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)
Documentation charges Up to Rs. 2,360 /- (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, VAS charges, and documentation charges.
Prepayment charges Full prepayment
• 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 In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied.
Penal interest Delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment.
Stamp duty Payable as per state laws and deducted upfront from the loan amount
Mandate rejection service 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
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.
Switch fees Up to 1.18% of the loan amount (inclusive of applicable taxes)

(Switch fee is applicable only in case of switch of loan. In switch cases, processing fees and documentation charges will not be applicable.)

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 4.72% plus 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 3.50% per month 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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