Most people wonder as to why to apply for a doctor loan. You should apply for a doctor loan if you need to maintain or improve the quality of services provided in your hospital/clinic. Often times, funds are required on short notices by doctors and medical experts. This is not always possible through generating revenues from patient’s fees and more often than not, considering the altruistic nature of the work of the doctor, it is only fitting that some external source provides facilities to the protector of life. In India, with a majority of the patients below the poverty line, it becomes important for banks to step up to the aid of the doctor. Fortunately, leading banks and financial institutions such as Bajaj Finserv indeed provide doctors with the required loans in lump sums and at appreciable interest rates.

Doctor Loan Interest Rates

The interest rates offered on a doctor loan in India (also known as a physician loan) are quite low with a flexible tenure of 12 months to 60 months. Also, most banks and lending institutions offer zero foreclosure charges, allowing you to repay the loan in one go if possible. This in particular is an added advantage when compared to other loan types, because it is more likely that a well established doctor would prefer to repay the loan sooner.

Benefits of Doctor Loans

Whether you are looking to expand your infrastructure or scale of operations to provide better service and treatment facilities, Doctor Loans in India by Bajaj Finserv is a great example to consider. Bajaj Finserv ties together multiple benefits along with quick approvals and a low rate of interest. Their Doctor Loans are offered to practicing doctors with a self-owned clinic, working in a government or private clinic, hospital and consultants. Bajaj Finserv Doctor loans can be easily availed online. Here, we observe the following added advantages and benefits:

  1. The sum that can be loaned has a high limit thereby allowing you to take the money you need for a new hospital or setting up new equipment in an existing hospital.
  2. This loan allows you to buy the latest technology related to the medical field instantly.
  3. Lower interest rates and adjustable loan terms will allow you to repay the loan at your convenience without excessive financial pressure or hindrance to your work.
  4. The added advantage here is that one can apply online for a doctors loan. Applying for a Doctor Loan with Bajaj Finserv would also give you the option to pay back your loan with flexible payment options.

How to Apply for a Doctor Loan

A professional loan for doctors is given taking into consideration all factors such as professional qualifications, annual income, experience, annual profit and age of the applicant. Once you qualify for these parameters, you can apply for a doctor loan in India either online, by phone calls, by SMS or by visiting the branch.

It is quite clear as to why doctors and medical practitioners must avail a doctors loan in India. Some lenders even fund the purchases of ambulances or provide working capital to buy bulk stock of medicines as well. The funds required to help bring good, clean and technology driven hospitals are available at the click of a button, and it is imperative for you to consider this option in order to provide services in the best interest of your patients.

 

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