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Personal Loan For Doctors: 4 Reasons You Should Go For It

By Finserv MARKETS - Mar 28,2020
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Personal Loan For Doctors: 4 Reasons You Should Go For It

Medical students spend more time finishing their education than most other professionals do. Even after they are done with their education, they have very different needs unique to their profession. That is why, loan providers provide special ‘doctor loans’ catering to the 11.57 lakh doctors in India.

What is a doctor loan?

As a doctor, you could have various expenses ranging from personal to professional. It could be anything from educational courses to upgrade your skills, new surgical equipment for your facility, hiring new staff, etc. A personal loan for doctors could also help you for your personal life expenses like weddings, home renovation, etc. The advantage that a special doctor loan such as Bajaj Finserv doctor loan provides is that you can acquire a large sum of money without a lot of documentation within a short period of time.

Doctors loan from Bajaj Finserv

Bajaj Finserv Personal Loan for doctors, available on Finserv MARKETS, offers upto Rs.20 lakhs through a simple and seamless online process. It is a zero-collateral loan, so you don’t have to worry about a guarantor. One of the biggest benefits of a Bajaj Finserv doctor loan is its flexible repayment tenure, which ranges from 12 months to 60 months. You can compare your profile with the easy personal loan eligibility criteria right away on the Finserv MARKETS website, and even calculate your EMI using the EMI calculator.

4 reasons why should you go for a personal loan for doctors

Fulfilling personal needs

As a doctor, you too have the same needs in personal life as people from other professions do. This could include a wedding, a much-needed vacation, home renovation, medical costs for a family member, etc. Since a doctor’s education takes a longer time, you start earning late and these costs affect you in a different way. A tailor-made personal loan for doctors will help you secure funds for these crucial expenses without much effort in terms of formalities and documentation.

Debt consolidation

If you have your own practice, you are bound to have some debt. You may have already opted for loans to pay for your clinic, equipment, hiring and training staff. You could have one or more loans, credit card bills, and other kinds of debts to clear. The sheer number of pending payments does not just add to your stress but also becomes inconvenient to handle. Wouldn’t it be better if one easy loan could pay them all off at once, and you only have one repayment to focus on? With a special doctor loan like Bajaj Finserv doctor loan, you won’t be questioned much on the end use of the loan amount, and you can easily acquire and manage the loan online.

Educational costs

In the medical profession, there is never a stop to learning. There will always be different avenues to learn and upgrade your skills. Unlike other professions, a specialization is a must after your degree. An education might just prove to be a bigger hassle at such a time with all the formalities and procedures involved. A no-frills loan such as a doctor loan from Bajaj Finserv, for example, could be of great help with its flexible tenure and quick process.

Unforeseen expenses

There could be unexpected financial needs in anyone’s life, regardless of their profession. It could be a sudden need for repairs in your house, a sudden medical emergency in the family, a travel expense that wasn’t planned, etc. On such occasions, you can take advantage of a personal loan for doctors and quickly deal with the emergency without getting involved in lengthy procedures. Your profession requires your utmost focus and it becomes easier when personal situations are properly taken care of.

Advantages of a personal loan for doctors

A doctor loan has a variety of uses. But it comes with an even larger amount of benefits. Here are just a handful of them:

  • The rate of interest is relatively low, helping you to focus on getting your plan into action rather than repaying your loan.
  • A personal loan for doctors is an unsecured loan i.e. you aren’t required to pledge any collateral.
  • A doctor loan requires only your credentials and a minimum amount of documents, making it easy for you to acquire anytime.
  • A doctor loan will be tailor-made and suited to the specific needs of your profession.

Apply for Doctor Loan

Conclusion

Being a doctor is a huge responsibility. It requires a special kind of dedication and focus. Financial worries should not get in the way of your work, and that is why a doctor loan from Bajaj Finserv would be at your rescue when the need arises.

Bajaj Finserv Personal Loan for doctors

A personal loan specifically designed for doctors, available on Finserv MARKETS, provides swiftness with approval within just 3 minutes and disbursal within 24 hours for addressing your urgent needs. All charges will be revealed upfront and there would be no hidden costs to worry about. What’s more, this zero-collateral loan also comes with value added services like a free Financial Health Check Report, which gives you a comprehensive picture of your financial health, is simplified, personalized and helps you make informed financial decisions.

Know What are the Costs Involved in Opening a New Clinic

Also read about what is personal loan for doctors?

Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522