The healthcare industry is one of the largest and fastest growing service sectors in India. Recent predictions estimate a threefold increase of this sector, reaching Rs. 8.6 trillion by 2022.
Such massive growth in the industry is largely thanks to the increasing demand for quality healthcare services and the availability of finances for doctors and physicians. Multiple financial organisations including NBFCs offer loans to promote business growth of the medical care industry.
There are a number of financial institutes which offer loans which are tailor-made to help medical professionals meet their requirements and serves a variety of their financial needs. There are a number of lenders including financial institutions such as NBFCs (Non-Banking Financial Companies) which provide physician loans to help medical professionals provide better services to their patients.
Some of the top benefits and features of loans are as follows -
Flexi-Loans - This facility provides the borrower of taking out a certain amount of funds from the approved limit. The instalment to be paid and the interest rate is calculated on the amount which is drawn and not the entire approved amount. This reduces the burden of repayment and the borrower becomes tax-free more quickly.
Disbursal - Anyone who opts for a loan wishes for it to be disbursed at the earliest and in case of physician loans, it gets approved and disbursed at the earliest.
No Collateral - Collateral refers to any asset which one has to pledge in order to get the loan sanctioned and in these kind of loans, one does not have to offer any collateral which makes it even more attractive.
