There are few professions in the world that command respect as high as being a doctor. The medical profession not only guarantees a position of respect in the society but it also ensures a good income, both through private practice or by being attached to a hospital. It is hence, quite possible that after a point of time a doctor would want to own a property of his own and a physician home loan is the best option to make this dream come true. Banks and NBFCs like Bajaj Finserv have very good options for doctor home loans.

A number of benefits can be availed by applying for a home loan for doctors from Bajaj Finserv. One can make use of the unique combination of Term Loan for consistent cash flow. Again, there is also the flexi- loan option that provides the doctor the opportunity to borrow and repay the loan as and when it suits him, and the interest has to be paid only on the amount that has been withdrawn from the loan account. There are also options for making pre- payments and the EMIs can also be paid over an extended period of time, with also options for making EMI- only payments, with the principal to be paid at the end of the tenure.

To further add to the benefits, it is also possible under most banks and NBFCs like Bajaj Finserv to transfer the physician home loan just in case he does not want to pay the higher rates of interest that he was initially paying to the previous creditor. Home loan balance transfers allows the doctor to make reduced monthly payments and save a considerable sum of money in the long run that could be used in the other areas of life. One can also avail customized repayment solutions and lower interests means the loan becomes a lot more feasible. So even if a doctor does have a home loan from another creditor and finds that another bank or NBFC like Bajaj Finserv has a lower interest rate, then the outstanding loan amount can be very easily transferred at no extra cost, the only criteria being that continuous EMIs have to be paid for 12 consecutive months to the previous creditor.

Existing customers are also entitled to get pre- approved offers and they often include top- up loan facility or further reduction of interest rate from time to time. On applying for physician home loan, the doctor would be given a dossier, which a customized report is providing him with all the relevant information that we would need to know about while buying a home. It would explain in details all the legal and technical aspects of the loan, along with general property knowledge tips and the property index of the city. To enable the doctor to make a better informed decision, the doctor would also receive property search services, and he would also be helped with property suggestions that would best suit his requirements, locality, housing infrastructure and other amenities that goes into buying a house. A doctor just needs to submit his KYC documents, IT returns and bank documents of the last three years and educational degree certificated for the final verification.

A doctor could get a physician home loan for up to Rs 2 crore and there is need for minimum documentation. Not only is the loan disbursal extremely fast, with loans being approved in as less as 48 hours, one can also avail insurance to cover the loan with the payment of a onetime premium. The premium could also be funded as part of the loan amount to ease the burden on the debtor and are provisions of zero percent finance as well. Owing to a doctor’s packed schedule, provisions are also made to enable the doctor to check his loan account frequently online and while on the move.