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Apply for a doctor loan with competitive interest rates on Bajaj Markets
Doctor loan interest rates on Bajaj Markets start at an attractive 11% p.a., offering affordable financing options tailored to medical professionals. These low rates help doctors easily meet their personal and professional needs, from upgrading clinics to expanding their practice, while keeping repayment manageable.
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Here are the processing fees for a doctor loan and other applicable charges on Bajaj Markets:
Types of Fees |
Applicable Charges |
|---|---|
Processing Fees |
Up to 3% of the loan amount + applicable taxes
|
Foreclosure Charges |
Up to 4.72% of the outstanding loan amount (Inclusive of taxes) |
*Disclaimer: The mentioned values are subject to change at the lender’s discretion.
Here are some things that may majorly influence the doctor loan interest rates offered to you:
A higher CIBIL score, usually 750 or more, demonstrates strong financial responsibility, which can lead to lower interest rates. Lenders favour applicants with a good credit history.
Lenders assess your income and overall financial stability to gauge repayment capacity. Doctors with higher or more stable incomes are often offered better rates.
The loan amount and repayment tenure directly influence the interest rate. Larger loans or longer repayment periods may result in higher rates due to increased risk for the lender.
Each lender has its own criteria and risk assessment. Depending on the lender’s policies, the offered interest rates for doctor loans can vary.
Interest rates are influenced by current market trends and economic factors, such as inflation and changes in RBI’s monetary policy
Doctors with more years of practice or a well-established career may receive lower rates as they are seen as lower-risk borrowers
Existing customers of a lender, such as those with savings accounts or previous loans, might benefit from lower interest rates. The long period of maintaining a banking relationship develops trust in your repayment capabilities, reducing the risk of default for the lender.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
On Bajaj Markets, you can get up to 96 months to repay your doctor loan.
The interest charged on a doctor loan is calculated based on the loan amount, interest rate, and loan tenure.
Doctor loans may have lower interest rates than other unsecured loans. This is because lenders consider doctors to be low-risk borrowers with a steady income and high repayment capacity.
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