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7 Reasons to Apply for a Personal Loan for Doctors

Funds are available to help you cover your multiple if you have the required eligibility. Yes, modern finance options have eased out the availing of the funds and you need not be dependent on your income and savings accomplish financial goals. But, a question that would come to your mind is- NBFC vs. Bank which one should you choose while taking personal loan for doctors.

Yes, banks and non-banking finance companies (NBFCs) offer loan facilities to all and doctors are no exceptions. Even a doctor is entitled to a higher loan amount from lenders to fulfil their many needs.

If you are a doctor and is willing to go on a holiday, send your child to overseas for higher education, consolidate existing debts and more, you can take a personal loan for doctors.

Compared to banks, non-banking finance companies (NBFCs) provide a higher loan amount to doctors laced with many features and benefits. Let’s have a look!

What is a personal loan for doctors?

As the name suggests, a personal loan for doctors is a unique facility designed by NBFCs to aid doctors to accomplish many financial goals in life. They are offered an amount as higher as Rs.35 lakh at lower rates and extended tenor.

Reasons to apply for a personal loan for doctors from an NBFC

Be it the processing time, money disbursal, loan amount, interest rate, tenor, other charges and more, an NBFC scores over banks big time. Here are some of the reasons to apply for a personal loan for doctors from an NBFC:

  • A higher personal loan amount

Doctors can apply for a personal loan from an NBFC for as high as up to Rs.35 lakh to assist you to use the amount to the best of your advantage.

  • Quick processing

For availing the personal loan for doctors, you won’t need to wait endlessly for your loan application to get approved. You will just need to wait for 24 hours for your personal loan application to be approved from leading NBFCs.

  • Wider loan tenor to help you repay the loan

Why pay more and soon, and disturb your monthly income when you can easily stretch the payment of your personal loan for doctors into wider tenor and pay smaller EMIs? Yes, leading online non-banking finance companies (NBFCs) can help you enjoy a wider tenor ranging from 12 and 96 months to fit your preferences.

  • No lengthy documentation hassles

There is no lengthy and tedious documentation when you apply for the personal loan for doctors from an NBFC.

  • No need to arrange for any collateral

Since the personal loans for doctors is an unsecured type of loan, you need not worry to arrange for any collateral, guarantor or security to furnish you the loan.

  • Part-prepayment facility

If you want to make some part-prepayment on your ongoing physician personal loans, you can be allowed to do so without paying any charges or penalties to your lenders.

  • Round-the-clock online account management

Modern-day lenders let you access all your loan account information through their digital customer portals. It assists you access and tracks your loan account from anywhere and on-the-go!

The Bottom Line

With so many benefits available while applying personal loans for doctors from the non-banking finance companies, should you wait anymore to look any further?

Move over banks and their lengthy and complicated application procedures to delayed money disbursal methods and apply online for the loan at a leading NBFC’s website.

As you read this, more and more doctors and other needy professionals looking for multiple types of loans are already applying to an NBFC and getting the loan easily.

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