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. 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 |
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): 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.
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.