Bajaj Finserv provides a specific loan that is aimed at helping consultants and practicing doctors working in clinics or hospitals to expand their operations to include better services and treatment. This loan features low interest rates and fast approval times.
This unsecured loan is provided exclusively to people with valid medical registration numbers and thus requires no guarantors or collaterals. The loan thus availed can be used to purchase assets to aid in the development of medical facilities or in improving the level of service provided in terms of treatment and healthcare.
An unsecured loan meant for medical professionals, this specialised loan has a few eligibility criteria to be met in order for the institution to be able to sanction the loan. The eligibility requirements can be mentioned as follows –
The financing modes allowed under the Doctor Loan can either be of a working capital type or demand loan type (Flexi Loans). The former allows a longer repayment period with standard rates and the latter has differential rates as per the amount and tenure chosen.
Based on the credit-worthiness of the applicant, Bajaj Finserve can provide loans within a range of INR 5 lakhs to INR 45 lakhs. Flexi loans might have differing limits based on the discretion of the NBFC.
Interest rates for a Doctor Loan could range from 11% per annum to higher figures based on Bajaj Fin serve’s discretion.
The standard list of required documents for applying for this loan are mentioned as follows –
The Doctor Loan from Bajaj Finserve is an unsecured loan that requires no guarantors or collaterals and is a really good financing option for medical practitioners to start a new venture or improve upon existing facilities.
The loan period can range from 12 months to 60 months. The processing fees will be 2% of the loan amount and along with that, a security fee of INR 1,999 will be levied. There is an option to make pre-payments 6 times in a year in order to close the loan sooner. The loan can also be closed before the set tenure by making a lump sum payment, provided that the first EMI has been paid, and there would be no additional charges levied.
The loan can be applied for through Bajaj Fin serve’s website, as well as forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Bajaj Finserve requesting an executive assistance for application process.
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