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Scheme For Professionals

Terms and Conditions
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: For Rural and Semi Urban areas: Rs 5.00 Lakhs and For Urban and Metro areas: Rs. 10.00 Lakhs
Maximum: Rs. 5.00 crores

Repayment

For Term Loan: Maximum 84 installments including Moratorium period. Interest to be served every month.
Working Capital-to be renewed every year.

Margin

For Cash Credit:
1. 25% against stocks & book debts up to 90 days only
For Term Loan/Demand Loan:
1. 30% on land and building
2. 25% on plant and machinery(new)
For Non-Fund Based Limits:
1. Cash margin on guarantee and L/C facility – 20% minimum

Scheme For Professionals : Interest Rates and Charges

Competitive pricing linked to repo rate/MCLR.

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