How Healthcare Finance Makes Your Medical Practice Set Up Easier - Loan Trivia

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Friday, 22 February 2019

How Healthcare Finance Makes Your Medical Practice Set Up Easier

Healthcare finance, as the name suggests, is a credit scheme designed specifically to meet the cash needs of healthcare practitioners. This scheme also caters to the financial needs of self-employed medical professionals who want to set up a new medical practice. Therefore, if you are a medical practitioner planning to set your own clinic, here’s how healthcare finance can help you. 

Healthcare finance gives you access to a high amount as loan: Understanding the fact setting up a healthcare facility in India is quite expensive, healthcare financing entitle applicants with access to a higher loan limit. This allows people to borrow a higher amount as a loan and meet their needs without any difficulty.

Easy eligibility: Secondly, the eligibility condition listed for healthcare practitioners to follow is quite easy. An applicant needs to be above 18 years of age (higher with certain NBFCs and banks), must have adequate work experience i.e. medical practice, and must have a good monthly income.

  • Super specialists (MD/MS/DM) do not require any experience.
  • MBBS degree holders need a minimum of 2 years of practice experience.
  • Dental specialists must have over 5 years of experience.
  • Alternative medicine practitioners need a minimum experience of over 6 years. They must also own a house or clinic.

Flexible repayment tenor: Lastly, assuming a large amount would require an equally long time for repayment, healthcare financing subscribers are entitled with flexible repayment plans. This facilitates the repayment process and avoids the loan from becoming a burden.

To know more about healthcare financing, click here: Avail Healthcare Finance with Ease to Set Up Your Medical Practice

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