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 Finance. 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 48 hours*.
This customised suite of doctor loans consists of 4 loans that you can make use of. Here is a closer look at each variant.
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. 80 lakh and use the loan as you please. You can choose to repay this unsecured loan over a tenure of 12– 96 months. Besides, you can also benefit from features like minimal documentation, which only requires you to submit KYC documents, certificate of registration and financial documents.
Business loan for doctors
You can now buy a new clinic, purchase clinic management software 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. 55 lakh as a loan and pay nominal interest. It also offers you convenience in the form of a flexible repayment tenure ranging 12- 96 months. Again, just like the personal loan, there is no restriction on how you can use this amount.
Home loan for doctors
With the Home Loan from Bajaj Finance, buying your dream home is that much easier. You can avail up to Rs. 15 crore* to purchase your own home, with a tenure that goes up to 40 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 Finance. 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 offers the same long tenure 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. It offers you up to Rs. 10.50 crore*, with a tenure of up to 15 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 unique selling point (USP) is that you only have to pay interest on what you use. You have the choice to pay interest-only EMIs and repay the principal at the end of the tenure. You can withdraw, repay, and redraw funds as many times as you want to, and you do not 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, if you want to achieve the next milestone on the personal or professional front. These suites of loans from Bajaj Finance can help you achieve your goals without worrying about insufficient funds.
Additional Read: 8 questions to ask while taking a doctor loan
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