Applicable fees and charges
FEES AND CHARGES | |
Types of fees | Charges applicable |
Rate of interest | 11% - 22% per annum |
Processing fee | Up to 2.95% of the loan amount (inclusive of applicable taxes) |
Documentation charges | Up to Rs. 2,360 /- (inclusive of applicable taxes) |
Flexi fee | Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to Rs. 999/- (inclusive of applicable taxes) Flexi Hybrid Loan (as applicable below) - a fee will be deducted upfront from the loan amount: • Up to Rs. 1,999/- (inclusive of applicable taxes) for loan amount less than Rs. 2,00,000/- • Up to Rs. 3,999/- (inclusive of applicable taxes) for loan amount from Rs. 2,00,000/- to Rs. 3,99,999/- • Up to Rs. 5,999/- (inclusive of applicable taxes) for the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/- • Up to Rs. 6,999/- (inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/- • Up to Rs. 7,999/- (inclusive of applicable taxes) for the loan amount of Rs. 10,00,000/- and above *Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges. |
Prepayment charges | Full prepayment • Term Loan: Up to 4.72% (inclusive of applicable taxes) of the outstanding loan amount as on the date of full such prepayment • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full such prepayment • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full such prepayment Part prepayment • Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment • Not applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid Loan |
Annual maintenance charges | Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges Flexi Hybrid Loan: • Up to 0.59% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure • Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure |
Bounce charges | In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied. |
Penal charge | Delay in payment of instalment(s) shall attract Penal Charge of Rs. 25 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from the loan amount |
Mandate rejection charges | Rs. 450/- per month from the first month of due date for mandate rejected by customer’s bank until the new mandate is registered |
Broken period interest/ pre-EMI interest | Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s), which is(are) charged in two scenarios: Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged: In this scenario, broken period interest is recovered by the following methods: • For Term Loan: Deducted from the loan disbursement • For Flexi Term Loan: Added to the first instalment • For Flexi Hybrid Loan: Added to the first instalment Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged: In this scenario, interest is charged only for the actual number of days since the loan was disbursed. |
Switch fees | Up to 1.18% of the loan amount (inclusive of applicable taxes) (Switch fee is applicable only in case of switch of loan. In switch cases, processing fees and documentation charges will not be applicable.) |
How to apply for a doctor loan
Frequently asked questions
The processing fee for a Bajaj Finserv Personal Loan for Doctors may go up to 2.95% of the loan amount, inclusive of applicable taxes.
When making a part-prepayment, you must account for a fee of Up to 4.72% (inclusive of applicable taxes) on the part-prepayment amount made.
The penalty charged when you miss in payment of EMI is called a bounce charge. Bajaj Finance charges Rs. 1,500 per bounce, for every EMI missed. Also delay in the payment of monthly instalment shall attract penal interest at the rate of 42% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment.
You can get a Bajaj Finserv Personal Loan for Doctors at a competitive interest rate between 11% and 22% p.a.