Doctor loan interest rates and applicable 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 *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 • 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 Scenario 2: If Loan is disbursed between 3rd and 10th of the month: |
| Legal and incidental charges | Recovery for charges |
Loan application process for doctors
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Frequently asked questions
The processing fee for a Bajaj Finserv Doctor Loan may go up to 2.95% of the loan amount, inclusive of applicable taxes.
You will incur a charge of up to 4.72% (Inclusive of applicable taxes) on the part-prepayment amount made. There is no part-prepayment charge if you opt for a Flexi Term Loan or a Flexi Hybrid Loan.
If you miss an EMI payment, you have to pay a fee which is known as the bounce charge. Bajaj Finance charges Rs. 1,500 per bounce for every EMI missed. 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.
You can get a Bajaj Finserv Doctor Loan at a competitive interest rate between 10% and 20% p.a.
