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Scheme For Professionals

Eligibility

Professionals in any discipline.

  • should possess a professional degree (recognized University).
  • Minimum ITR - taxable income of 2.5 lakh
  • 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. 5.00 lacs ( For Rural and Semi-Urban areas)
  • Rs. 10.00 Lacs ( For Urban and Metro areas)
  • Maximum – Rs. 5.00 Crores

Repayment

  • TL – Max 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.

Rate of Interest

Competitive pricing linked to Repo rate/MCLR

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