3. Settling for a Generalised Loan
Financial institutions acknowledge your potential for high income and recognise that your financial requirements are unique. Therefore, they offer tailor-made loans with specialised features to suit your needs. Applying for a doctor loan, specifically designed for medical professionals, is a wise choice. Such loans are typically tailored to your individual lending needs.  This will take into account your short and long term finance goals.

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4. Selecting the Correct Loan Term
The loan term plays a crucial role in managing your finances and ensuring a smooth cash flow. Commercial loan terms vary between 10 – 30 years depending on the type of security offered. Home loans generally benefit from an even longer repayment period of up to 360 months. Choose a loan term based on your repayment capacity and the purpose of the loan.

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5. Settling for Less than You Deserve
As a doctor, you have access to exclusive benefits when applying for a loan. These perks include faster approval, higher loan amounts, and even a line of credit for additional expenses, all at lower interest rates. It is essential to apply for a loan only at financial institutions that offer such qualification-related benefits.