Professional Loan

As the name suggests, this is for professionals to help them with business expansion and development expenses and for travel expenses for business purposes.

• This is a term loan.
• It is eligible for doctors, CAs, lawyers, Chartered Engineers, Architects, Individual, Proprietorships and Partnership Firms.
• It can be taken for the purchase of machinery, equipment, apparatus, computers, tools, vehicles, furniture, interiors and office equipment. This loan can also be used to finance foreign trips, seminars and conferences.
• The loan is for any individual doctor holding as least an MBBS or BDS degree and who is registered as a medical practitioner. He/She should be engaged in the practice of his/her profession for at least 3 years.

Charges and Limits
Loan Amount	Rs. 15,00,000 (Maximum) out of which for Foreign Travel maximum permissible loan is only Rs. 3 lacs
Margin	20%
Disbursement	Directly to vendors after collecting margin money
Documentation Charges	–
Primary Security	Hypothecation of assets acquired out of bank finance
Collateral Security	Suitable collateral security shall be insisted. For Loan up to Rs. 5 lacs, it may be relaxed on merits.
Repayment	Maximum 5 years (max holiday period of 6 months) in EMIs. Post dated cheques for next 12 months in advance.

For details of Processing Charges & Other charges, prospective customers are requested to contact nearby branches

• The applicant should have been in his profession for a minimum period of 3 years and earning profit for the last 2 years.
• Assembled computers are not eligible for finance.
• For foreign travel, only airfare, hotel expenses and seminar fees are eligible.

• Documentary evidence is required for professional memberships and partnership deeds.
• ABS (with Tax Audit Report for Gross revenue exceeding Rs. 10 lacs) and/or ITAO/IT Returns for last 3 years are required to ensure the repayment capacity and adequate DSCR of the applicant.
• The borrower must furnish full details of his/her other debts and their repayment terms.