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Loan Against Property Balance Transfer Top-up for Doctors for Practice Upgrades

You might be thinking about moving your clinic to a bigger space and adding more medical equipment to grow your practice. If funding is a roadblock, consider our loan against property balance transfer top-up loan and manage the upgrades.

Interiors and redecoration

INTERIORS AND REDECORATION

When you start a new practice, you need to make sure that your clinic looks plush. Good interiors, elegant decor, and basic amenities like a washroom, and pantry are some prerequisites. These additions can cost a few lakhs.

Modern Equipment

MODERN EQUIPMENT

Upgrading with modern equipment is the smartest way to enhance your healthcare offerings. You will also need well-trained staff who will operate these machines. All these things can cost you tens of lakhs each and every single month.

Stocking the Pharmacy

STOCKING THE PHARMACY

These days, almost all hospitals and other medical facilities have their own pharmacies for a variety of reasons. By maintaining a well-stocked pharmacy, you can save your patients time and effort, which is always appreciated.

Cashflow gaps

CASHFLOW GAPS

It takes a couple of years to sustain a new practice and become profitable. With the help of a top-up on your Loan Against Property Balance Transfer, you can ensure that you work to grow your practice while there is enough cash flow to manage the running costs.

Staff training

STAFF TRAINING

Make an investment in training your staff as they play a crucial role in growing your practice. Sign up for programmes that help your staff improve with time.

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Frequently asked questions

Why should I choose a loan against property balance transfer?

It is recommended that you choose a loan against property balance transfer when your present loan against property lending terms are no longer feasible for you. Transferring your loan against property balance to a different lender may entitle you to competitive interest rates, longer repayment tenure and a top-up loan.

Who can apply a loan against property balance transfer?

Anyone with an existing loan against property can apply for a balance transfer with us. Your age, employment status, and city of residence are some of the key criteria to apply for the loan.

Is a self-employed doctor eligible for a loan against property balance transfer?

A self-employed doctor, who is an Indian citizen residing in India, between the age group of 25 years to 85 years is eligible for the balance transfer. Additionally, you must hold an MBBS or subsequent higher degree. You should also have a business continuity of over 5 years in your current practice.

*Terms and conditions apply

What kind of documents are required for loan against property balance transfer?

If you are planning to apply for a loan against property balance transfer, you must be ready with some basic paperwork. A self-employed doctor should have their KYC documents, proof of income (P&L statement and ITR), property documents like title deeds, account statements for the past 6 months, and proof of medical practice existence, handy.

What is the maximum repayment tenure for a loan against property?

You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years*.

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