MATERIALS
Construction materials alone will be one of the biggest costs involved in renovating your clinic, especially if you want to add features like soundproofing. Add to this, the expense of transporting the materials safely to your clinic.
ARCHITECT
Hire an experienced architect with a background in designing spaces for hospitals to ensure maximum utilisation of the available space. You will also need to hire interior designers to match form and functionality in your clinic’s layout.
CONTRACTORS
You will need to hire construction workers and contractors for plumbing, electrical work, carpentry, and other requirements. While this is generally handled by the architect, the cost of employing such contractors will have to be paid by you.
3 unique variants of our doctor loan
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Flexi Term Loan
Consider that you obtain a Rs. 8 lakh loan with a 24-month term. You pay the EMI on time for the first six months. You should have paid back roughly Rs. 2 lakh plus interest by this point.
Now, you need an additional Rs. 3 lakh. You can sign-in to My Account to withdraw funds from your Flexi Term Loan account. Let’s say you decide to pay off a portion of your loan three months later. Once again, sign-in to My Account and make the payment.
Your interest has been automatically adjusted throughout, and you are paying interest only on the amount that is now due.
A modern-day practice demands dynamicism and may need quick investments. A Flexi Term Loan is perfect for such uses.
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Flexi Hybrid Loan
This alternative functions just like the Flexi Term Loan. The main distinction is that, for the loan’s initial period — which may vary depending on the loan’s tenure — your EMI will solely be made up of the interest applicable.
Click here for a detailed description of how our Flexi Hybrid Loan works.
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Term Loan
This loan is similar to the regular loans. You can take out a loan for a specific sum of money, which is then divided into equal monthly payments that include both the principal and the interest.
There is a pre-payment charge for repaying your Term Loan before the end of the tenure.
Features and benefits of our doctor loan
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Features and benefits of our doctor loan
Watch this video to know everything about the features of our doctor loan.
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3 unique variants
We have 3 new unique variants – Term Loan, Flexi Term Loan, Flexi Hybrid Loan. Choose the loan variant that works best for you.
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No part-prepayment charge on Flexi variants
With Flexi variants, you can borrow as many times as you want to and part-prepay whenever you can. No extra charges.
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Loan of up to Rs. 80 lakh
Get loans from Rs. 2 lakh to Rs. 80 lakh to manage your small/ large expenses. Available through an end-to-end online application process.
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Convenient tenures of up to 8 years
Get the added flexibility to pay back your loan with repayment options ranging from 12 months to 96 months.
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Money in your bank account in 48 hours*
In most cases, you will get your doctor loan credited to your bank account within 48 hours* of approval.
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No hidden charges
All the fees and charges are clearly mentioned on this page and in your loan documents. Please read these in detail.
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No collateral required
You do not have to provide any collateral or security such as gold ornaments or property to get our doctor loan.
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End-to-end online application process
You can apply for our doctor loan anytime, from the comfort of your home or from wherever you are.
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*Terms and conditions apply
Eligibility criteria and documents required
Any doctor can apply for our doctor loan, as long as you meet four basic criteria mentioned below. You will also need a set of documents to complete the application process.
Eligibility criteria
- Nationality: Indian
- Age: 22 years to 80 years*
- CIBIL Score: 685 or higher
- Medical registration: Degree to be registered with the medical council
*Higher age limit is applicable at the time of loan maturity.
Documents
- KYC documents - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- PAN card
- Medical registration certificate
*Additional documents required, if any, will be communicated during the application process.
Loan application process for doctors
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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) |
| 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 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 (i) dishonour of any payment instrument; or (ii) 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. |
| Legal and incidental charges | Recovery for charges |
Frequently asked questions
The Flexi Term Loan facility is a unique financial offering that lets you withdraw and prepay funds from your loan limit as per your requirement
In Flexi Hybrid Loans, you are charged interest only on the amount you utilise, and you have the option to reduce your EMIs during the initial tenure.
Your loan account statement, your repayment schedule, and all other details of your doctor loan are available on our customer portal, My Account. In fact, you can see details of all your previous transactions with Bajaj Finserv under the My Relations tab on the customer portal.
Bajaj Finserv offers doctor loans of up to Rs. 80 lakh. You can check the doctor loan amount pre-approved for you by sharing a few basic details with us. Alternatively, you can enter your details in the online form and apply for a doctor loan.
A Flexi Hybrid Loan and a Term Loan are two variants of doctor loans offered by Bajaj Finserv.
A Term Loan is a regular doctor loan, where you avail of the amount you need and repay it over the loan tenure. Your instalments comprise an interest component and a principal component, and the EMI amount remains fixed throughout the tenure.
The Flexi Term Loan is a smart loan option that gives you access to a loan limit that you can withdraw from and repay as per your convenience. With the Flexi Hybrid Loan, you have the option of interest-only EMIs for the initial part of the tenure.
As the name suggests, the Flexi variants are more flexible, and offer you the chance to reduce the burden of loan repayments.
If you are a pre-approved customer of Bajaj Finserv, you can check your doctor loan offer by entering your name and phone number here. With pre-approved offers of up to Rs. 80 lakh, applying for a doctor loan is quick and easy.
If you are new to Bajaj Finserv, you can apply for a doctor loan by filling up the online application form and submitting your KYC and other documents. Make sure you read about the documents required and the eligibility criteria before applying for a doctor loan.
