5 reasons why physicians should consider taking a personal loan - Loan Trivia

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Friday, 8 February 2019

5 reasons why physicians should consider taking a personal loan

Several financial institutions offer customized personal loans for physicians which can cater to their personal needs. Here are five reasons why physicians should consider taking physician loans.

1. Collateral-free loans

Personal loans for physicians are collateral free which makes it easier for physicians who don’t have a prominent asset to keep as security. It also accelerates the loan process due to the circumvention of legal formalities.

2. Easily available

Physicians can avail for a personal loan easily by simply submitted an online application form along with relevant documentation. The loan amount will be sanctioned as soon as the financial institution verifies the application.

3. Minimal documentation

Apart from an easy application; physician loans require minimum documents, such as KYC documents, IT returns, and bank statements.

4. Large amount

Physicians can get you to Rs.30 Lakh. The amount of sanctioned depends on the credit score apart from other factors.

5. Flexible withdrawal funds

Flexi-loans allow physicians to borrow as and when needed from the approved limit. The interest is charged only on the amount utilized which helps in keeping the EMI low.

Taking physician loans has got easier with the representative of the chosen financial institution coming to collect the documents at the doorstep. Make sure that the right lender is selected before applying for the physician loan.

To know more about the personal loan for physicians, click here: 5 Reasons Why Physicians Should Take A Personal Loan

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