Why you must consider interest rate before applying for a doctor loan

As a doctor, managing finances can sometimes be a challenge. Whether you are looking to set up a private practice, purchase medical equipment, or pursue further education, securing the right loan is essential. A doctor loan, tailored specifically for medical professionals, can make this process smoother and more affordable. The key is finding the best doctor loan interest rate that aligns with your needs.

So, if you are also looking to expand your practice or purchase new equipment, a Bajaj Finserv Doctor Loan can provide the financial support you need. And with the exclusive Loan Fest offer running from 1st March 2025 to 30th April 2025, you can unlock exciting cashback rewards on your loan disbursal.

Why interest rate matters?

As a doctor, your main focus needs to be on healthcare, not financial stress. High-interest rates can significantly increase the overall cost of your loan, making it harder to manage your finances. A doctor loan offering competitive interest rate can reduce monthly EMIs depending on your doctor loan eligibility, making it easier for you to maintain cash flow while investing in your career and practice. Here are a few reasons why it is important to consider interest rates when applying for a doctor loan:

1. Determines your repayment amount: A lower interest rate means lower EMIs (equated monthly instalments), making it easier to repay the loan without straining your finances. On the other hand, a high-interest rate could result in significant financial pressure

For example, if you take a Rs. 50 lakh loan at an interest rate of 10% for five years, your EMI would be approximately Rs. 1,06,000. But if the rate is 14%, your EMI jumps to around Rs. 1,16,000. That is Rs. 10,000 more every month—Rs. 6 lakh extra over five years.

2. Impacts loan affordability: Interest rates directly impact your loan affordability. A higher rate could mean you qualify for a lower loan amount, affecting your ability to fund bigger projects like clinic expansion or buying high-end medical equipment.

Bajaj Finance offers Doctor Loans with affordable interest rates starting at just 10%* per annum, ensuring lower EMIs and a stress-free repayment experience. With flexible repayment options, high loan amounts of up to Rs. 80 lakh, and fast approval, you get the financial support you need—exactly when you need it.

3. Affects total loan cost: The longer your loan tenure, the higher the total interest paid. A small difference in the doctor loan interest rate can lead to a big impact on the total cost.

Benefits of choosing Bajaj Finserv Doctor Loan

Now that you understand the importance of doctor loan interest rates, let’s explore why Bajaj Finserv Doctor Loan stands out:

1. Attractive interest rates: One of the biggest advantages of choosing a Bajaj Finserv Doctor Loan is its attractive interest rates starting at just 10% per annum*. This means lower EMIs, reduced financial burden, and better cash flow management—so you can invest in your practice without overpaying on interest. With Bajaj Finserv, you get a cost-effective financing solution tailored to your professional needs.
2. Higher loan amounts: Doctors often require large loan amounts to set up their practice, purchase equipment, or cover other professional expenses. Bajaj Finance offers loans with amounts that can go up to Rs. 80 lakh, depending on your eligibility, ensuring you have enough to fund your goals.
3. Flexible repayment tenure: Bajaj Finserv Doctor Loan comes with flexible repayment tenure of up to 8 years. Whether you prefer a shorter loan tenure with higher EMIs or a longer term with smaller EMIs, you have the flexibility to choose the plan that works best for your cash flow.
4. Minimal documentation and quick approval: Doctors are busy professionals, so the last thing they need is to spend time on excessive paperwork. Bajaj Finance streamlines the loan application process with minimal documentation, ensuring quick approval. The fast disbursal means you can get started with your project without unnecessary delays.
5. No collateral needed: The Bajaj Finserv Doctor Loan is unsecured, meaning you do not need to pledge any assets like your home or car as collateral.

Unlock extra savings with the Loan Fest offer

In addition to the attractive loan features, Bajaj Finance is offering an exciting reward for doctors. You can earn up to Rs. 3,000 cashback in your Bajaj Pay Wallet upon the successful disbursal of a doctor loan.

1. Eligibility: This offer is valid for the first 50 doctors in March 2025 and first 50 doctors in April 2025 who apply and get their loan disbursed.

1. Reward slabs:

• New customers: Cashback of Rs. 1,000 to Rs. 3,000 based on the loan amount.
• Existing customers: Cashback of Rs. 1,000 to Rs. 1,500.

1. Offer validity: The offer is valid from 1st March to 30th April 2025.

To qualify, complete the loan application on the Bajaj Finserv App or website and get your loan successfully disbursed during the offer period.

Apply for Bajaj Finserv Doctor Loan today and take your medical practice to the next level.