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How a doctor loan can help you buy the best medical tools and equipment

  • Highlights

  • High loan amounts to buy specialised equipment

  • Bajaj Finserv’s Loan for Doctors offers up to Rs.35 lakh

  • Apply online and get access to funds in just 24 hours

As of 2017, the Indian medical devices industry is valued at $5.2 billion and accounts for the 4%¬–5% of the $96.7 billionIndian healthcare industry. This growth is an indicator of the high demand for quality medical equipment, which forms an integral part of your practice. The right equipment improves the accuracy of your patient care and also speedsup your diagnosis. From basic wheelchairs to MRI machines and dental X-ray machines, your equipment needs will vary according to your specialisation and set-up. Since the purchase of these essentials can be both expensive and urgent, a customised loan for medical professionals offers a convenient and fast funding option.
Here's how you can finance your equipment purchase with a customised Business Loan for Doctors.

1. Buy tools specific to your specialisation with a substantial loan amount

Every doctor needs access to certain tools like a digital thermometer, sphygmomanometers, and stethoscopes. But, based on your specialty, you will need specialised equipment too. This will mean EKG machines for a cardiologist, spirometry machines for an ENT, and incubatorsfor a paediatrician. Without this equipment, you won’t be ableto run a smooth practice.
You can fund these expensive purchases using a customised

Business Loan for Doctors fromBajaj Finserv. Here you can get up to Rs.35 lakh to make your purchase without offering collateral. You can also make use of a repayment long tenor and Flexi Loan facility when you choose this loan.

2. Get high-end diagnostic equipment with easy application and quick disbursal

If you are running a diagnostic centre alongside a clinic,you will want to equip your facility with advanced diagnostic equipment like several powerful microscopes and laboratory management software, for example. This will allow you to analyse specimens and will inform both the patient and the doctor when the report is ready and email it to them too.Investing in this advanced technology allows you to save time, ensure that each specimen is properly examined, reduces overhead costs and improves customer satisfaction. Besides this, you will also have to maintain a substantial inventory of items likesterile gloves, gowns,medicated sheets for exam tables, cotton wipes, gauze, sample containers, slides, test strips andsyringes.
In this regard, a doctor loan is extremely beneficial. Apply for it online and get access to funds within 24 hours. Since this is a custom-made loan for you, most lenders will give you access to the loan simply based on your educational qualification and work experience, as long as you can furbish documents that back this information.

How doctors can take their practice to the next level

Eligibility for a business loan for Doctors

3. Make expansion easy withthe Flexi Loan facility

Let’s assume that you have a clinic and a diagnostic centre for your patients. Observing increased demand for your services, you decide to open another centre in a different part of the city. To finance this decision, you will need to buy another set of equipment right from X-ray machines and ultrasound machines to chemistry analysers, assay kits and haematology analysers. However, you may decide to furbish your second clinic bit by bit. In this case, you can make use of the Flexi Loan facility.

This allows you to access funds from a total Flexi Loan amount as and when you need to make payments. Pay interest only on this amount and you can choose to repay it in the form of interest-only EMIs, where you repay the principal at the end of the tenor. This will give you access to funds when you need them, without escalating your costs.

So, whether you’re looking to improve the quality of your existing set up or want to expand operations to a second facility, using a loan for doctors proves to be the best way to cater to all your equipment needs.

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How to be eligible for a Doctor Loan