Toll Free Number
1800 258 44 55
1800 102 44 55
Scheme For Professionals
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Terms and Conditions
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Interest Rates and Charges
Scheme For Professionals : Terms and Conditions
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
Scheme For Professionals : Interest Rates and Charges
Competitive pricing linked to repo rate/MCLR.
