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Bajaj Finserv Doctor Loan – Interest Rates, Eligibility

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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

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