Call on : +919610338144 For Personal Loan
What do you mean by Professional Loan?
Professional loans are personalised credit offerings for working professionals such as doctors and chartered accountants who need funds to expand or start their practice.
These loans are tailor-made to suit the financial needs of these professionals, such as for clinic expansion or to start a new office or branch.
Arena Fincorp offers a range of special loans to help professionals like doctors and chartered accountants (CAs) meet their financial goals.
Our professional loans are designed keeping in mind the diverse professional and financial commitments of doctors and CAs.
They are offered with simple eligibility criteria, minimal documentation, and quick disbursal of funds.
Professional Loan Eligibility
The basic criteria for professional loan eligibility are –
- The borrower must have a professional degree/diploma in his field of expertise to apply for a professional loan.
- The borrower can apply for this loan individually or in collaboration with a firm, partnering companies or proprietorships.
- The borrower must be within the age group of 25-65 years.
- The borrower must have a minimum work experience of 4-5 years
- In case the borrower already has an existing practice, the minimum annual income of the business must be INR.1,000,00.
While these are just some basic eligibility criteria, it is important to note that some of these criteria may vary as per the terms and conditions of different banks or financial institutes.
Apply for a Professional Loan in just a few minutes
Follow our step-by-step guide to apply for a personal loan. You can start your online application and resume it at a later instance
- Click on Apply Online to open our online application form
- Fill in a few details and verify the OTP sent to your phone
- Enter your KYC and income data
- Choose the loan amount you want to borrow
- Submit your application
Professional Loan Calculator
Arena Fincorp Professional Loan EMI Calculator
*These calculators are provided only as general self-help Planning Tools. Results depend on other factors.
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*These calculators are provided only as general self-help Planning Tools. Results depend on other factors.
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Things to Consider before Applying for a Professional Loan
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Check your requirements
A professional loan for doctors will have a different financial requirement as compared to a professional loan for chartered accountant. Therefore, it is better to assess your entire professional loan financial requirement before approaching any loan provider.
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Compare your rate of interest
Different loan providers offer different interest rates on their professional loans. Hence, before choosing your loan provider it is advisable to compare all your options in the market and make an informed decision about your professional loan.
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Watch out for any hidden charges
Most loan providers are transparent about their loan processing fees and other charges involved. However, just to be sure, comb through the terms and condition of your loan agreement to see whether there are any hidden charges involved. If you overlook any of these hidden charges at the time of signing your loan agreement, you might have to face some financial strain in paying them later on, during your loan repayment tenure.
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Check for the loan provider’s credibility
It is important to check your bank or loan provider’s credibility before availing any professional loan with them. This would ensure that you do not face any legal liabilities or financial hassles during your loan tenure. Looking for a professional loan that offers attractive interest rates? Visit Finserv Markets and apply for the Bajaj Finserv Professional Loan today! The professional loan available on Finserv markets, are custom-made, which come with minimal documentation and fast online processing. What’s more? Now you can also avail value-added services on your professional loans such as financial fitness reports and loan protection insurance plans. Hurry! Download the Finserv MARKETS Loan App to apply for the loan that best suits your profession!! To know more about our loan eligibility criteria and the documentation required, get in touch with our representatives at Finserv MARKETS today!
