What are the documents required to avail a Personal Loan for Doctors?

Doctors are required to submit their medical certificate and post-qualification papers, along with the basic identity proofs such as Aadhar card and PAN card linked to your mobile number. In the absence of your Aadhar card, submit passport/driving license/utility bills.

How long does it take to get a personal loan for Doctors?

Once the document processing is done and verified, it doesn’t take more than 48 hours to disburse loan for Doctors.

What are Personal Loan Eligibility Criteria for Doctors?

Personal loan eligibility for Doctors depends upon their income/salary, and ability to repay the loan in the given tenure.

Loan For Doctors

Personal loans for doctors, physicians, and medical staff are exclusively designed to meet their unique professional and personal goals through timely finance. It includes advanced educational expense, business expansion or renovation investment, upgraded clinical equipment bills, wedding costs, and vacation expenditure. Loans for doctors help them to maintain a cash flow or to buy a new property for setting up a clinic or a hospital. With the loan amount being disbursed to your account, personal loan application for doctors is 100% hassle-free.

Doctors and individuals involved in the medical profession have an unpredictable and occupied schedule each day. Finding time to visit the bank branch for loan applications is a time-consuming task. Instant personal loans for doctors via online loan apps or credit portals are a smarter way to submit a personal loan application. On digital loan platforms, a considerable amount of time is saved and loans for doctors can be sanctioned in minutes with expected disbursal time in 24 to 48 hours.

SimplyCash is an instant personal loan app best suggested for doctors, physicians, and medical professionals. Launched by HeroFinCorp, SimplyCash is customized to offer ease of loan application, paperless documentation, and quick approval. Download SimplyCash from Google Play Store to get started with the personal loan process.

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Features and Benefits of Personal Loan For Doctors

Customized Interest Rate

The principal loan amount is always charged with an interest rate. The interest rate levied for a doctor’s personal loan depends upon their medical profile and income slab. This ensures suitable interest is applied for doctors’ loans that don’t make the loan a burden to repay.

Stress-Free from Collaterals

A personal loan being unsecured has no requirement of mortgaging assets or property against a loan. This is one of the reasons why a personal loan takes less time for approval. So, even personal loan for doctors falls in the category of unsecured loans that demands no collateral for doctor’s loan sanction.

Personalized Loan Management

Instant loan apps in mobile phones enable Doctors to easily manage their loan application, documentation, and status of a loan. Checking the personal loan status for doctors’ loans through instant loan apps is an ideal way as doctors can manage to check anything related to their personal loan in minutes, not disturbing their busy schedule.

Ease of Documentation

Photocopies of mandatory documents are no longer required as documents are added in a digital format. To avail of personal loans for doctors, the borrowers have to upload soft copies or enter authorized codes given on their personal documents such as the Aadhar card number, PAN number, etc. for E-KYC verification of doctor’s loans.

Automated EMI Deduction

Once personal loan for doctors is sanctioned and disbursed, they will not have to remember the payment date of EMIs every month. Due to the automated debit option, the EMIs for doctors’ loans will be deducted automatically and payments will not be missed.

Eligibility Criteria for Personal Loan for Doctors

Financial institutions in India created personal loan apps to meet the financial requirements of different income groups. Loan for doctors is also one category of personal loan helping the medical professionals to support different financial needs. Like a eligibility check before the loan application, likewise even personal loan for doctors has set eligibility criteria. Personal loan eligibility for doctors depends upon income/salary, and ability to repay the loan in the given tenure:

1

Doctors’s graduation certificate and post qualification experience
2

Doctors should own a house, clinic or a hospital
3

Medical registration certificate
4

Details of an active bank account where the salary/income gets credited
5

Proof of business

6

Doctors’s age should be between 21 years to 58 years
7

Identity Proof (Aadhar card/Passport/Driving License)
8

Address Proof (Ration card/Passport/ Electricity bill/Telephone bill)
9

Income Proof (6 months bank account statement & Income tax return file)

Depends from lender to lender.

How to Apply for Personal Loan for Doctors

Being a doctor or a health practitioner is a responsible profession that requires the skill, knowledge, and experience to improve the patient’s health. For improvising the quality of medical treatments, many doctors opt for a personal loan for doctors. Besides, professional reasons, loans for doctors can also be availed to meet personal financial commitments. Doctors can opt for an instant way of applying for a personal loan online:

Install apersonal loan app in your android phone through Google Play store
Register using your email id or mobile number.
Fill in the loan application form, consider the mandatory fields
Use the loan EMI calculator to derive a suitable EMI. Use the slider to flexibly change the variables.
Upload the loan pre-requisites – Aadhar Card, Mobile number linked to Aadhaar (for OTP), PAN Card and Bank account details
On verification, the loan approval and disbursal are done within 48 hours

Make Personal Loan your Best Friend on this Friendship Day

So, it's August! That time of the year when the world celebrates ‘International Friendship’s Day. But, in this pandemic situation, when life appears to be a plain vanilla due to an adverse financial crisis, a personal loan truly arrives as a best friend, helping with immediate finance in just a few hours.

What is the interest on Rs.1 lakh personal loan?

A personal loan is an unsecured loan that doesn’t require any kind of collateral submission. But what makes borrowers think twice about a personal loan is the added interest rate charged on the principal loan amount. The rate of interest on a 1 lakh personal loan via the SimplyCash app is 2.08% per month.

How to apply online for an instant personal loan for an emergency?

An emergency situation demands timely finances to cope up with the shortage. Whether it is buying a medical dose, booking travel tickets, or fixing your house walls, any emergency situation can ring a bill to avail of instant personal loans online. SimplyCash is a fast pace instant loan app, which is just the right source to acquire an emergency loan from 50,000 to 1.5 lakhs.

How to get a personal loan without a salary slip?

A Personal loan is sanctioned based on identity proofs and income documents. Depending upon lenders, borrowers are required to submit authentic documents reflecting their income stability, so that there is no risk involved in repayment. In the absence of a salary slip, borrowers can submit their latest bank statement copy reflecting the last 6 months of bank transactions.

How to get Personal loan using an Aadhar Card?

Aadhar card, a 12-digit identification number issued by the UID of India on behalf of the government of India, serves as a proof of identity and address, anywhere in India. And now it is also an essential document for availing online instant personal loans. Aadhar Card is a mandatory document when you apply for an instant personal loan online via loan app.