Applicable fees and charges
| Types of fees | Charges applicable |
| Rate of interest | 11% - 18% 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 *The Flexi charges above will be deducted upfront from the loan amount. *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 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 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 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 interest | Delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment. |
| Stamp duty | Payable as per state laws and deducted upfront from the loan amount |
| Mandate rejection service 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.) |
| Mandate registration charges | In case of UPI mandate registration, Re. 1 (inclusive of applicable taxes) will be collected from the customer. |
Loan application process for doctors
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Frequently asked questions
The processing fee for a Bajaj Finserv Doctor Loan may go up to 2.95% of the loan amount, inclusive of applicable taxes.
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.
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%.
You can get a Bajaj Finserv Doctor Loan at a competitive interest rate between 11% and 18% p.a.
