Obtaining a loan for doctors should not be particularly difficult, at least that’s what the general public of German citizens suspect. Due to the relatively high fees in connection with one of the most respected job profiles in the world, medical doctors themselves are always in a matter of course, where a possible rejection of a loan is not even considered. However, the reality is partly different, because even doctors are not completely exempted from possible rejections with a loan for doctors.
Nevertheless, due to the high demand for the profession and the above-average income, doctors are relatively often granted higher loans. Even if these are only used to start a business, for example if the doctor concerned plans to use his own practice to break away from the classic employee / employer relationship.
Credit for doctors should be distinguished
In general, a loan for doctors should first be divided into whether the loan amount is required for private purposes and the borrower only corresponds to the job description of the doctor, or whether the doctor needs the loan to continue his professional activity, for example if he is the owner or part-owner of one own practice acts. If the loan supports the continuation of the professional activity, doctors usually have to apply for large amounts of credit from the lender, since both medical tools, personnel and the acquisition and maintenance of the affected practice cause high costs. If fear has been successful in practice for a long time, there is nothing standing in the way of a loan with the appropriate Credit bureau entry.
The situation is different for doctors who are only employed on a time basis, as is the case, for example, in hospitals. Since doctors are often hired here at short notice and only for a period of a few months, regular income from one’s own profession is by no means guaranteed, which in turn can have negative consequences for one’s own creditworthiness. Even young professionals, commonly referred to as assistant doctors, earn much less than the profession that would initially assume. The consequences for borrowing are far-reaching, because a doctor who maintains a lower income for the job description and only a contract on a time basis is not an ideal candidate for a loan from the banks’ point of view.
Be flexible and inform yourself
An online comparison can also be used to quickly find and compare a loan for doctors, which directly shows the effective interest accrued and the average rate for successful acceptance. Whether for a small loan for private purposes or for starting a business, a loan for doctors is by no means a sure-fire success, but usually has good chances of being successfully paid out by the lender.