Scheme For Professionals

Eligibility

Professionals in any discipline:

• Should possess a professional degree (recognized university)
• Minimum ITR - taxable income of Rs. 2.5 lakhs
• Minimum experience of 3 years in their respective fields. In case of CA/CS/ ICWA 3 years from the date of certificate of practice
• Minimum bureau score of 700

Purpose

• WC requirement
• Purchase of equipment (expanding/renovating)
• For construction of office premises on self-owned land
• For acquisition of ready built new office premises
• NFB facilities

Age of the borrower

• Minimum age – 21 years
• Maximum age - 65 years at the time of maturity of loan

Nature of Facility

• Term loan/demand loan/cash credit/non-fund based facilities

Limit

• Minimum: Rs. 5 lakhs (For rural and semi-urban areas)
• Rs. 10 lakhs (for urban and metro areas)
• Maximum: Rs. 5 crores

Repayment

• TL: Maximum 84 instalments (moratorium period)

Margin

For Cash Credit:

25% against stocks & book debts up to 90 days only

For Term Loan/Demand Loan:

30% on land and building

25% on plant and machinery(new)

For Non-Fund Based Limits:

Cash margin on guarantee and L/C facility – 20% minimum

Competitive pricing linked to repo rate/MCLR.