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How are Doctor Loan Applications Processed

How are Doctor Loan Applications Processed

Reports suggest that the Indian healthcare market is set to hit a record high of Rs. 37,000 Crore by the year 2022. As a medical practitioner, you can expand your horizon of practice in this nation-wide growth by upgrading your clinic’s equipment, improving surgery and treatment rooms or hiring any medical staffs. To nurture these ambitious projects, you need a steady supply of finance. Thus, the need for a doctor loan arises to keep your medical practice afloat.

Available in both unsecured and secured variants, professional loans for doctors facilitate the above requirements and more. These loans promise a high-value and hassle-free procedure of financing exclusively designed for established and aspiring medical practitioners. With benefits like speedy disbursal procedure, flexible repayment tenors and competitive interest rates make these loans instant access to finance.

Loan application for personal needs

If you need personal financing like paying for your child’s education, or a wedding or holiday expenses, you can always avail a personal loan for doctors. Leading NBFCs like Bajaj Finserv offers this facility with loan amounts of up to Rs. 30 Lakh. Moreover, you can avail it through a quick online application process in just 24 hours.

Furthermore, the entire reimbursement process is kept simple with –

  • Easy-to-meet doctor loan eligibility criteria
  • Minimal documentation
  • Part pre-payment facility to ease the repayment
  • Flexible repayment tenors

Benefit from a speedy business loan processing

Business loans for doctor can easily help you fund an expansion of your medical practice with its substantial loan amounts. These loans are mostly collateral-free and help you to keep your business afloat. For instance, you need funds to refurbish your clinic or add hospital needs to improve diagnostics and patient satisfaction. A doctor loan could help you achieve those desired results.

Loan against property

By pledging your property as collateral, you can procure loans up to Rs 2 Crore. These are especially required if you need a substantial amount of funds to like –

  1. Set-up a new clinic.
  2. Open a new wing of your existing practice.
  3. Evolving from a single to a multi-speciality clinic.

But, before availing such loans, always weigh your options between prospective lenders. Make sure you opt for lenders who offer the most attractive doctor loan interest rates. Using this credit, along with a long flexible repayment tenor, you can boost your medical practice hassle-free.

Looking for a home loan?

If you’re waiting for a window of opportunity to buy a dream home for your family, here’s your chance. Home loans for doctors are customised as per your requirements as a medical practitioner to provide you with the most suitable long-term financing option to purchase a new property.

Borrow economically through Flexi Loan facility

Bajaj Finserv provides the Flexi Loan facility with their Loan for Doctors. With this facility, you can withdraw a part of the total sanctioned amount and pay interests on only that borrowed amount. You can also choose to pay only your interest part as EMIs and repay the principal amount later. A Flexi loan for doctors can be a winner and help you reduce your EMIs. Benefit from the best doctor loan interest rates, features and convenient repayment options. Overcome your financial requirements to meet short-term or long-term, goals, personal or professional.

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