VISAS AND TRAVEL
Application fees are a big portion of the costs of attending college. Add the total travel expenses, visa fees, and other paperwork work for an international course, and you will need a large sum.
COURSE FEES
Tuition will probably be covered by education loans, but a personal loan with a large amount and flexible repayment terms provides you the ability to pay for unanticipated costs.
LIVING EXPENSES
Your living expenses go well beyond rent. The costs of groceries, transportation, phone, internet, and other sundries should be included in your total outlays. These could cost you a significant sum of money.
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 Personal Loan for Doctors
Watch this video to know everything about the features of our personal loan for doctors
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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.
Pre-approved offers for new customers
We have pre-approved offers for both our existing customers and new customers. We only need your phone number to verify your identity.
If you are a pre-approved customer, you do not need to complete the application process in its entirety.
Consider it to be our green channel.
You might not require a loan at this time, or you might not have a pre-approved offer. There is still a vast selection of products available which you can choose from:
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Set up your Bajaj Pay Wallet
The 4-in-1 wallet that helps you transfer money or pay using your digital wallet is an EMI Network Card, a Credit Card, and UPI.
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Check your credit health
Two most crucial factors for you are your credit health and CIBIL Score. Get our Credit Health Report to be financially healthy at all times.
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Pocket Insurance to cover all your life events
We have more than 400+ insurance plans that start from Rs. 19. They cover all life events, like hiking, common diseases, losing/ damaging your car keys, and more.
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Set up an SIP for as little as Rs. 100 per month
Select from over 900 mutual funds from 40+ mutual fund companies, like Aditya Birla, SBI, HDFC, ICICI Prudential and more.
EMI Calculator
Plan your instalments better.
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.
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. |
Part-prepayment charges* |
4.72% plus applicable taxes on part-payment amount paid. |
Stamp duty |
At actuals (as per state). |
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 maintenance charges | Flexi Loan - 0.295% inclusive of applicable taxes on the total withdrawable amount. Flexi Hybrid Loan – 0.59% inclusive of applicable taxes on the total withdrawable amount during the initial tenure and 0.295% during the 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). |
*These charges are not applicable on the Flexi Term Loan and Flexi Hybrid Loan. Moreover, part-prepayment should be more than one EMI.
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.