Personal Loan for Doctors fees and charges

Read the fees and charges in detail before applying for our personal loan for doctors.

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Applicable fees and charges

FEES AND CHARGES  
Types of fees Charges applicable
Rate of interest 11% to 17% per annum
Processing fee Up to 2.95% of the loan amount (inclusive of applicable taxes)
Flexi Facility Charge Term Loan – Not applicable

Flexi Loan – Up to Rs. 999/- to Rs. 16,999/- (Inclusive of applicable taxes) will be deducted upfront from loan amount.
Prepayment charges

Full Pre-payment

• Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
• Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as per the repayment schedule, as on the date of full prepayment.
• Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount.as per the repayment schedule, as on the date of full prepayment.

Part Pre-payment

•Term Loan: Up to 4.72% (Inclusive of applicable taxes) of principal loan amount prepaid on the date of such part pre-payment
• Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan
Annual maintenance charges Term Loan: Not Applicable

Flexi Term (Dropline) Loan: Up to 0.472% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Term Loan: Up to 0.59 % (Inclusive of applicable taxes) of the Dropline limit during Initial loan tenor. Up to 0.472% (Inclusive of applicable taxes) of Dropline limit during Subsequent loan tenor
Bounce charges

Rs. 1500/- 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 at the rate of 36% per annum 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

How to apply for a doctor loan

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Step-by-step guide to apply for a personal loan for doctors

  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 the form is filled, click on ‘PROCEED’ to go to the loan selection page.
  5. Enter the loan amount that you need. You can choose from our three variants – Term Loan, Flexi Term Loan, and Flexi Hybrid Term Loan.
  6. Choose the repayment tenure – you can select tenure options ranging from 12 months to 96 months – and click on ‘PROCEED’.
  7. Complete the KYC and submit your personal loan for doctors application.

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 personal loan for doctors?

The processing fee for a Bajaj Finserv Personal Loan for Doctors may go up to 2.95% of the loan amount, inclusive of applicable taxes.

Is there a charge applicable on part-prepayments?

When making a part-prepayment, you must account for a fee of Up to 4.72% (inclusive of applicable taxes) on the part-prepayment amount made.

What does bounce charge mean?

The penalty charged when you miss in payment of EMI is called a bounce charge. Bajaj Finance charges Rs. 1,500 per bounce, for every EMI missed. Also delay in the payment of monthly instalment shall attract penal interest at the rate of 36% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment.

What is the interest rate for a personal loan for doctors?

You can get a Bajaj Finserv Personal Loan for Doctors at a competitive interest rate between 11% and 17% p.a.

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