PRN Personal Loan For Physicians
Compared with high-interest credit cards, a PRN Loan is better debt. Fair and affordable personal loans for doctors and trainees starting as low as 8.49%1
PRN Personal Loans For Physicians
Fair and affordable personal loans for doctors and trainees starting as low as 8.49%1
We Give Doctors A Better Deal!
Fixed APR With Autopay Discount
8.49%
Average Credit Card
Fixed APR With Autopay Discount
23.24%
Average credit card rate accurate as of 2/28/23.
What Is A PRN Loan?
A PRN Personal Loan gives you access to money when you need it most. Just as the name suggests, a PRN Loan – pro re nata or “as needed” – is designed specifically to give medical students, trainees and doctors access to money as needed.
Why Take Out A PRN Physician Personal Loan?
The cost of residency applications, board examination fees, life events, and relocation – how can you expect to pay for everything?
Physicians deserve a better option than being forced to use credit cards or ask family or friends for help.
And whether you are a medical or podiatry student, resident or attending you can have a period of reduced payments.
How Can You Get A PRN Physician Personal Loan?
Our digital application can take as little as 8 minutes to complete and you do not need a cosigner. Then you can get funds in as little as 24 hours and it’s your money as needed.
Attendings
- Interest-only payments during first 6 months of loan4
- No cosigner required
- No fees
- Soft credit check that won’t impact your credit score
Rates as low at 8.49% APR
Residents & Fellows
- Reduced interest-only payments during years 1 & 2 of loan 3
- No cosigner required
- No minimum credit score
- No fees
- Soft credit check that won’t impact your credit score
Rates as low at 12.00% APR
4th Year Medical & Podiatry Students
- No payments for 1 year
- Reduced payments during training 2
- No cosigner required
- No minimum credit score
- No fees
- Soft credit check that won’t impact your credit score
Rates as low at 12.36% APR
FAQs
U.S citizens or permanent residents who are:
- Enrolled full time in a U.S-based accredited medical or podiatry school in their fourth year
- Working in a U.S. medical residency or fellowship
- Working as an attending physician with an active license in good standing
Yes you can. You can even have multiple PRN Personal Loans with Panacea. We set maximum borrower amounts based on your current status: fourth-year student, in residency/fellowship, or attending physician. You can borrow up to the maximum amount for your status. For students that’s $15,000, for residents/fellows, it’s $30,000, and for attendings it’s $75,000.
For any number of reasons! Many use our PRN Personal Loan for doctors to refinance toxic credit cards, pay for moving expenses, home renovations, or any unexpected life cost like healthcare bills! It's PRN - your money, as needed. No one should borrow more than they need but doctors should have a healthier option of debt instead of depending on credit cards or borrowing from friends or family.
We don’t require a cosigner for a PRN physician personal loan because we know you are trustworthy and deserve to be treated like an adult. Traditional banks don’t understand that which is why they can ask for cosigners in order to offer their lowest rates.
The application process takes less than eight minutes online. And if you choose a Panacea Checking account, you can get your funds in as little as 24 hours.
- As a medical or podiatry student, you don't have to make payments for one full year! Then you'll pay interest only while in residency.
- As a resident or fellow, you'll only pay the interest on your loan for the first few years, depending on your term.
- As an attending, you'll only have to pay the interest for the first 6 months, then your full payments will start.
Articles & Resources
Explore our collection of advice and tools to help physicians better position themselves for career and financial success.
- December 10, 2020
- March 9, 2021
- February 5, 2021
- November 13, 2020
