Doctor Loans

  • Bajaj Finserv does not hesitate in lending to doctors if need be because there is a general perception that a doctor’s practice is a sort of recession-proof business and evergreen and there will never be a shortage of patients (aka customers).
  • With Bajaj Finserv, you can avail of an unsecured Loan for Doctors ranging from Rs.3 Lakh to Rs. 30 Lakh.
  • The minimum tenor available for this loan is 12 months and it can go up to 60 months.LOC stands for Line of Credit, is a facility where you are given a “credit line” and during the term of the facility, you pay interest component only on the amount utilized. The monthly instalment for Line of Credit will consist only of the interest amount and will not have a principal component on a monthly basis.
  • Bajaj Finserv does not hesitate in lending to doctors if need be because there is a general perception that a doctor’s practice is a sort of recession-proof business and evergreen and there will never be a shortage of patients (aka customers).
  • With Bajaj Finserv, you can avail of an unsecured Loan for Doctors ranging from Rs.3 Lakh to Rs. 30 Lakh.

The Benefits

Doctor loans can help all types of doctors, including cardiologists, gynaecologists, dermatologists, oncologists, surgeons, and dentists, secure working capital and keep their practices running smoothly just if they fulfil the Eligibility Criteria for Doctor Loan. Doctor loans are designed specially to meet the needs of medical practitioners. Medical infrastructure can be quite expensive & usually requires a large amount of money. What makes a doctor loan in India special is the convenience of borrowing a large sum without the need for any collateral or guarantors.

The benefits of doctor loan include:

  • Higher amount of loan amount in comparison to others.
  • No additional costs like foreclosure and repayment fees to be given.
  • Fixed and Floating Interest Rates– Both options can be availed.
  • There is another option of part payment in which doctors can repay the loan in parts.
  • The process of loan sanction is much lesser than the ordinary personal loans.
  • Finally the repayment tenure is more relaxing for the doctors than any other creditor.

Useful Applications

  • Converting patients’ records from actual paper to digital files creates great efficiencies for healthcare providers and their patients.
  • However, digitizing medical records is a significant long-term investment for any medical office.
  • Every Doctor’s medical office requires equipment purchases of everyday items, such as tissues, bandages, etc. as well as big ticket expenses.
  • Any physician who has purchased or renovated a building or entered into a lease agreement knows that setting up a location is costly.
  • Next is the purchase of computers, software and equipment, the investment of setting up phone systems and electronic medical record systems, staffing costs and marketing expenses.

To get benefits of Doctor Loan, doctors need to have adequate qualifications in any discipline like MBBS, BAMS, BDS, BHMS, GAMS etc. However, since these loans have no collaterals except credit history, lenders will only lend if the doctor has a good credit record.

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