Personal Loan for Doctors for wedding

Planning a wedding might take years in order to make sure that you and your loved ones have a wonderful and memorable experience. Do everything you can to make it special for the couple, from the venue to the attire to the entertainment to the gifts to the furnishings and more they'll need to start their new life together. Pay for your dream wedding with the help of a personal loan for doctors of up to Rs. 80 lakh.

VENUE

VENUE

Elegant decorations are a must for a fairytale wedding. Choose a magnificent wedding location at an unusual location, and pay for décor that matches up to your vision for the big day.

TROUSSEAU

TROUSSEAU

You should feel and look your absolute best on your wedding day. Make an appointment with the best cosmetic artist in town, stock up on gold jewellery, and purchase a fancy lehenga or sherwani.

PHOTOGRAPHY

PHOTOGRAPHY

Do not let the beauty of your wedding day fade with the passage of time; save those memories with a timeless wedding album. A photo booth is sure to be a hit with your guests, too.

ENTERTAINMENT

ENTERTAINMENT

To get the party started, hire a hip DJ, and a live band to set the mood. Make sure that the youngsters are entertained as well as the adults by providing games for them to play.

GUEST HOSPITALITY

GUEST HOSPITALITY

Plan a visit to a luxurious resort or boutique destination to really wow your guests and make their stay one they will not soon forget. Hire top-notch chefs to cook up a feast fit for a celebration too.

3 unique variants of our personal loan for doctors

  • 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.

  • 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.

  • 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.

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Features and benefits of our personal loan for doctors

All you need to know about our Doctor Loan 00:46

All you need to know about our Doctor Loan

Watch this video to know everything about the features of our doctor loan.

  • 3 unique variants

    3 unique variants

    We have 3 unique variants – Term Loan, Flexi Term Loan, Flexi Hybrid Loan. Select the loan variant that suits you best.

  • No part-prepayment charge on Flexi variants

    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.

    Read about our Flexi Hybrid Loan

  • Loan of up to

    Loan of up to Rs. 80 lakh

    Manage your small or large expenses with loans from Rs. 2,00,000 to Rs. 80 lakh through an end-to-end online application process.

  • convenient tenures of up to 8 years

    convenient tenures of up to 8 years

    get the added flexibility to pay back your loan with repayment options ranging from 12 months to 96 months.

  • Money in your bank account in

    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.

  • No hidden charges

    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.

    Know about our fees and charges

  • No collateral or guarantor required

    No collateral or guarantor required

    Get the personal loan for doctors without providing collateral or security such as gold ornaments or property.

  • End-to-end online application process

    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.

  • *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.

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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 80 years*
  • CIBIL Score: 685 or higher
  • Medical registration: Degree to be registered with the medical council

Documents

  • KYC documents such as Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
  • PAN card
  • Medical registration certificate

*Age should be 80 years or less at the end of your tenure.

How to apply for a doctor loan

Video Image 00:54
   

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.

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 fee 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

*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 0.59% (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
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 Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s), which is(are) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by the following methods:
• For Term Loan: Deducted from the loan disbursement
• For Flexi Term Loan: Added to the first instalment
• For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
Legal and incidental charges Recovery for charges

Frequently asked questions

What is the Flexi Term Loan facility?

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.

Where can I find the loan account statement?

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.

What is the maximum loan amount that you can get with a personal loan for doctors?

Bajaj Finserv offers personal loans for doctors up to Rs. 80 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.

What is the difference between a Flexi Hybrid Loan and a Term Loan?

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.

How do I apply for a personal loan for doctors?

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.

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