Dr. Rahatani, a medical practitioner from over 10 years, owns a hospital at Raigarh, MP. His parents who are also doctors practice at the hospital. Dr. Rahatani was working hard to serve his patients in the best possible way, but few complaints from his patients nagged him.
Many patients were complaining regarding the outdated equipment that he had at his hospital. He came up with the idea to sell that equipment and buy the advanced version of them. But, his problems did not stop there.
The high prices of equipment made him realize that he is not having enough money to buy the latest technology for his hospital.
His father analyzed the whole situation and suggested him to take a doctor loan. He explained him all about a doctor loan to his son and asked him to make it as early as possible.
He briefed his son that a doctor loan is one the personal loan that is made especially for the doctors’ need and requirements.
It is a professional loan that is tailor-made for doctors of India. Any doctor who meets the eligibility criteria can take this loan to set up a new clinic or to expand his already running one.
Dr. Rahatani father explained the following features and the benefits of a doctor loan.
Features and Benefits of a doctor loan
- A high amount of loan
You can get a loan amount of up to Rs.2 crore if you opt for a secured loan, but if you opt for an unsecured loan, you will get a loan amount of Rs.35 lakh. It is your choice whether you want to go for a secured one or an unsecured one.
- Disbursement duration
The loan amount is disbursed to your account within a day, once all your documents are collected.
For secured loans, you can repay the loan up till 240 months, whereas in case of unsecured loans the tenor ranges from 12-96 months. A wide tenor makes you enjoy the benefit of smaller EMI amount.
- Flexi Loans
You can save more with Flexi loans as you can withdraw the complete loan amount in different proportions or at once. You only need to pay interest as an EMI on the amount utilized and pay principal at the end of loan tenor.
- Minimal Documentation
For taking a doctor loan, all you need to submit is your KYC documents and a medical degree, and you’re done with all the documentation process.
- Interest rate
A loan does not give you any financial burden as you have to repay in the form of EMI and the interest rates are also very affordable.
- No Hidden Charges
Without incurring any extra charges and any other charges, you can part-prepay the loan, if you have excess funds in case of a Flexi loan.
- Services at your doorstep
As doctors are always on the run, special executive services are also provided to collect all your documents from your place.
- Bank on-the-go
With online access to your loan account, you can track your loan activity anywhere and anytime with just a few clicks.
- Specially made for doctors
These loans are specially made to suit doctors’ needs. You may take medical equipment loan for purchasing latest or use to expand your hospital amenities.
- Pre-approved Offers
Based on just your degree and experience, the loan amount given to you is estimated. You get exclusive loan offers from time to time.
Dr. Rahatani was very much convinced after getting to know all the benefits that he can get out of a doctor loan. He then went to a leading financial company and checked all the eligibility criteria. He was very happy as he successfully qualified the eligibility test and will get the doctor loan on the go.
He made an immediate online application for the loan and within few hours his all the documents were collected from his place. He couldn’t believe that his doctor loan was disbursed to his account within a day.
Now his hospital is having all the amenities and equipment that his patients use to a complaint about.
The Bottom Line
If you are also in a cash crisis situation like Mr. Rahatani, do what he did. Take a doctor loan and update your hospital with advanced equipment.