Planning for a home makeover comes with multiple expenses. You will need to pay for materials, contractors like plumbers, electricians, carpenters, and painters, and even an architect, if you are going for structural renovations. Whether you are envisioning a modernised clinic space, a serene home office, or simply revitalising your living quarters, financing your home renovation with a doctor-specific personal loan offers flexibility and convenience. If you plan to update the look and feel of your home too, you may spend on new furniture and furnishings, modern lighting, décor accents, and even landscaping.
Here is how a personal loan for doctors can help you pay for all this, and more.
Higher loan amount at a competitive interest rate
When you apply for a personal loan for doctors, you can get as much as Rs. 80 lakh. It is more than sufficient to cover the cost of major home repairs. Our interest rates begin as low as 11%, and repayment tenures can stretch as long as 8 years.
This gives you ample time to repay the loan, and the burden of EMIs is made even lighter if you choose the Flexi facility. With this feature, you can choose to borrow only what you need, as and when you need it. Interest is levied on just the actively used amount, which in turn means lower EMIs. Moreover, you can opt to pay only interest as EMIs for the initial part of the tenure.
To top off these benefits, this loan is collateral-free. It means you do not have to mortgage any asset, or have a guarantor, to get the money you need for your home renovation bills.
Eligibility criteria and documentation
Any doctor can apply for a personal loan, as long as they are between 22 years and 80 years of age, as well as resident citizens of India. You also need to have a minimum CIBIL Score of 685.
As far as documentation goes, you need only two sets of documents: your medical registration certificate, and your KYC to prove your identity and address.
It comes with pre-approved offers
Doctors who are existing customers of Bajaj Finance may find that they already have a pre-approved personal loan offer waiting for them. All you need to do, to check your offer, is submit a few basic details here. Upon verifying your details, your offer will be displayed to you.
It is easy to apply for and get
If you do not have an existing offer, or are new to Bajaj Finance, you can still get a personal loan for doctors with very little hassle. Apply online for this loan by filling out a simple form. After this, you will need to select the loan variant you want to take, as well as your preferred repayment tenure. Finally, you will need to complete your KYC before submitting your application.
Once your application has been reviewed and approved, the funds will be disbursed to your account within 48 hours.*
