India is still lagging in ensuring quality healthcare to every citizen. To bridge the gap of availability of timely medical treatment, doctors can set up a private clinic or chamber to accommodate more patients and initiate preliminary treatments. However, to provide quality treatment, doctors need access to adequate infrastructure, building that is an expensive affair.
A doctor loan can address this financial need. This credit instrument accompanies a host of benefits that intending borrowers need to know.
- Doctors from different fields are eligible for a loan for doctor. However, lenders also consider the credit profile of the applicants before approving this credit.
- With proper eligibility, individuals can opt for a substantial loan amount. They can also utilise the loan for dental clinic, eye clinic and other purposes.
- Selected financiers like Bajaj Finserv also set a simple application procedure to expedite loan processing. Additionally, the short documentation further speeds up this process further.
- Once eligibility check-up and documentation are over, the loan disbursal takes only a few hours.
- To avail of an unsecured doctor loan, you do not have to pledge any collateral.
- Regardless of loan type and size, borrowers must have a solid repayment schedule to clear the debt faster. They have the liberty to choose a tenor feasible for them.
- Lastly, the doctor loan rates are affordable, which ensures minimal borrowing cost.
These are the benefits of a doctor loan that eligible borrowers can leverage to fund the setting up or expansion of their medical practice.