Professional loans are very helpful for medical practitioners, CAs and engineers. It supports such professional individuals when they need financial support to diversify their business and work.
Loan Help For Medical Practitioners
Professional loan for medical practitioners is a great way to support the establishment of a new clinic, hire skilled medical staff and expand the clinic with advanced technologies. Any new changes or upgrade requires financial support. And a loan is the quick fix to that.
To support doctors renowned lender offer loans that come with facilities like pre-approved, quick disbursements and lots more. With the help of this loan amount, the doctor may hire new staff; add equipment, open new clinic branch and lots more. Especially for young doctors, such a loan is immensely fruitful.
To get a professional loan, one may apply to both banks and NBFCs. Doctors can avail both secured and unsecured loans from the lender. The eligibility criteria vary from lender to lender. But a few basic things remain the same if a doctor requires unsecured loans. It is always advisable to learn the details of the eligibility criteria before you apply for such a loan.
Both NBFCs and banks have their set of rules regarding the documents required for a doctor loan. The necessary documents that are mostly required are the KYC details of the person, proof of medical practice, certificate and medical license. If it is about secured loan type, then one has to submit the right papers of the mortgaged property to get the loan.
Rate Of Interest
Since doctors come with a comparatively lower rate of interest, it gets very easy to repay the loan in time. In most cases, you will find an unsecured loan rate ranging from 14 to 16%. In case of secured loan, this range varies from 8 to 9%.
Bottom Line
Pick the right lender for your loan. With a suitable lender, you can easily get loan approval and an attractive rate of interest.