Between managing your medical practice, providing for your family and fulfilling personal goals, there’s a lot that you have to take care of. Your savings may not always be enough to meet your needs, so there are several reliable forms of financing that you can turn to. One such option is Bajaj Finserv’s Loan for Doctors. Created specially for professionals like you, this is a quartet of four loans that can be used for personal and professional purposes. The composite loan comprises the following:
1. Personal Loan for Doctors:
Whether it is buying a car for your son, a home theatre system for yourself, or to fund a wedding in the family—there are several ways in which a personal loan for doctors comes handy. With this loan, you can get access to up to Rs.30 lakh for a period of 12–60 months.
2. Business Loan for Doctors:
A business loan for doctors is very similar to a personal loan for doctors. The difference is that this loan can be used for furthering your practice. A business loan for doctors is ideal or purposes such as hiring staff, maintaining stock of medication and equipment or creating a waiting room. It gives you funds up to Rs.30 lakh for a period of 12–60 months.
3. Home Loan for Doctors:
Owning a house is incredibly expensive, and if you’re financially prudent, you may not want to park your entire savings in buying a home. However, you can still fulflill this wish by getting a home loan for doctors. It gives you access to Rs.2 crore with a flexible tenor of 240 months. This way, you can easily finance the second home you’ve been wanting.
4. Loan Against Property for Doctors:
The last loan in this suite is the loan against property for doctors. It allows you to pledge property you already own to get access to funds. These funds can be used by you for personal or professisonal purposes. This loan gives you financial aid of up to Rs.2 crore with a flexible tenor of up to 180 months. Loans against property for doctors can be availed in the following cases:
- A loan against comercial property
- A loan against residential property
- Loan for purchase of commercial property
- Line of Credit loan
Apart from these loans, there is a fifth option that is offered only to doctors. It is known as Bajaj Finserv Indemnity Insurance for Doctors. If you or your practice gets sued, you should be able to defend it, and an indemnity insurance for doctors helps you do just that. It covers you from Rs.5 lakh to Rs.2 crore. At an attractive premium, this insurance will cover defence costs as well as breach of confidentiality, libel and slander, and employee fraud and dishonesty.
To get a deeper understanding of Bajaj Finserv’s Loans for Doctors, take a look at the several advantages they offer:
1. High Amount Loans:
These loans give you access to a large sum of money. When it comes to personal loans and business loans, you can claim up to Rs.30 lakh. For home loans and loan against property, the upper limit is Rs.2 crore.
2. Instant Approval:
If you’re in an urgent need of money, Bajaj Finserv’s Loan for Doctors can come to your rescue. All four loans within this suite are granted approval within 24 hours.
3. Minimal Documentation:
Unlike regular term loans, these loans require minimal documents. Moreover, these documents are easy to furbish, and are probably already within easy access.
4. Easy Online Application And Fund Management:
Bajaj Finserv makes it extremely easy for doctors like you to apply for loans. Not only can you apply online, but you can also manage your loan and track all your payments on-the-go through a secure customer portal.
5. Pre-approved Offers:
If you are an existing customer with the lender, you get access to pre-approved loans. This means that you don’t have to go through the entire application process a second time.
6. Flexible Line Of Credit (LOC):
This is a feature unique of Bajaj Finserv’s Loan for Doctors. It allows you to withdraw money in installments, as and when you need it. Interest is calculated only on the amount used by you, and not on the entire line of credit. Moreover, interest is the only payable component in your EMI. The principal sum is payable at the end of the tenor.
7. No Part Prepayment Charges:
Another outstanding feature of Bajaj Finserv’s Loan for Doctors is the option to make part prepayments towards the principal amount without any extra charge. This means that if you have a surplus of funds, you can use it to pay off a chunk of your principal amount. This reduces your financial burden in two ways. Not only does it reduce your overall outstanding payment, but it also makes your future EMIs cheaper (as they will be calculated on a lower principal amount).
Now that you know the several ways in which a loan for doctors will benefit you, apply for one through Bajaj Finserv. Their Loan for Doctors gets approved within 48-72 hours, and is an ideal way to finance any need of doctors.