Loan For Professionals

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Loan For Professionals

Doctors, chartered accountants, company secretaries and engineers can now get a customized loan for professionals with a high amount and at affordable interest rates.

Grow your business the easy way with loans for professionals because of as a professional By factoring in your professional degree and experience, you’ve spent several years to acquire/gain specialized skills. From managing various personal financial goals to professional commitments- you have to manage all in a limited time.

Professional loans come with simple eligibility criteria and minimum documentation requirements so that you get access to funds faster than regular term loans. Normally Banks offer Loan to Professionals without any collateral security.

Eligibility

ProfessionSalaried persons working in government, private or MNC companies and self employed professionals like Doctors, CA, CS, Architects
Eligible Age21 years to 60 years
Minimum Income for Loan EligibilityRs. 25,000 per month for salaried; Rs. 5 Lakh gross annual receipts for professionals
Work Experience Required3 years and above
Experience in Current CompanyVaries from 1 month to 1 year
Minimum CIBIL Score650
Maximum EMI as percent of Income65%

Documentation required for Salaried Individuals

  • Identity proof: Aadhar Card, Valid Passport, Valid Voter ID Card or a Valid Driving License
  • Address proof: Ration card/passport/telephone/rental agreement/electricity bill
  • 6 months bank passbook or last 3 months bank statement
  • Recent salary slip or current salary certificate.
  • Latest Form 16

Documentation Required for Self-Employed Individuals and Working Professionals

  • PAN Card: For Company /Firm/ individual
  • Identity proof: Passport/ Aadhaar Card/Voter’s ID card/Driving License/Pan Card
  • Address proof: Aadhaar Card/Passport/Driving License/ Voter ID-Card
  • Latest 6 months Bank Statement
  • Latest ITR along with computation of income, recent Balance sheet along with Profit & Loss a/c (CA Certified /Audited) for the last 2 years
  • Proof of continuation
  • Apart from these documents, other compulsory documents are – Sole Proprietorship Declaration Or Certified Copy of Partnership Deed, Certified original copy of Memorandum and Articles of Association (certified by Director) and Board resolution (Original)