Loans to Professionals
Finance for purchasing professional equipment and expanding professional practice.
Purpose
For the purchase of professional equipment and tools required for professional practice.
Eligibility
Professionals including Doctors, Chartered Accountants, Advocates, Pathology Lab owners, and other qualified professionals.
Limit of Loan
Maximum 75% of the equipment or project cost quotation.
Basis of Loan
Borrower contribution: 25% of the equipment cost.
Repayment Period
Maximum 5 years.
Rate of Interest
Processing fees
As per bank policy. Currently nil.
Shareholding and Membership Contribution
2.50% of loan amount for limits of ₹1.00 lakh and above.
Security
Hypothecation of equipment purchased with bank finance.
Guarantors
Minimum two guarantors are required.
Documentation
- Duly filled prescribed application form
- Photo Identity & Residence Proof of the Applicant & Guarantor
- KYC documents of the firm
- Income proof: I.T. Returns for the last three years.
- Bank statements for the last 6 months.
Conditions Apply – Please visit our branch for complete terms and conditions.