Home Loan for Doctors: Overview
Bajaj Housing Finance offers Home Loans for doctors, starting as low as 8.60%* p.a. With this credit solution, professionals not only enjoy the features that come with our Home Loan but also benefit from tailored offerings.
What’s more, you can repay the loan amount comfortably by choosing a tenor of up to 40 years. Apply now and get your loan amount disbursed in as little as 48 Hours* from approval.
Home Loan for Doctors: Fees and Charges
The fees and charges applicable are given below:
Other Fees and Charges
| TYPE OF FEE | CHARGES APPLICABLE |
|---|---|
| Processing Fee | Up to 4% of the loan amount + GST as applicable |
| EMI Bounce Charges | Refer to the table provided below for the full break-up |
| Penal Charges | Click here to know about the penal charges |
Bounce Charge (break-up):
| Loan Amount | Charges |
|---|---|
| Up to Rs.15 Lakh | Rs.500 |
| Rs.15 Lakh – Rs.30 Lakh | Rs.500 |
| Rs.30 Lakh – Rs.50 Lakh | Rs.1,000 |
| Rs.50 Lakh – Rs.1 Crore | Rs.1,000 |
| Rs.1 Crore – Rs.5 Crore | Rs.3,000 |
| Rs.5 Crore – Rs.10 Crore | Rs.3,000 |
| More than Rs.10 Crore | Rs.10,000 |
Home Loan for Doctors: Prepayment and Foreclosure Charges
Individuals with Home Loans linked to floating interest rates pay no additional charges on the prepayment or foreclosure of the housing loan amount. However, this may change for non-individual borrowers and borrowers who have loans for business purposes.
For individual and non-individual borrowers with floating interest rate loans for non-business purposes:
| Particulars | Term Loan | Flexi Term Loan | Flexi Hybrid Loan |
|---|---|---|---|
| Time Period (in months) | >1 | >1 | >1 |
| Part-prepayment Charges | Nil | Nil | Nil |
| Full Prepayment Charges | Nil | Nil | Nil |
For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate loans:
| Particulars | Term Loan | Flexi Term Loan | Flexi Hybrid Loan |
|---|---|---|---|
| Time Period (in months) | >1 | >1 | >1 |
| Part-prepayment Charges | 2%* on part payment | Nil | Nil |
| Full Prepayment Charges | 4%* on Principal Outstanding | 4%* on the available Flexi Loan Limit | 4%* on Sanctioned Amount during Flexi Interest Only Loan Repayment tenor; and 4%* on the available Flexi Loan Limit during Flexi Term Loan tenor |
*GST as applicable will be payable by the borrower in addition to the prepayment charges, if any.
**Nil for Home Loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution.
Purpose of Loan
The following loans shall be classified as loans for business purpose:
- Lease Rental Discounting Loans
- Loans Against any Property availed for Business Purpose, i.e., working capital, debt consolidation, repayment of business loan, expansion of business, acquisition of business assets or any similar end usage of funds.
- Loan for purchase of Non-Residential Properties.
- Loan against security of Non-Residential Property.
- Top up Loans for business purpose, i.e., working capital, debt consolidation, repayment of business loan, expansion of business, acquisition of business assets or any similar end usage of funds.
*Terms and conditions apply.
