Bajaj Finserv Doctor Loan – Interest Rates, Eligibility
Bajaj finserv offers doctor loan upto 50 lakh with loan repayments period of upto 8 years. Check interest rates, documents, eligibility criteria & others.
Features & Benefits of Bajaj Finserv Doctor Loan
Loan amount of upto 50 lakh
loan disbursal within 24 hours
No collateral, minimum paperwork
Lower EMI by upto 45%
Loan repayment upto 96 months
Eligibility criteria for personal and business loans for doctors
- Super specialist doctors (MD/DM/MS) – Degree to be registered with the medical council
- Graduate doctors (MBBS) – Degree to be registered with the medical council
- Dentists (BDS/MDS) – Minimum 5 years of post-qualification experience
- Ayurvedic and homeopathic doctors (BHMS/BAMS) – Minimum 2 years of post-qualification experience
Note that ayurvedic and homeopathic doctors must own a house or clinic for a business loan.
Eligibility criteria for a loan against property for doctors:
- Super Specialist doctors (MD/DM/MS) – Minimum 2 years of post-qualification experience
- Graduate doctors (MBBS) – Minimum 2 years of post-qualification experience
- Dentists (BDS/ MDS) – Minimum 2 years of post-qualification experience
- Ayurvedic and Homeopathic doctors (BHMS/BAMS) – Minimum 2 years of post-qualification experience
Along with this, you should also be a resident citizen of India.
The documents needed to apply for personal and business loans for doctors are
- KYC documents
- Medical registration certification
The documents needed to apply for a loan against property for doctors are:
- KYC documents
- Medical registration certification
- Copy of property papers of the house to be mortgaged
Bajaj Finserv Interest Rate & Fees
The following charges are applicable on personal loans and business loans for doctors:
Types of fees | Charges applicable |
Rate of interest | 14% – 17% p.a. |
Processing fee | Up to 2% of the loan amount (plus applicable taxes) |
Penal interest | Any delay in payment of monthly instalment/ EMI shall attract penal interest at the rate of 2% per month on the monthly instalment/ EMI outstanding, from the date of default until the receipt of monthly instalment/ EMI. |
Document processing charges | Rs. 2,360 + applicable taxes |
Bounce charges | Up to Rs. 3,000 (inclusive of applicable taxes) |
Stamp duty | At actuals. (as per State) |
Mandate Rejection Charges | Rs. 450/- (Inclusive of applicable taxes) per month from the first month of due date for mandate rejected by customer’s bank until the new mandate is registered |