Why should medical professionals consider taking a loan for doctors?
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Why should medical professionals consider taking a loan for doctors?

  • Highlights

  • A regular loan may not be a perfect fit for a doctor’s unique needs

  • Choose Home Loans & Loans Against Property for Doctors for high-ticket purchases

  • Personal Loans and Business Loans for Doctors for all personal and practice-related needs



Although doctors can take a regular loan to finance their needs, it wouldn’t offer features and benefits to medical professionals like you.
1.You may end up paying a higher rate of interest
Due to the nature of profession and qualifications, lenders give medical practitioners a better rate of interest than others.
2.You may end up in a long loan application process
Your credentials and some basic documents often suffice for you take a loan.
3.You may not get a financial offering as per your need
A regular loan may not be pa perfect-fit for your unique needs
A loan for doctors is a customised offering available to self-employed doctors. It requires lesser processing time, has higher approval rates, flexible tenors and lower interest rates. In fact, there is a suitable doctor loan for every practitioner.

I. Personal Loan for Doctors:

1.Have a destiation wedding: Get married at an exotic location.
2.Go for a getaway: Visit scenic locations to take some time off from work.
3.Pursue higher education: Undertake a super-speciality course/program. It’s never too late to learn something.
4.Sponsor your child’s education: Fulfil your child’s dreams by giving him the best education.
5.Renovate your home tastefully: Redo your home to give it an all-new look.

Buy a swanky car: Get yourself your dream car and travel in style.
5.Be ready for exigencies: Don’t let finances be a roadblock in times of emergency.
6.Sponsor your research: Pay for the cost of publishing your research paper.

II. Business Loan for Doctors:

1.Buy or lease office space/premises: Add a new clinic and expand your patient reach.
2.Hire specialised staff and personnel: Invest in the right human resources to mete out better treatment.
3.Renovate your established clinic: Refurbish your existing premises to give patients a better experience.
4.Buy/ upgrade equipment: Superior treatment requires up-to-date equipment and materials.
5.Maintain your clinic’s working capital: Manage your medical inventory, pay your suppliers/creditors and manage overhead costs.
6.Go digital: Maintain EHRs, adopt telemedicine, comply to GST norms by maintaining MIS & billing software.
7.Meet unplanned cash needs: Don’t let finances come in the way of running your practice.

Personal Loans & Business Loans offer the following benefits:

1. High loan amount: They come with a loan amount of upto Rs.30 lakh.
2. Money in bank in 24 hours: Doctors can get the loan within 24 hours of their document collection.
3. Collateral-free: Falling into the unsecured category, they do not require a guarantor or for you to pledge your assets. As a result, you can achieve more without increasing expenditure.
4. Wide Tenor: Doctors can choose a tenor ranging from 12-96 months and repay their loan as per their income
5. Easy eligibility and minimal documentation: It is easy to qualify for a loan for doctors based on your experience and specialisation. All you need is submit your KYC documents and your medical degree to our representative who will collect these right from your doorstep. Yes, it’s that simple!

III. Loan Against Property for Doctors

You can use a Loan Against Property for mortgage buyout, consolidation of debt, personal or business needs or to fund any high-purchase ticket items. You can avail this for-
1.Loan Against commercial property
2.Loan Against residential property
3.Loan for purchase of commercial property
4.Flexi loan

Doctor Loans - Everything You Wanted To Know

IV. Home Loans for Doctors

Buy your dream home by taking a Home Loan that offers property search services, property dossier, customized insurance schemes, etc. You can take a Home Loan Balance Transfer to get a better interest rate on your existing home loan and reduce your monthly EMIs.
Home Loans & Loan against Property offer the following benefits:
1. High loan amount: They come with a loan amount of upto Rs.2 crore.
2. Quick funds: Doctors can get a loan approval within 24 hours of their application.
3. Wide Tenor: Doctors can choose a tenor ranging from 12-240 months and repay their loan as per their income
4. Easy eligibility and minimal documentation:

Based on your specialisation and experience you can easily qualify for a loan for doctors. All you need is submit your KYC documents, your medical degree, bank statements, financial statement of the last 2 years and property papers to be mortgaged to our representative who will collect these right from your doorstep.
A Doctor Loan from Bajaj Finserv offers all these loans with an array for features which would be beneficial for doctors

Furthermore, loans:

1.Reduce tax liability: Paying interest on loans is a business expense, thereby saving you taxes.
2.Let you retain full control over your practice: Equity financing can dilute your stake and ownership over practice. Loans are often offered at a lower rate of interest than equity. They allow you to be your own boss and take decisions as per your experience.
With easily available finance options from various lenders, you don’t have to delay growing your own practice. Whether you want to start a new clinic or add a specialisation, you can use the funds to make your medical business bigger and better, without worrying about the impact of GST. So, get the financial support you need and take your practice to new heights.

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