Becoming a doctor is one of the most prestigious achievements in India. No wonder that lakhs and lakhs of students enroll for medical studies every year. India, as of 2019, had 11.57 lakh allopathic doctors and 7.88 lakh Ayurveda, Unani, and Homeopathy doctors registered with the state medical councils and the Medical Council of India. But being a doctor comes with its own set of challenges.
The main challenge for doctors is often finding the funding to open their own practice or to sustain and grow their existing one. To this end, financial institutions offer special loans for doctors, which have become quite popular in the past few years. These are commonly known as doctor loans.
What is a doctor loan?
A professional loan for doctors, also known as a doctor loan, can help doctors start or expand their own practice. These loans are tailored to the needs and requirements a doctor would face while nurturing their own practice. Which is why loans for doctors in India are essential.
Benefits of a doctor loan
Professional loan for doctors
A doctor is likely to face a range of financial requirements for a number of reasons. A doctor can utilize a professional loan for a variety of purposes. These could include:
If you are a self-employed doctor, a great option that you must check out is Bajaj Finserv Professional Loan for Doctors, available on Finserv MARKETS.
Eligibility for professional loan for doctors
The eligibility criteria for a professional doctor loan as per Finserv MARKETS is very inclusive. To check where you meet the requisite eligibility criteria, you can run a quick check with the help of the eligibility calculator on the Finserv MARKETS website as well. Below is the eligibility criteria to obtain a doctor loan on Finserv MARKETS:
Documents needed to apply for a doctor loan
As mentioned before, the documentation required for loans for doctors in India is minimal. It usually includes the following, subject to additions/subtractions as per the loan provider.
Now that you know how exactly loans for doctors work, it is time to go loan shopping. We recommend that you begin with the Bajaj Finserv Professional Loan for Doctors, available on Finserv MARKETS. The Bajaj Finserv Professional Loan for Doctors offers borrowers loan amonts of up to Rs.30 lakhs that they can avail for major business expenditures, as they see fit.
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