According to recent reports, India lacks on the doctor-to-population index with a value of 1:1456 as opposed to WHO’s recommendation of 1:1000. This indicates a massive gap in the healthcare sector. Doctors and other medical professionals can thus benefit from suitable loan options from reliable financial lending institutions.
Besides availing a medical practice loan, professionals should also invest in ideal malpractice insurance plan to protect themselves from untoward claims of negligence and malpractice. Availing a loan to expand and enhance medical practice, doctors can easily fund multiple crucial changes such as business expansion, hiring skilled professionals and IT professionals in their facilities as well as investing in advanced state-of-the-art equipment.
Several lending institutions also offer loans for doctors with a high-value financing quantum. Some of the benefits that doctors can avail with such financing are quick loan disbursal and flexible repayment tenure. However, they should carefully assess their eligibility criteria before opting for a medical practice loan.
Besides, some lenders also offer personal loans for doctors up to Rs.25 lakh, with minimum documentation and attractive interest rates. Professionals should, however, analyse their exact requirement before applying for a loan amount.