A loan for all your goals
3 unique variants of our personal loan for doctors
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Flexi Term Loan
Imagine that you take out a Rs. 8 lakh loan with a 24-month duration. For the first six months, you make regular EMI payments. By now, you have repaid about Rs. 2 lakh plus interest.
You realise that you require Rs. 3 lakh more. You only need to sign in to My Account, and withdraw the money from your Flexi Term Loan account. Let us say that three months later, you decide to pay off your Flexi Term Loan partially. Again, all you have to do is sign in to My Account and make a part-prepayment.
You are only paying interest on the amount that is now due, since your interest has been automatically adjusted throughout. Your EMI includes both the principal and the adjusted interest.
For the modern lifestyle when managing money might be unpredictable, this loan variant is excellent.
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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 component. The interest and principal components of the EMI will be used for the remaining time.
Click here for a detailed description of how our Flexi Hybrid Loan works.
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Term Loan
This is just like your regular personal loan. You 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 associated interest.
There is a pre-payment charge for repaying your Term Loan before the end of the tenure.
Features and benefits of our personal loan for doctors
All you need to know about 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 unique variants – Term Loan, Flexi Term Loan, Flexi Hybrid Loan. Select the loan variant that suits you best.
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No part-prepayment charge on Flexi variants
Our Flexi variants allow you to borrow as many times as you want and part-prepay whenever you can. No extra charges.
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Loan of up to Rs. 55 lakh
Manage your small or large expenses with loans from Rs. 50,000 to Rs. 55 lakh through an end-to-end online application process.
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Convenient tenures of up to 8 years
Manage your loan comfortably with extended repayment options ranging up to 96 months.
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Money in your bank account in 48 hours*
In most cases, you will get your personal loan for doctors credited to your bank account within 48 hours of approval.
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No hidden charges
All the fees and charges are mentioned upfront on this page and in your loan documents. We advise you to read them in detail.
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No collateral or guarantor required
Get the personal loan for doctors without providing collateral or security such as gold ornaments or property.
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End-to-end online application process
You can apply for our personal loan for doctors anytime, from the comfort of your home or from wherever you are.
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*Terms and conditions apply
Still haven’t found what you’re looking for? Click on any of the links at the top of this page.
Eligibility criteria and documents required
There are just a few basic criteria to be eligible for a personal loan for doctors. You will also need some documents to complete the application process.
Eligibility criteria
- Nationality: Indian
- Age: 22 years to 72 years*
- CIBIL Score: 685 or higher
- Medical registration: Degree to be registered with the medical council
Documents
- KYC documents - Aadhaar/ PAN card/ passport/ voter’s ID
- Medical registration certificate
*Age should be 72 years or less at the end of your tenure.
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Did you know?
You can lower your EMI amount by choosing a longer loan tenure of up to 96 months.
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Did you know?
With Flexi Hybrid Loan, you can pay interest-only EMIs for the initial part of the tenure.
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Did you know?
You can apply with just 2 documents – KYC and medical registration certificate.
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Did you know?
No collateral such as a guarantor or gold ornaments is needed to get a doctor loan.
Applicable fees and charges
Type of fee |
Applicable charges |
Rate of interest |
11% to 18% p.a. |
Processing fees |
Up to 2.95% of the loan amount (inclusive of applicable taxes). |
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. |
Pre-payment charges |
Full Pre-payment
Part Pre-payment
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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 Maintainance 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. |
| 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). |
*Switch Fees is applicable only in case of switch of loan. In switch cases, Processing Fees and Documentation Charges will not be applicable.
Frequently asked questions
The Flexi Term Loan facility lets you withdraw and prepay funds from a pre-approved loan limit as per your requirement.
You are charged interest only on the amount you utilise, and, in case of Flexi Hybrid Loan, you also have the option to reduce your EMIs for the initial tenure.
Your loan account statement, your repayment schedule, and all other details of the personal loan for doctors are available on our customer portal, My Account. You can view all your previous transactions with Bajaj Finserv under the My Relations tab on My Account.
Bajaj Finserv offers personal loans for doctors up to Rs. 55 lakh. You can check the loan amount pre-approved for you by sharing just the basic details.
Alternatively, you can enter your details in the online form and apply for a personal loan for doctors.
A Flexi Term Loan and Term Loan are two variants offered by Bajaj Finserv.
In a term loan, your instalments comprise an interest component and a principal component, and the EMI amount remains fixed throughout the tenure.
The Flexi Term Loan, on the other hand, gives you access to a loan limit. You can withdraw and repay as per your convenience. In Flexi Hybrid Loan, you also have the option of interest-only EMIs for the initial part of the tenure.
If you are a pre-approved customer of Bajaj Finserv, you can check your offer by entering your name and phone number.
If you are new to Bajaj Finserv, you can apply by filling up the online application form and submitting your KYC and other documents.
You should have a CIBIL Score of 685 or higher in order to apply for a doctor loan.
