Also known as ‘Business Loan for doctors’, this is a loan for Consultants and Practicing Doctors working in a government / private clinic or a hospital. If you’re looking to expand your scale of operations to provide better service and treatment facilities, this Medical Loan for Doctors in India by Bajaj Finserv is something that ties together multiple benefits along with quick approvals and a low rate of interest.

Doctor Loan Fees and Charges:

With a loan tenor of up to 60 months and low rate of interest for Doctor Loan in India, the minimal fees and Charges applicable are:

Types of fees Charges applicable
Rate of interest 22% to 33%
Processing fees 2% of the loan amount for Salaried/ Self Employed
Loan statement charges NIL
Interest & principle statement charges NIL
PDC swap charges NIL
EMI bounce charges Rs.1000 for every bounce
Penal interest 2.00% p.m
Secure fee Rs. 2999/-

*Applicable following 1st EMI clearance.

Foreclosure Charges

Borrower Type: Interest Type Time Period (Months) Foreclosure charges
Individual: Floating rate >1 Nil
Non-Individual: Floating rate & All borrowers: Fixed rate >1 4% plus applicable taxes
  • For Term Loan on principal outstanding
  • For Line of credit (Flexi Pure) Charges will be calculated on sanctioned limit
  • For Flexi Saver (Dropline Flexi) charges will be calculated on current Dropline limit

 

Part prepayment Charges

Borrower Type: Interest Type Time Period (Months) Part payment charges
Individual: Floating rate >1 Nil
Non-Individual: Floating rate & All borrowers: Fixed rate >1 2% plus applicable taxes on part payment amount paid
  • Part payment made should be more than 1 EMI
  • Charges not applicable for Line of credit (Flexi Pure) & Flexi Saver (Dropline Flexi)