What are Professional loans for doctors?
What are Professional loans for doctors?
Practicing or consultant doctors often seek better financial aid to realize a dream of owning a multispecialty clinic. To finance your short term and long term business goals as a doctor, you find no better alternative than a professional loan. These types of loans provide genuine financial help without getting into tedious formalities. Owning a clinic may be a luxury but it is surely a dream for someone, who wants to serve the best medical services to his patients.
Since creating a space to serve patients with the best medical care is an expensive affair, these loans can be of great help. The loans ensure medical professionals have instant financial help available to run a clinic at its optimal. With loans for doctors, you actually gain the potential to operate the clinic smoothly. Whether it is to expand your clinic or pay salaries to your staff, the funds are just a click away.
Integrating technology into your practice is no longer an expensive bet. All you need to do is to reach out to advisors at Finfree Enterprises. Purchasing new medical equipment is also not a tough task as these loans are available with no restrictions on their usage.
Serving your patient’s needs has become somewhat convenient. All you need to do is to have an impressive plan for setting up a clinic and you can acquire funds to execute your plans.
At Finfree Enterprises, we always look forward to providing you with transparency in our services. We help loan applicants to raise funds with easy repayment options. The loans are available in both secured and unsecured manner depending on the amount you request for. You can borrow up to 5 crores rupees with these loans. Our role comes when you are desperately looking for funds. We help you get your loan sanctioned within 3 to 4 working days.
The loans are offered to doctors at interest rates of 10.75% onwards. You can check the interest rates and get rewarded with flexible repayment tenure of 1 year to 6 years. Since we are committed to making the loan procedure smooth, you can connect with us at any time to seize real-time loan deals.
Professional loans offer immediate financial help to doctors, looking to get the most out of their medical career and enhance their practice. Finfree Enterprises focuses on simplifying the loan procedure and works according to the Indian government’s ethics to process the loan application. Since every bank and NBFC has different eligibility criteria, we have covered some basic minimum requirements here. Check out the commonly considered criteria below:
Your age should be between 21 years and 65 years
Candidate must be BHMS or BAMS, MBBS doctor
Practicing or salaried doctors having income > 5 lakhs can apply
Minimum two years at the current place of residence
Maintain a credit score > 700.
Must have an active bank account
Just like different eligibility criteria, banks and other NBFCs require different documents for verification purposes. At Finfree Enterprises, we help you know the common documents required as proof for verification and authenticity of the loan applicant. Here are a few documents that you must submit at the time of application for the verification process:
Income Proof - provide documents such as ITR for the last 2 years.
Education - Provide your certificates as proof of education
Identity Proof - Pan card/ Voter ID card/ Driving License/ Passport/ Aadhaar Card.
Property Ownership Proof - Latest gas bills/ latest property tax bills of either office or home/ bank passbook/ Driving license
Certification – Medical registration certification
INR 1,00,000/- taken as a loan amount over a loan tenure of 12-months at an annual interest rate of 10.75% will have a total payback amount of Rs. 1,05,918/- with a total payable interest amount of Rs. 5,918/- and a monthly EMI of 8,827/-.
Finfree Enterprises is a financial advisory platform in Hyderabad, Telangana that connects creditworthy borrowers with trustworthy financial institutions like the banks & NBFCs, to provide suitable fundraising options for individual applicants & for businesses across India, at the most considerable interest rates. The finally imposed interest rates will be dependent on various aspects like the borrowing loan amount, loan type, loan tenure, borrower’s credit score, financial record, employment details, income, and other relevant factors. The borrowed loan amount will have to be paid back as per the scheduled repayment plan, as decided by the borrower & the financier.
|Interest rates||10.75% onwards|
|Processing fee||It ranges from 0.5 - 1 % or depends on the bank’s policy|
|Loan Tenure||From 1 years to 6 years|
|Loan Amount||Min 10 lakh & Maximum 5 crores|
|Lock-in period||It may vary from bank to bank|
|Pre-closure charges||Pre-closure charges vary from bank to bank|
|Guarantor Required||No guarantor is required|
At Finfree Enterprises, we are dedicatedly working to helping you get your loan sanctioned with ease. We are providing exclusive loan deals to suit your purposes. Our team focuses on assisting you to acquire funds without getting into complicated formalities. Moreover, we strive to boost your loan application to ensure smooth and prompt approval. Let’s have a glance at the benefits of acquiring funds with professional loans with us: