To begin your journey as a doctor or any other healthcare professional involves several challenges. Even though the profession ensures a handsome amount of income, the biggest challenge that it incorporates is finance. To start up or expand the healthcare business, a doctor requires a number of essential things, such as a well-equipped clinic and high-quality equipment, and to do this, they require a good amount of financial stability. If you are a doctor or a healthcare professional seeking a solution to this problem, then availing loans for doctors in Sydney would be beneficial for your interest.
Why To Avail A Doctor Loan?
Many Doctors wish to start up their own healthcare business and establish a clinic or expand the existing one. However, due to several other expenses that also involve the expense of their studies, they fail to make their dream of owning their practice come true. Therefore, a doctor can turn their dream into reality through a loan for the doctors by consulting a finance broker in Sydney. The reason why loans for doctors in Sydney are a good option to solve financial problems is that all the loans for doctors and healthcare professionals are customised as per their needs and preferences.
What Can A Doctor Loan Be Used For?
A loan for doctors can be used for a number of purposes. Based on your needs, requirements and preferences, you can claim several benefits through loans for doctors in Sydney. These benefits can be:
- Starting up a new clinic and dealing with the expenses for the initial infrastructure.
- Purchasing new and advanced equipment or upgrading the existing ones.
- Hiring a staff that has high qualifications and expanding the reach of treatments as well as facilities at your clinic.
- Renovating the clinic and modernising it.
- Purchasing equipment for the office, including chairs, AC, computers, machines, furniture and many more.
How To Avail A Doctor Loan?
A loan for doctors or any other healthcare professionals can be availed with very little hassle. However, in order to do that, they may be required to be under the eligibility criteria for a doctor loan as they consult a finance broker in Sydney.
Eligibility Criteria For A Doctor Loan.
Every doctor or healthcare professional needs to meet the eligibility criteria for a doctor loan, whether they are self-employed practitioners or salaried medical employees. Some of the important points of eligibility criteria include:
- They must be aged between 22-65.
- Must have a minimum of 1 year experience.
- Have an earning of more than 15,000.
Along with the eligibility criteria mentioned above, some other factors like debt-free repayment history, CIBIL, or credit score may also be considered before sanctioning the loan. With a high credit score, a doctor can take advantage of low interest rates for loans for doctors in Sydney.
Education Qualification Required.
In order to avail of a loan, a doctor needs to have a required qualification that would determine the sanctioning of the loan. The education qualification required for the loan is:
- MBBS- for graduate doctors.
- BAMS/DHMS/BHMS for the doctors associated with homoeopathy and ayurveda.
- MD/MS/DM for superspeciality doctors.
- BDS/MDS for dentists.
Documentation Required.
The Documentation required to avail of a loan by consulting a finance broker in Sydney includes the following:
- Address proof: Electricity bill, ration card, passport.
- Identity proof: Aadhar card, driving licence, voter ID, passport.
- Employment certificate of one year for individuals who have a salaried medical employment.
- Proof of income: A proof of previous bank statement and salary slip of six months of salaried employees.
These are the reasons to avail loans for doctors in Sydney, along with the essential factors that are required to avail them. Loans for doctors can be beneficial to take the healthcare business to the next level without being too worried about finances.
