Features and benefits of business loan for doctors
Benefit from loan approval in just 48 hours* with quick online loan processing.
Borrow and prepay funds against your loan limit, for free. Opt to pay interest-only EMIs for the initial tenor.
Select a repayment schedule that suits your budget with flexible tenors ranging up to 96 months.
Funds in 48 hours*
Have the business loan disbursed to your bank account within 48 hours* of your application being approved.
Obtain funding for your business without having to pledge a personal or business asset as security.
Make part-prepayments against little to no extra charges and reduce your net interest payment.
Avail of exclusive pre-approved offers to obtain instant business loan financing tailored to your profile.
Business Loan for Doctors
Hassle-free and fast, the Bajaj Finserv Business Loan for Doctors is designed to help your practice thrive. Customised to offer swift financing to expand your practice, you can use the business loan for everything from purchasing the latest medical equipment and software to training your staff on new procedures. Apply online for a business loan for doctors and get up to Rs. 55 lakh* through a speedy 48 hours loan disbursal process.
For flexibility in borrowing, you can opt for the Flexi loan facility. Here, you get a pre-approved loan limit, from which you can withdraw funds and prepay them unlimited times at no extra cost. You are charged interest on the amount you withdraw only. Further, you can choose to pay interest-only EMIs for the initial tenor to reduce your monthly outgo by up to 45%*.
*Terms and conditions apply
*(Inclusive of Insurance Premium, VAS Charges, Documentation Charges, Flexi fees and Processing Fees)
Types of Medical Practice Finance
Bajaj Finserv offers two kinds of medical practise finance. Here are the details about the two:
1. Three unique variants
Bajaj Finserv offers three new and unique variants of doctor loans - Term Loan, Flexi Term Loan, and Flexi Hybrid Loan. Each variant comes with specific features and benefits, allowing doctors to choose the one that best suits their financial needs.
2. No part-prepayment charges on Flexi variants:
With the Flexi variants of the doctor loan, medical professionals can borrow funds as needed and make part-prepayments whenever they have surplus funds without incurring any additional charges.
3. Loan amount of up to Rs. 55 lakh:
Medical practitioners can access loans ranging from Rs. 2,00,000 to a substantial amount of Rs. 55 lakh. This allows doctors to manage both small and large expenses related to their medical practice efficiently.
4. Convenient tenures of up to 8 years:
Bajaj Finserv provides doctors with the flexibility to repay the loan over a period ranging from 12 months to 96 MONTHS, making the repayment process more convenient and manageable.
Read more about Bajaj Finserv Doctor Loan.
Medical equipment 3:
1. Loan amount of up to Rs. 6 CRORE:
Medical professionals can secure funds from Rs. 2 lakh to as high as Rs. 6 CRORE through an end-to-end online application process.
2. Flexible tenures of up to 84 MONTHS:
Bajaj Finserv offers extended repayment tenures of up to 84 MONTHS for medical equipment finance. This allows healthcare providers to comfortably repay the loan over an extended period.
3. Minimal documentation:
Applying for medical equipment finance with Bajaj Finserv is hassle-free, as it requires only a few basic documents, streamlining the loan application process.
4. Approval in 24 hours:
In most cases, the approval for medical equipment finance is provided within 24 hours, ensuring that medical practitioners can quickly acquire the necessary equipment for their practice.
Read more about Medical Equipment Finance.
Benefits of Small Business loan for Medical Startup
Benefits of Small business Loan for medical startup:
- Capital injection: A small business loan provides essential funding to cover initial setup costs, equipment purchases, and operational expenses.
- Flexibility: With varying loan options, medical startups can choose the best-suited financing solution that aligns with their specific needs.
- Business growth: The infusion of funds enables the startup to expand services, hire skilled staff, and attract more patients.
- Improved Cash flow: A well-managed loan helps maintain a steady cash flow, ensuring smooth day-to-day operations.
- Modern equipment: Access to the latest medical equipment boosts efficiency and enhances the quality of care provided.
- Building credit: Timely repayment builds a positive credit history, improving future borrowing prospects.
- Competitive advantage: Sufficient funds allow startups to stay competitive in the rapidly evolving healthcare industry.
- Emergency reserves: The loan can act as a safety net for unexpected financial challenges or emergencies.
- Long-term sustainability: Proper utilisation of funds sets the foundation for a thriving and sustainable medical practice.
Bajaj Finserv understands the challenges of establishing a successful medical profession. Not only does it require extensive education and residency training but setting up a medical practice can also be costly. That's where we steps in, offering customer-centric business practice loans specifically designed to support medical professionals on their journey to success. With competitive interest rates, minimal processing charges, a simple application process, and dedicated customer support, Bajaj Finserv stands out as the ideal choice for medical practice financing, helping you achieve your dream career in the healthcare industry.
Eligibility criteria for a business loan for doctors
Get a business loan for doctors from Bajaj Finserv against these simple eligibility criteria:
- Super Specialist doctors (MD/ DM/ MS) - have no minimum experience required.
- Graduate doctors (MBBS) - have no minimum experience required.
- Dentists (BDS/ MDS) - 3 years
- Ayurvedic and Homeopathic doctors (BHMS/ BAMS) - Minimum 2 years of post-qualification experience
Along with this, you should also be a resident citizen of India.
Documents required for a business loan for medical practice
To prove your eligibility for a Bajaj Finserv Business loan for doctors, you need to submit a few basic documents only:
- KYC of authorised signatories
- Medical registration certification
How to apply for a business loan for doctors
Follow these simple steps to avail of a business loan for doctors.
- 1 Click on ‘Apply Online’ to access the application form
- 2 Enter your mobile number and the OTP sent to you
- 3 Enter your personal and professional information
- 4 Submit your application
Our representative will call and guide you on the next steps.
Frequently asked questions
Medical practitioners, including doctors, dentists, and other healthcare professionals, can avail medical practice loans to finance their clinics or practices.
No, Bajaj Finserv offers doctor loans with competitive interest rates, ensuring affordability and ease of repayment for medical startups.
No, Bajaj Finserv's doctor loan is an unsecured loan, which means there is no need to provide collateral or security.
To apply for a doctor loan, a CIBIL score of 685 and above is generally preferred, indicating good creditworthiness and a higher chance of loan approval.