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Personal Loan For Doctors

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Personal Loan for Doctors: Features and Benefits

With the quick and convenient Bajaj Finserv Personal Loan for Doctors, fund all your personal financial needs, from weddings and vacations to your children’s higher education. Get hassle-free funds up to Rs.42 lakh with quick disbursal money in just 24 hours*. With an easy online application, our process is designed to fit your busy schedule and give you the funds you need with ease.

  • Loan up to Rs.42 lakh

    With personal finance for doctors, you can get funds up to Rs.42 lakh to meet various expenses like wedding, travel or education.

  • education loan online

    Quick processing

    Online application process with minimal documentation followed by quick approval in just 24 hours* save your time and help you meet your urgent expenses.

  • padho pardesh scheme education loan

    Flexi loan facility

    With the Flexi loan facility, you can withdraw funds as per your need from a sanctioned loan limit and prepay when you want. You can also choose to pay only the interest component of your loan as monthly EMIs and lower your instalment by up to 45%*.

  • Longer repayment tenors

    You can select a tenor ranging from 12 months to 96 months as per your repayment capacity.

  • Minimal documentation

    Minimal documentation, to save you the trouble of lengthy paperwork.

  • Minimal paperwork with no collateral

    You can avail of an MSME loan for doctors online with minimal documents and without pledging any collateral.

  • Part-prepayment facility

    You can part-prepay your loan without any extra charge. However, your prepaid amount must be equal to the value of 3 EMIs.

  • Pre-approved offers

    Customised pre-approved offers for you to expedite your borrowing process.

Eligibility Criteria for Personal Loan for Doctors

The eligibility criteria for a personal loan for doctors are easy to meet. They are:
  • Degree Type
  • Minimum Eligibility
  • Super Specialist, Post-graduate, Specialised Diploma and PG Diploma
  • MBBS degree to be registered with the medical council
  • MBBS
  • Post registration with the medical council
  • BAMS/BHMS
  • 2 years from the date of medical registration
  • MDS/Dentist
  • 5 years from the date of medical registration

 

Documents Required for Personal Loan for Doctors

Bajaj Finserv Personal Loan for Doctors requires minimal documentation, for your convenience. These documents are:

  • loan against property eligibility india

    KYC of authorised signatories

  • Medical registration certificate

Loan for Doctors - Fees and Charges

Bajaj Finserv offers the lowest doctor loan rate of interest. Read more about our doctor loan interest rate and charges below.

The following fees and charges are applicable on a personal loan for doctors:

 
Types of Fees Charges Applicable
Rate of interest 14 to 17% p.a.
Processing fee Up to 2 % of the loan amount (plus applicable taxes)
Document/statement charges

Statement of account/repayment schedule/foreclosure letter/No Dues Certificate/interest certificate/list of documents
Download your e-statements/letters/certificates at no extra cost by logging into customer portal – Experia.
You can get a physical copy of your statements/letters/certificates/list of documents from any of our branches at a charge of Rs.50/- (inclusive of taxes) per statement/letter/certificate.
Penal interest Any delay in payment of monthly instalment/EMI shall attract penal interest at the rate of 2% per month on the monthly instalment/EMI outstanding, from the date of default until the receipt of monthly instalment/EMI.
Bounce charges Up to Rs.3000 per bounce (inclusive of applicable taxes)
Document processing charges Rs.2000 + applicable taxes
Stamp Duty At actuals. (as per State)

Annual/Additional Maintenance Charges

 
Loan Variant Charges
Flexi Term Loan 0.25% plus applicable taxes of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.
Flexi Hybrid Loan 0.25 to 0.5% plus applicable taxes of the total withdrawable amount during initial tenor. 0.25% plus applicable taxes of the total withdrawable amount during subsequent tenor.

Foreclosure Charges

 
Loan Variant Charges
Loan (Term Loan/Advance EMI/Step-up Structured Monthly Instalment/Step-down Structured Monthly Instalment) 4% + applicable taxes on the outstanding loan amount payable by the borrower on the date of such full pre-payment.
Flexi Term Loan 4% plus applicable taxes of the total withdrawable amount as per the repayment schedule, on the date of such full pre-payment.
Flexi Hybrid Loan 4% plus applicable taxes of the total withdrawable amount as per the repayment schedule, on the date of such full pre-payment.

Part-Prepayment Charges

 
Borrower Type Time Period Part-Prepayment Charges
Not applicable if the borrower is an individual and the loan is availed on floating interest rate and not applicable for Flexi Term Loan/Hybrid Flexi variant. More than 1 month from date of loan disbursal. 2% + applicable taxes on part-payment amount paid.

Mandate Rejection Service Charge*: Rs 450 (Inclusive of applicable taxes)

*Charges will be levied if new mandate form is not registered within 30 days from the date of rejection of previous mandate form by Customer’s Bank for any reasons whatsoever.

Note: Additional cess will be applicable on all charges in accordance with the state specific laws.

How to Apply for Personal Loan for Doctors

You can apply for a Bajaj Finserv Personal Loan for Doctors online by following these simple steps:

  • 1

    Step 1

    Click here and fill out the online application form

  • 2

    Step 2

    Receive a confirmation call within 24 hours from our executive to know your approved loan amount

  • 3

    Step 3

    Submit the required documents with our representative

  • 4

    Step 4

    Receive the money in your bank account within 24 hours of document submission

Personal Loan for Doctors - FAQs

What are the end uses of physician personal loans?

A physician personal loan comes with no end-use restriction. If you are a practising physician, you can avail of collateral-free finance of up to Rs.42 lakh and use it for various personal needs, such as your children’s higher education, wedding, or even a holiday. Bajaj Finserv offers personal loans to doctors at affordable rates of interest and with flexible repayment options.

How is a physician personal loan different from a normal personal loan?

Physician personal loans are tailored especially for the unique needs of medical professionals. As compared to a standard personal loan, physical personal loans provide a higher quantum amount of up to Rs.42 lakh and a longer tenor of up to 96 months. Personal loans for physicians also come with additional benefits, such as free of charge part-prepayment facility.

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