Managing your medical practice and meeting your personal goals requires an infusion of funds. Be it starting a new multi-speciality clinic, buying a home, sponsoring a vacation for your parents or sending your child overseas for education, you may need external finances. To achieve all your personal and professional targets, you can make use of a Loan for Doctors from Bajaj Finserv. It is the ideal solution for all your financial needs and is packed with features that make the borrowing experience pleasant and fruitful. With simple eligibility criteria and minimum documentation, you can get approval and disbursal of funds in just 24 hours!
This customized suite of doctor loans consists of 4 loans that you can make use of. Here’s a closer look at each variant.
Bajaj Finserv Personal Loan for Doctors
A Personal Loan is your ally when it comes to financing an expensive overseas holiday, a wedding, a home renovation and other personal needs. You can borrow up to Rs. 50 lakh and use the loan as you please. You can choose to repay this unsecured loan over a tenor that spans from 12–96 months on the basis of your financial situation. Besides, you can also benefit from features like minimal documentation, which only requires you to submit KYC documents, certificate of registration and financial documents.
Bajaj Finserv Business Loan for Doctors
You can now buy a new clinic, purchase clinic management softwares or meet working capital needs with ease with help from a Business Loan for Doctors. This is a collateral-free loan that allows you to take up to Rs. 50 lakh as a loan and pay nominal interest. It also offers you convenience in the form of flexible repayment tenor ranging from 12 to 96 months. Again, just like the personal loan, there is no restriction on how you can use this amount.
Bajaj Finserv Home Loan for Doctors
With the Home Loan from Bajaj Finserv, buying your dream home is that much easier. You can avail up to Rs. 50 lakh to purchase your own home, with a tenor that goes up to 18 years. With added benefits like property search services and property dossier, you can find the best home for your budget and get assistance with the legal and technical aspects of buying a home. You can also take a top-up loan when you opt for a Home Loan from Bajaj Finserv. This allows you to avail an extra amount that you can use to furnish your home or for any other purpose. The interest of this loan is low, and it enjoys the same long tenor of your home loan, which makes it even more affordable.
Additional Read: Ways for doctors to increase their CIBIL score
Bajaj Finserv Loan Against Property for Doctors
A Loan Against property for Doctors is great if you need a high loan amount, as it offers you up to Rs. 5 crore, with a tenor of up to 18 years. This loan is secured, and you have to submit property papers (commercial or residential) in exchange for funds. You can use this loan to buy commercial or residential property, for lease rent discounting or for other large outlays such as setting up a new clinic. The amount that you can claim will depend on the nature of your property and its prevailing value. But, if you use this loan to buy property, you can make use of value-added services such as property search services and property dossier services just like when you opt for a home loan.
Flexi Loan vs. Term loan
You can take any of the aforementioned loans as a Flexi Loan or a term loan. However, opting for the former has several benefits. Choosing the Flexi Loan facility allows you to borrow from the total loan amount in instalments, as and when you need funds. The balance amount is available to you for future use. Its USP is that you only have to pay interest on what you use and you have the choice to pay interest-only EMIs and repay the principal at the end of the tenor. You can withdraw, repay and redraw funds as many times as you want to, and you don’t have to file a fresh loan application each time you need funds. It is quick and easy. This flexible loan allows you to save a significant portion of your income by lowering your interest obligation.
So, whether it is achieving the next milestone on the personal or professional front, with this suite of loans from Bajaj Finserv, you can achieve your goals without worrying about insufficient finances.
Additional Read: 8 questions to ask while taking a doctor loan
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