What should I keep in mind when availing a new professional loan?
While availing a new Professional Loan, you must keep a few things in mind. Firstly, check if you fulfil all the eligibility criteria. These are related to age (min 24 years at the time of application and max 65 years at the time of loan maturity), work experience (one year of practice post qualification) and income level (minimum annual professional receipt of ₹3 Lakh). Secondly, ensure that you have a good credit score. Thirdly, make sure that you keep all documents ready. The documents require are related to KYC, address proof, professional proofs, financial statements, etc. If you are ready with these three things before availing a Professional Loan, the process will be simpler and loan disbursal faster for you.
