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Professional Loan @9.99% Onwards

• Get loan up to 1 Crore
• Low cost EMI with flexible tenure
• Balance transfer your existing loan
Enquiry Form
Professional Loan
Bank Name Min Interest Rate Processing Fee Max Loan (Lacs) Max Tenure (Month)
Axis Bank Ltd.
10.50%
1%
75
60
HDFC Bank Ltd
10.50%
1%
75
60
ICICI Bank Ltd.
10.25%
1%
75
60
IDFC First Bank
10.50%
1%
75
60
Kotak Mahindra Bank
11%
1%
50
60
YES Bank Ltd.
11%
1%
50
60
Aditya Birla Housing Finance Ltd.
12%
1%
50
60
Bajaj Finance Ltd.
13%
1%
50
60
Neogrowth
14%
1%
50
60
UGRO Capital
14%
2%
35
60
Deutsche Bank
15%
2%
50
60
Standard Chartered Bank
14%
2%
75
60
Bank Name Min Interest Rate
Axis Bank Ltd.

10.50%

HDFC Bank Ltd

10.50%

ICICI Bank Ltd.

10.25%

IDFC First Bank

10.50%

Kotak Mahindra Bank

11%

YES Bank Ltd.

11%

Aditya Birla Housing Finance Ltd.

12%

Bajaj Finance Ltd.

13%

Neogrowth

14%

UGRO Capital

14%

Deutsche Bank

15%

Standard Chartered Bank

14%

₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by Professional Loan Eligibility Criteria?

Are you planning to start practice & expand your business, Professional loan for doctors, chartered accountant, lawyers & architects. This type of facility requires minimal documentation & low processing fee.

Professional Loan Eligibility Criteria

Eligibility Criteria depends on several factors like repayment history, salary or business sales/turnover& Creditworthiness ...etc.

  • • Applicant age should be in-between 25 - 65 years of age
  • • Last 2-year business must be in profit
  • • Minimum income required 1 lakh per annum
  • • Resident of Indian

Note: - You can get up to 50 lakh as a maximum loan amount.

What are the factors generally affecting Professional Loan Eligibility Criteria?

There are top factors that generally affects professioeligibility criteria as given below: -

Low credit score: - Applicant with less than 650 range of credit score refer to bad credit & this happen when they fail to pay bills on time or EMI. Hence, due to low credit score your eligibility get affected./p>

Loss in business: - One of the major reasons behind affecting eligibility is backdrop in business, as its mandatory requirement your business meet profit in last 2 years.

What are the ways to increase Professional Loan eligibility?

To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.

Do payment on time: - This can be the best way to increase eligibility as lender will consider your past repayment history by checking your credit score. Therefore, by giving importance to do payment on time will rescue from affecting credit score as well as eligibility.

Avoid applying loan for multiple times: - Once, you have chosen your perfect lender to avail loan, make sure you apply with them only, by avoid applying loan for multiples it would help to enhance eligibility.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. PHOTOGRAPHS 2
  2. PAN CARD COPY
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR
  3. ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
  4. OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
  4. FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST RETURN LAST1 YEARS
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. ALL PARTNER SAVING A/C STATEMENT 6 MONTH
  12. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
  13. AGREEMENT TO SELL COPY
  14. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
  3. ADDRESS PROOF – COMPANY AND DIRECTORS
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
  7. 1 YEAR GST RETURNS
  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
  10. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
  14. AGREEMENT TO SELL COPY
  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

What is Professional Loan?

Loan for professional self-employed are offered by various Bank & NBFC’s at good rates & terms.

How to get the loan from bank?

If you are planning to get Professional loan for doctors, chartered accountant, lawyer or architect, choose your perfect banking partner through comparing multiple lenders & their offers. Once chosen contact their representative by visiting direct bank or enquiry through online site.

Who are eligible for Professional Loan?

These loans are specially designed for working professionals like doctors, chartered accountants lawyer & architects.

How much loan can I get through Professional Loan?

You can get up to 1 Crore in professional loan for setting up a business or expanding existing business.

What are the other charges applicable to Professional Loan?

  • Processing fee
  • Statement charges
  • Late payment fee
  • Stamp duty
  • Foreclosure charges
  • Part pre-payment charges

These are the charges applicable to professional loan.

What is the maximum tenure for Professional Loan?

The maximum tenure period to repay principal amount is 5 years.

Does Professional Loan need Collateral to get loan?

No, this loan gives you the flexibility of both secured & unsecured, hence pledging a collateral is not mandatory to get a loan.

How many years of practice do I need to get Professional Loan?

The average year of business should be above 5 years.

Related Topics

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