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Doctor Loan FAQ

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Frequently Asked Questions

What is the range of loan amount I can avail of?

With Bajaj Finserv, you can avail of a Mortgage Doctor Loan ranging upto 2 Crores.

What is the range of tenor available with these loans?

The minimum tenor available for this loan up to 240 months.

Is the rate of interest fixed or floating?

We offer both fixed and floating rate of interest depending upon loan type,

What is the mode of repayment?

You can repay through NACH (National Automated Clearing House)

What do I need to do to avail of a Doctor Loan online?

Click here for applying online For Doctor (Personal/Business) loan SMS DLM to 9773633633 For Doctor (Home /Loan Against Property) loan SMS DLM to 9773633633

Can I make part payments on my Doctor Loan?

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

Are there any Foreclosure and Part prepayment charges?

The details regarding the foreclosure and part prepayment charges can be checked here.

What is the difference between Flexi Loan and a Term Loan?

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.

What are the end uses of the loan against property which can be sanctioned by BFL?

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

If a property is jointly owned by an individual and his/her relatives, can he/she take a loan against this property?

Yes, he/she can take the loan. All the co-owners of the considered property need to come in as co-applicants to the loan.

What are the end uses of the personal loan for doctors?

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.

What are the Fees and Charges which I incur during Loan Processing?

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.

What is the TAT(Turn Around Time) for Foreclosure Statement?

The TAT for issuance foreclosure statement is typically 12 working days.

What to do when your Complaint/Service Request is not resolved within 30 days?

For such matters you can escalate to the concerned person mentioned below:

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