As a responsible medical professional, taking care of your patient’s health and well-being is your responsibility. So, to carry out your duty in the best possible way, you need to have a highly functioning dispensary. Establishing this space can be expensive, so opting for financial aid can greatly help. You can meet all your funding requirements with a loan for doctors to open clinics. You can also consider using this loan to expand your clinic or pay rent. A doctor’s loan can also help you pay your staff’s salaries and continue operating your practice smoothly.

You can use the business loan for doctors from Piramal Finance to integrate cutting-edge technology into your practice. However, you can also use the reimbursed fund to purchase new medical equipment that will meet your patient’s requirements.

At Piramal Finance, we realize the importance of providing loans for doctors in India. We provide the best business loans for doctors to support medical professionals in their noble endeavors. You can easily avail of our tailor-made business loan specifically curated for doctors with a flexible repayment tenure and highly affordable interest rates.

What are the Features and Benefits of a Business Loan for Doctors?

Some of the most commendable features and benefits of a business loan for doctors online at Piramal Finance are:

Easy to Apply

You will have minimal paperwork when you avail of a business loan for doctors from Piramal Finance. So, you can easily apply for and avail yourself of a doctor’s loan if you qualify under the eligibility criteria.

Easy Repayment Options

Business loans for physicians usually come with easy repayment options that extend for a period of 12 to 48 months.

Flexi-Limit Options

A specific amount is given to the doctor as a loan. Meanwhile, another amount is transferred to a special account, and the doctor can seamlessly use the loan when required. Thus, the doctor will need to pay a predetermined interest on the used amount, not the whole.

Collateral-Free Loan

Since business loans for doctors are unsecured loans; you don’t need to pledge any asset as collateral.

Quick Disbursal

If you’ve met all the demanded eligibility criteria and your loan has been approved, then you can expect your loan to be disbursed within 72 hours.

Pre-Approved Loan

Piramal Finance offers pre-approved loans that are disbursed immediately after approval.

Accepts Part Payment:

Piramal Finance allows part payment of the business loan for doctors.

Value-Added Services:

Applying for a business loan for doctors at Piramal Finance will help you experience a number of value-added benefits. For instance, you can have easy access to your financial fitness report.

What are the Eligibility Criteria for a Business Loan for Doctors?

To become eligible for a doctor’s business loan, you need to fulfill some of the basic criteria as mentioned below:

You need to be a citizen of India
You should be a self-employed doctor
You should be at least 21 and not more than 60 years while applying for a doctor’s business loan

Apart from these basic criteria, you should also fulfill a few other requirements that are related to work experience. Here we have enlisted the experience requirements for doctors with different specialties:

As a Super-specialist doctor, you don’t require any minimum experience.
As a dentist, you need to have at least five years of work experience after graduating.
As an MBBS, you should have a minimum of 2 years of work experience after graduating.
Homeopathic Doctors should have at least 15 years of work experience and must have a clinic of their own.
Ayurvedic Doctors must have at least six years of work experience after graduating and should have a practicing space of their own.

What are the Documents Required for Doctor’s Business Loan?

If you wish to avail of a business loan for doctors, then you need to furnish the following documents:

Proof of identity like Voter ID Card, Aadhaar Card, Passport, PAN Card, etc.
Proof of residential address like passport, Aadhaar Card, driving license, voter’s ID card, rent agreement, utility bills, etc.
A certificate of Income Tax Return showing proof of income.
A valid qualification degree that authorizes to practice as a professional doctor in India.

Steps to Apply for a Business Loan for Doctors

Here is a step-by-step guide to applying for a business loan for doctors at Piramal Finance. You can easily follow these steps and complete your application procedure:

Step 1:

Go to the Piramal Finance business loan for Doctors page. Read the features and eligibility criteria, and start the application process.

Step 2:

Click on Apply Now

Step 3:

Fill in the required Personal details such as Name, Contact Number, Birth Year, and Business Loan Amount.

Step 4:

Choose the employment type 'Salaried' OR 'Self-Employed'

Step 5:

Add your monthly income

Step 6:

Select the State and branch (enter the branch by city) and Submit the business loan application form.

Step 7:

Wait for a call from the official representative to move ahead with the processes.

After completing all the steps, like scanning, uploading the required documents, and paying the processing fees, wait until your business loan application is approved.