Loan / Limit for Professionals & Self-Employed

🎯 Purpose

To finance qualified professionals for:
✅ Purchase of equipment/machinery
✅ Setting up Clinic, X-Ray Lab, Pathological Clinic, Nursing Home, Drug Store (Chemist)
✅ Purchase of vehicles, computers, ambulances
✅ Construction / Renovation / Modernization of existing premises
✅ Any other eligible professional activity

✅ Eligible Professionals

Doctors
Engineers
Architects
Chartered Accountants
Company Secretaries
Cost Accountants
Advocates
Mechanics (Diploma Holders)

🏢 Eligible Borrowers

Individuals
Partnership Firms
Limited Companies

💰 Loan Amount

Up to ₹20,00,000 (under Priority Sector norms)
Higher amounts as Non-Priority, subject to bank norms.

🕒 Repayment

Maximum tenure: 10 years
Moratorium: Up to 12 months
Interest recovered monthly during the moratorium.
For limits, repayable on demand.

🔐 Security

✅ Primary Security:

Charge on movable assets purchased with bank finance.

✅ Collateral Security:

Equitable/registered mortgage of property as per bank norms.

✅ Insurance:

Insurance of assets purchased.
Comprehensive vehicle insurance with bank clause if applicable.

📄 Documentation Checklist

1️⃣ Duly filled Loan Application Form
2️⃣ Last 6 months’ bank statement
3️⃣ Passport-size photographs
4️⃣ Signature verification from existing banker (if not banking with us)
5️⃣ ID Proof (Passport/Voter ID/PAN Card)
6️⃣ Last 3 years’ ITR filed with IT Department
7️⃣ Latest salary slips (if applicable)
8️⃣ Employment details for last 3 years
9️⃣ Employer letter (preferred) or post-dated cheques for repayment security
🔟 TDS Certificate (Form 16) for salaried individuals (not required if satisfactory banking relationship exists for 6+ months)

✅ Benefits for Borrowers

✔ Flexible finance for professional growth
✔ Extended tenure with initial moratorium
✔ Helps build a professional practice with structured repayment
✔ Lower rates than personal loans for business expansion
✔ Bank support in setting up/expanding professional ventures