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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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Loans For Doctors

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:

Finance For Doctors
  • 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

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Accepted Banks:

ICICI BANK LTD HDFC BANK LTD IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK KOTAK MAHINDRA BANK LTD

IDFC FIRST BANK LTD AXIS BANK BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK INDIAN BANK RBL BANK LTD DEUTSCHE BANK AG CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD CITI BANK BANDHAN BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK UCO BANK

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