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For Doctor (Personal/Business) loan SMS DLM to 9773633633
For Doctor (Home /Loan Against Property) loan SMS DLM to 9773633633
All our loans come with the Part-Prepayment facility. With this, you can part prepay as much as you want for up to 6 times in a calendar year, post the clearance of your first EMI. Minimum amount should be 3 times of the EMI for Part prepayment
Flexi Loan : Customer avails loan and uses the same as a fixed loan limit with renewal option every year. Option to prepay with surplus funds as well as withdraw within the available limit Repayment of interest only every month, applicable on the utilized amount. Term loan: Customer avails loan and repays in equated installments normally option to prepay with surplus funds, but no withdrawal options. Repayment of interest and principal every month.
Loan against property sanctioned by us can be used for the following end uses:
Business needs
Mortgage buyout/Balance Transfer of existing loan
Consolidation of debt
Personal needs
There are no restrictions on the end usage of the loan unlike home loan/mortgage loan. Doctors can use them for any of his personal needs for example: loans for clinic, loans for medical practice, financing hospital etc.
Below are different types of fee & charges that are levied on a loan ( only if applicable)
Interest rate applicable for Business & Professional Loans Customer varies basis the credit score which includes without limitations, a number of variables such as, customer details, loan delinquency and many more. These variables have been recognized as material risk explaining variables in company segmentation analysis. The aforesaid is dynamic and gets revised periodically as per the experience and performance of past portfolio and hence subject to change.
BPI (Broken Period Interest) is applicable for cases disbursed post 15th of every month. BPI is calculated on pro-rata basis for the remaining days of the month from the date of disbursal. This is so because the EMIs start from the second month of loan booking. The 1st month is considered as free period where no interest or EMI is charged from the customer.
Processing fee This is the amount of fee charged for end to end processing of the customer’s loan application.
Foreclosure charge is charged from the customers who wish to close the loan account before the completion of loan tenure.
Stamp Duty is a government charge, levied on customer as per the amount prescribed by the state government. Please note Stamp duty varies from state to state.
Goods & Service Tax is as applicable and prescribed by the government.
Bounce Charge is an amount charged as a penalty where the PDC(s) issued by the Customer is(are) not honoured by the bank, or ECS or any other Repayment Mode is(are) returned or not honoured.
Penal Interest is an additional interest payable by the Borrower to the Lender as a penalty in case of delay in payment of monthly installments.
Pre-payment Charge is a penalty for repayment of the principal amount, including the interest on the principal amount, of the Loan, either in part or whole, before its scheduled repayment date.
