Results generated by the calculator(s) are indicative in nature. The interest rate applied on the loan will depend on the prevailing rates at the time of loan booking. The calculator(s) are not intended to provide its users/ customers with results that are either certified by Bajaj Finance Limited (“BFL”) or are an obligation, assurance, warranty, undertaking or commitment, financial and professional advice by BFL, under any circumstances. The calculator(s) are only a tool that assists the users/ customers arrive at results of various illustrative scenarios generated from data input by the user/ customer. The use of the calculator is entirely at the risk of the user/ customer, BFL is not responsible for any reason, for any errors in any outcome resulting from the use of the calculator.
Frequently asked questions
A doctor loan EMI is the fixed monthly amount you need to pay on a specified date till the entire loan is repaid. EMI consists of the principal amount along with the interest accrued on it. These monthly instalments are an easier method of repaying your doctor/ physician loan as the repayable funds get distributed in smaller, convenient amounts for the loan tenor.
Bajaj Finserv further makes repayment easier with flexible tenors of loans for doctors. You can check your EMIs over a chosen repayment schedule using the Physician Loan Calculator.
A Doctor Loan EMI Calculator is an effective and easy-to-use online calculator which computes the Physician Loan EMI amount within seconds. It also shows the total interest and the full amount (interest + principal) payable separately.
The EMI calculator helps you know your monthly payments towards your loan so that you can plan your finances accordingly. It helps you choose the loan amount and tenor per your repayment ability and effectively meet your practice's short-term financing requirements.
The Doctor Loan EMI Calculator works based on a pre-set mathematical formula:
E = P * R * (1+R)^N / ((1+R)^N-1)
In this formula, the variables stand as:
E = EMI
P = Principal loan
R = Rate of interest
N = Repayment tenor (in months)
This doctor loan calculator is simple to use. Enter the total loan amount, the rate of interest and your chosen tenor in months. The calculator will instantly show the EMIs based on the details you provided.