Doctor Loan fees and charges

Read the fees and charges in detail before applying for our Doctor Loan.

APPLY

Applicable fees and charges

Type of fee

Applicable charges
Processing fees Up to 2.95% of the loan amount (inclusive of applicable taxes).







Flexi Fee

Term Loan – Not applicable

Flexi Term Loan (Flexi Dropline) - Rs. 999/- (Inclusive of applicable taxes)

Flexi Variant (as applicable below) -
Rs. 1,999 (Inclusive of applicable taxes) for loan amount upto Rs. 1,99,999/-

Rs. 3,999 (Inclusive of applicable taxes) for loan amount from Rs. 2,00,000/- to Rs. 3,99,999/-

Rs. 5,999 (Inclusive of applicable taxes) for the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/-

Rs. 6,999 (Inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/-

Rs. 7,999 (Inclusive of applicable taxes) for the loan amount of Rs. 10,00,000/- and above

*Charges will be deducted upfront from the loan amont

Rate of interest

11% to 18% p.a.

Bounce charges

Rs. 1,500 per bounce.

Penal interest

Any delay in payment of monthly instalment/ EMI shall attract penal interest at the rate of 3.50% per month on the monthly instalment/ EMI outstanding from the date of default until the receipt of the monthly instalment/ EMI.

Part-prepayment charges*

4.72% inclusive of applicable taxes on part-payment amount paid.

Stamp duty

Payable as per state laws and deducted upfront

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.
Annual maintenance charges

Flexi Loan - 0.295% inclusive of applicable taxes on the total withdrawable amount.

Flexi Hybrid Loan – 0.59% inclusive of applicable taxes on the total withdrawable amount during the initial tenure and 0.295% inclusive of applicable taxes during the subsequent tenure.
Foreclosure charges

Term Loan – 4.72% inclusive of applicable taxes on the principal outstanding amount as on the date of such full prepayment.

Flexi Term Loan and Flexi Hybrid Loan - 4.72% inclusive of applicable taxes on total withdrawable amount (total loan amount that you can withdraw under Flexi Term Loan and Flexi Hybrid Loan from time to time as per the repayment schedule on the date of levy of such charges).
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):

Scenario 1: Over and above the period of 30 (thirty) days from the date of disbursement of the Loan

 Method of recovery of Broken Period Interest/Pre-EMI Interest:
For Term Loan: Deduct from disbursement

For Flexi Term Loan: Added to first instalment amount

For Hybrid Flexi Loan: Added to first instalment amount

Scenario 2: Less than period of 30 (thirty) days from the date of disbursement of the Loan, Interest on first instalment will be charged for actual number of days


*These charges are not applicable on the Flexi Term Loan and Flexi Hybrid Loan. Moreover, part-prepayment should be more than one EMI.

Loan application process for doctors

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Step-by-step guide to apply for a doctor loan

  1. Click on the ‘APPLY’ button on this page.
  2. Enter your 10-digit mobile number and OTP.
  3. Fill in the application form with your basic personal and professional details.
  4. Once the form is filled, click on ‘PROCEED’ to go to the loan selection page.
  5. Enter the loan amount that you need. You can choose from our three doctor loan variants – Term Loan, Flexi Term Loan, and Flexi Hybrid Loan.
  6. Choose the repayment tenure – you can select tenure options ranging from 12 months to 96 months – and click on ‘PROCEED’.
  7. Complete the KYC and submit your doctor loan application.

Note: Keep your medical registration certificate handy to finish the KYC process.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account upon verification of your documents.

Frequently asked questions

What is the processing fee for a doctor loan?

The processing fee for a Bajaj Finserv Doctor Loan may go up to 2.95% of the loan amount, inclusive of applicable taxes.

Is there a charge applicable on part-prepayments?

You will incur a charge of 4.72% (Inclusive of applicable taxes) on the part-prepayment amount made. There is no part-prepayment charge if you opt for a Flexi Term Loan or a Flexi Hybrid Loan.

What does bounce charge mean?

If you miss an EMI payment, you have to pay a fee which is known as the bounce charge. Bajaj Finserv charges Rs. 1,500 per bounce, for every EMI missed. In case of late payment or EMI(s) default, penal interest will be levied at a rate of 3.50%.

What is the interest rate for a doctor loan?

You can get a Bajaj Finserv Doctor Loan at a competitive interest rate between 11% and 18% p.a.

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