2 min read
25 May 2021

As a medical professional and business owner, you are responsible for attending to various aspects of your practice while juggling your personal life. Some of these needs may require immediate and simultaneous attention. For example, you may have to buy new diagnostic equipment while paying for the clinic's lease renewal. Instead of staggering your needs or prioritising one over another, you can easily fund all of them using funds from a tailor-made loan such as Bajaj Finserv Doctor Loan. This loan comes with a Flexi loan facility, which allows you to withdraw funds as per your requirement. Alongside withdrawing funds flexibly, you get access to a host of other benefits. You can make use of a Flexi loan when you opt for a personal loan, business loan, home loan or loan against property from Bajaj Finserv.

Take a closer look at the benefits that make Bajaj Finserv's Flexi Loan for doctors a winner.

The choice to withdraw funds as per your needs

If you are planning your child's wedding, you will need funds to make all the bookings. Vendors like caterers, beauticians, designers and photographers will ask you to make at least a portion of the payment upfront. With Bajaj Finserv Flexi Doctor Loan, you can get up to Rs. 80 lakh to pay for all these expenses as and when the need arises. So, if you have a total amount of Rs. 30 lakh, you can withdraw Rs. 5 lakh first to cover venue costs. Then, you may withdraw another Rs. 2 lakh to pay advances to other vendors one month later. Also, there is no restriction on the number of times you can withdraw funds.

Option to pay interest only on what you use

Let's say that while renovating your clinic, you feel that it makes sense to convert your clinic's garage as a supplies room. This way, you will be able to accommodate more doctors within the premises. So, you can pledge a property and borrow up to Rs. 10.50 crore* with the loan against property for doctors. With the Flexi loan facility, you can only pay interest on what you use and not the total amount. So, if you use Rs. 5 lakh first to repaint your clinic, you will pay interest only on this amount. If you then withdraw another Rs. 5 lakh to remodel the garage, you will pay interest on Rs. 10 lakh. The balance amount will be interest-free. By paying interest only on what you use, you can save a significant amount of money.

Access to online services

This suite of loans allows you to finance every need in a time-efficient manner. You can apply for the loan easily through an online form and get the funds within 48 hours* of loan approval. Also, you can track your loan online and view interest statements and outstanding balances at your convenience. Besides, every time you need funds, you need not apply for a new loan. You can make a request online.

Flexible repayment options for better financial planning

Choose to repay your personal or business loan within a tenor ranging from 12–96 months. If you take a home loan or a loan against a property, this tenor is longer and extends up to 216 months. Further, when you take a Flexi loan, you can break up your payments into interest-only EMIs and repay the principal at the end of the tenor. You can also make part prepayments towards the principal without paying any extra charge. All this helps you to manage your cash flow more efficiently and make repayment more convenient for yourself.

So, with Bajaj Finserv Flexi Loan for Doctors, you can make the most of a high loan amount and flexible withdrawal and repayment terms to take care of personal and professional expenses.

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