Doctor Loan fees and charges

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

Doctor loan interest rates and applicable charges

Types of fees Charges applicable
Rate of interest 11% - 22% 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

Flexi Term Loan (Flexi Dropline): Up to Rs. 999/- (inclusive of applicable taxes)

Flexi Hybrid Loan (as applicable below):
• Up to Rs. 1,999/- (inclusive of applicable taxes) for loan amount less than Rs. 2,00,000/-
• Up to Rs. 3,999/- (inclusive of applicable taxes) for loan amount from Rs. 2,00,000/- to Rs. 3,99,999/-
• Up to Rs. 5,999/- (inclusive of applicable taxes) for the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/-
• Up to Rs. 6,999/- (inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/-
• Up to Rs. 7,999/- (inclusive of applicable taxes) for the loan amount of Rs. 10,00,000/- and above

*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 such 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 such 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 such 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
Rs. 1,500 per bounce.
“Bounce charges” shall mean charges for non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason
Penal Charge Delay in payment of instalment(s) shall attract Penal Charge of Rs. 25 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
Stamp duty (as per respective state)
Payable as per state laws and deducted upfront from the loan amount
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.)
PG Facility Charges Rs. 11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties.
Cash Collection Handling Charges Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs.
Cash Deposit Charges Customers will incur a cash deposition charge of Rs. 50 (Inclusive of Applicable taxes) when making cash payments at our branch offices.
Full prepayment (Foreclosure) Foreclosure can be processed post clearance of first EMIs
• Term Loan

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 you fill out the form, click on ‘PROCEED’.
  5. Update the KYC details.
  6. Schedule an appointment for document verification.

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 up to 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 42%.

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 22% p.a.

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