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 10% - 20% per annum
Processing fee Up to 2.95% of the loan amount (inclusive of applicable taxes)
Flexi Facility Charge Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to Rs. 999/- (inclusive of applicable taxes)

Flexi Hybrid Loan (as applicable below) - a fee will be deducted upfront from the loan amount:
• Up to Rs. 1,999/- (inclusive of applicable taxes) for loan amount less than Rs. 2,00,000/-
• Up to Rs. 3,999/- (inclusive of applicable taxes) for loan amount from Rs. 2,00,000/- to Rs. 3,99,999/-
• Up to Rs. 5,999/- (inclusive of applicable taxes) for the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/-
• Up to Rs. 6,999/- (inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/-
• Up to Rs. 7,999/- (inclusive of applicable taxes) for the loan amount of Rs. 10,00,000/- and above

* The above Flexi facility charges will be deducted upfront from the loan amount.

*Loan amount includes approved loan amount, insurance premium and VAS charges.
Prepayment charges

Full prepayment (Foreclosure)

Foreclosure can be processed post clearance of first EMIs

• 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 0.590% (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

Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows:

Scenario 1: If Loan is disbursed on 1st or post 10th of the month:
For Term Loan: BPI amount will be capitalised, i.e added to Principal amount on Due date / Deducted from disbursement
For Flexi Loans: BPI amount will be capitalised, i.e added to Principal amount on Due date / Added to first instalment

Scenario 2: If Loan is disbursed between 3rd and 10th of the month:
First instalment will consist of interest for actual number of days.
Legal and incidental charges Recovery for charges
Principal Holiday Facility Fees Principal Holiday (as applicable below) -

Up to Rs. 1,999 (Inclusive of applicable taxes) for loan amount less than Rs. 2,00,000.
Up to Rs. 3,999 (Inclusive of applicable taxes) for loan amount between Rs. 2,00,000 and 3,99,999.
Up to Rs. 5,999 (Inclusive of applicable taxes) for loan amount between Rs. 4,00,000 and Rs. 5,99,999.
Up to Rs. 6,999 (Inclusive of applicable taxes) for loan amount between Rs. 6,00,000 and Rs. 9,99,999.
Up to Rs. 7,999 (Inclusive of applicable taxes) for loan amount Rs. 10,00,000 and above.

Note-
The above principal holiday facility fees will be deducted upfront from loan amount.
Loan amount includes approved loan amount, Insurance Premium and VAS Charges.

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 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 42% 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 10% and 20% p.a.

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