How Can a Doctor Apply for a Medical Equipment Loan in India

How Can a Doctor Apply for a Medical Equipment Loan in India

If you are a doctor planning to set up your clinic, you might be already worried about the cost of medical equipment. Setting up a medical clinic or hospital requires a range of expensive medical equipment that cannot be afforded single handed by one person. The basic medical equipment like a blood pressure checking machine, weighing machine etc come for an amount of Rs.1000 to 2000. Other bigger equipment is more costly.

Given the rapid development of technology, you will be required to replace the equipment frequently in order to keep your clinic upgraded. It is going to be strain on your finances but you need to provide best facilities to your patients. All this can be a cakewalk with medical equipment loan. And that’s what Bajaj Finserv brings to you. This is a medical equipment loan only for you without much hassle and the need to go anywhere.

Process for application

The application process is very simple and you can do it all by just sitting at your home with an Internet connection. To apply for a Doctor loan, you have to complete the following steps:

Step 1

First researches on the varieties of Doctor Loans available in the market then look for Doctor Loan Interest Rate, repayment tenure and terms and conditions. List down the loan programme schemes that suit you the best.

Step 2

After a detailed research, the next step you should take is by verifying the gathered information. Check out the Internet for reviews. Clear your doubts and learn about the specifics by calling up the company representatives. The interest rates sometimes vary from lender to lender. So it's better to acquire all the information beforehand.

Step 3

Calculate when you have all the required information. These are small loans for doctors so treat them the same. With the help of a loan calculator estimate the EMI (Equated Monthly Instalment) for different tenures. Once you are done calculating, you'll be able to choose your suitable professional loan for doctors.

Step 4

To apply for a doctor loan, besides holding a medical degree you will require some years of work experience. At Bajaj Finserv, the eligibility criteria for a loan for doctors is easy to meet.

Step 5

If you are eligible for the doctor loan then you can apply simply by filling up an application form. Lender usually ask for these documents during the application process. These include the following:
  • Proof of Income in the form of salary slips, Form 16, Bank Statement)
  • Address proof such as Aadhaar card, passport or utility bill)
  • Passport, voter ID card or driving licence as identity proof
  • Educational Qualification proof (Graduate or post graduate degree in medicine)
What are the benefits of Doctor Loans?

Taking a medical equipment loan from Bajaj Finserv will save you from burning a whole in your pocket. But there are other benefits also that come with the loan. They are:
  1. Instant processing- Keeping the time constraints in mind for the doctors, the approval process only takes a day. Followed by which, the disbursal takes just two days.
  2. Larger Amount- The motive is to cover big expenses that cannot be shelled out otherwise for buying medical equipment. Bajaj Finserv offers loans from a sum of Rs. 3 lakh to 30 lakh.
  3. Online access- Everything from application to approval takes place online. The transactions and repayment dates can be checked online by logging into your account.
  4. Simple terms and conditions- The doctor loan doesn't ask for collateral or details of guarantor.
  5. Tenure of your choice- You can select the tenure that suits you best from 12 to 60 months time.
  6. Absolute flexible loan- As per suited, you can get a line of credit. You only have to pay interest for the amount withdrawn with zero repayment penalties.
So what are you waiting for? Without any further delay get yourself working on the application procedure. Once you are eligible, your clinic is just a few days away from getting highly equipped with modern day technology. With Doctor Loan from Bajaj Finserv, your dreams are one step ahead on the way to reality.
How Can a Doctor Apply for a Medical Equipment Loan in India How Can a Doctor Apply for a Medical Equipment Loan in India Reviewed by Ravish kumar on April 11, 2018 Rating: 5

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