Doctor Loan
Health insurance acts as a financial safety net for your medical needs, offering peace of mind and protection against unexpected healthcare costs. Imagine it as an umbrella shielding you from the downpour of medical bills. By pooling the resources of many policyholders, it spreads the financial burden of illness and accidents, ensuring everyone has access to necessary care.
With various coverage options available, health insurance typically covers hospitalization, doctor visits, prescription drugs, and preventive care. Some plans even extend to dental and vision care, providing comprehensive medical support. The cost of premiums depends on factors like your age, location, health condition, and chosen plan. However, the investment in health insurance is invaluable, safeguarding your financial well-being during unforeseen medical emergencies.
Salient features of doctor loan:
Doctors are professionals who need funds to pursue the independent practice, and it is inherent to any professional activity. Thus instant loan for doctors both personal and business is eminently required for the establishment and growth of the successful practice. While conventional lenders like banks have different customized schemes for doctors, the new-age NBFCs like Prakriti Wealth are charting a course free from the cumbersome procedures generally prevalent. Digital NBFCs offer a host of benefits to attract Doctors to avail their loan products suited to the present-day requirements. Some of the redeeming features are:
- Hassle-free digital application process.
- Competitive Doctor’s loan interest rate
- Quick loan processing.
- Generous collateral-free loan amount.
- Simplified documentation.
- Transparent transactions without hidden cost.
Documents required for Doctor Business Loan:
Most NBFCs inclusive of have a liberal outlook towards documentation seeking bare minimum as essential documents. Accordingly, the set of documents required are:
- KYC documents comprising of valid ID, Residence Proof, PAN card and Aadhaar card.
- IMA / MCI Registration Certificate or appropriate as per qualification.
- Bank statements of the preceding six months
- ITR and statement of computation for the previous two years.
- Form 16A of the last two years.
- Details of any other loans availed of in the past or running currently.
- Any other document sought by the lender.
Doctor Business Loan FAQs:
1.What is a Loan for a Doctor?
A loan for doctors is a type of financial assistance offered to medical professionals, such as doctors, nurses and healthcare providers. This type of loan helps medical professionals cover the cost of medical equipment, supplies, and fees associated with their practice. With a doctor loan, they can also fund their education, personal and professional expenses.
2.Who can apply for Doctor Business Loan?
3.Are only Allopathic Doctors eligible for Doctor Business Loan?
Contrary to the common notion, professionally qualified Dentists, Homoeopaths and Ayurved Doctors are also eligible for the loan, subject to meeting other norms