Doctors have the noble profession as they save our lives, so they are the most respectable and responsible citizens. But, they also need money to serve the society in a better manner. So, financial institutions have come up with the concept of a doctor loan.
Suppose, a doctor who is willing to start his/her own clinic but unable to do due to lack of money, or a doctor who already has a clinic by want to expand it, shift to a bigger place, purchase some new inventories or appoint new members for assistance, they can also apply for a doctor loan.
So, what is a doctor loan? A doctor loan is a loan offered by financial institutions- banks and non-banking finance companies (NBFCs) to the medical professionals. A doctor can get a large loan amount as high as up to Rs.35 lakhs. The rate of interest of a doctor loan is also low and the tenor is also flexible to ease out their burden.
What are the other facilities that one can avail from a doctor loan?
The loan can be availed instantly, and the money will be transferred to the bank account within 24 hours to save time and effort.
Doctors can avail Flexi loan facility where they can withdraw any amount out of their loan credit and pay only the interest as EMI and the rest of the loan amount after the tenor ends.
The loan tenor can be flexible to suit your needs. The loan duration can vary from 12 months to 96 months to spread the loan burden and pay smaller EMIs.
To know about the other benefits of a doctor loan, visit:
Starting Your Own Clinic? Opt for a Doctor Loan
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.