What is a Doctor Loan?

A doctor loan is a unique offering designed to help medical professionals meet various planned and unexpected expenses. It is a collateral-free mode of finance, with easy-to-meet eligibility requirements.

You can get a Bajaj Finserv Doctor Loan of up to Rs. 55 lakh by completing an online application that takes just 5 minutes.. The loan amount is transferred to you within 48 hours* of your application being approved.

*Terms and Conditions apply

Types of Doctor Loans at Bajaj Finserv

Flexi Term Loan

Let's say you get a Rs. 8 lakh loan with a term of 24 months. For the first six months, you pay the EMI on time. At this point, you should have paid back about Rs. 2 lakh plus interest.

Now, you need another 3 lakh rupees. You can take money out of your Flexi Term Loan account by signing in to My Account. Let's say that three months from now, you decide to pay off a part of your loan. Sign in to My Account once more and make the payment.

Your interest has been changed automatically all along, and you are only paying interest on what is now due.

A modern medical practice needs to be flexible and dynamic when meeting its expenses. A Flexi Term Loan is great for such expenses.

Flexi Hybrid Loan

This alternative variant performs the same functions as the Flexi Term Loan. The key contrast is that your EMI will only consist of the applicable interest throughout the loan's first period, which may vary based on the loan's tenure.

Click here for a detailed description of how the Flexi Hybrid Loan works.

Term Loan

This is a standard doctor loan. You obtain a loan for a specific amount, and the principal and interest are then divided into equal monthly payments.

Foreclosure of your term loan before the end of your loan tenure and partial repayment both carry fees.

How to Apply for a Bajaj Finserv Doctor Loan in India?

1.        Click on ‘APPLY on this page to open the online form.

2.       Enter your 10-digit mobile number and verify it with the OTP sent to your phone.

3.       Fill in your basic personal and professional details.

4.       Click on ‘PROCEED’ to visit the loan selection page.

5.       Enter the loan amount that you need and select one of our three doctor loan variants –Term, Flexi Term, and Flexi Hybrid.

6.       Choose the repayment tenure and click on ‘PROCEED’.

7.       Complete your KYC and submit the application.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents.

Eligibility Criteria for a Bajaj Finserv Doctor Loan

Any doctor who satisfies the four requirements listed below may apply for our doctor loan. To complete the application procedure, you will also require some basic documents.

These criteria are:

Nationality: Indian

Age: 25 years to 73 years*

CIBIL Score: 685 or higher

Medical registration: Degree to be registered with the medical council

*You should be 73 years or younger, at the end of the loan tenure. 

Documents Required for Bajaj Finserv Doctor Loan

• KYC documents: Aadhaar/PAN card/passport/voter’s ID

• Medical registration certificate

 Fees and charges Applicable on Bajaj Finserv Doctor Loan :

*Part-prepayment should be more than one EMI.

Repayment tenure

Bajaj Finserv Doctor Loans come with convenient and flexible repayment tenures that range from 12 months to 96 months.