Specialized loans tailored for professionals like.
Designed specifically for doctors, CAs, CS, and architects, Professional Loans offer customized financing to support the growth of your practice. Whether you're setting up a clinic, constructing an office, or purchasing equipment, these loans are tailored to meet your professional needs. With competitive interest rates, flexible repayment terms, and quick approval processes, you can easily expand your practice and enhance your services without the financial burden. Get the financial support you need to grow your professional career with ease.
Professional Loan Features
No collateral
Most personal loans are unsecured, which means you don't need to put down collateral like a cash deposit. Loan amount is based on credit history (repayment of previous loans).
Flexible repayment
You can choose a EMI repayment period/options that suits your needs, usually between 12 and 60 months.
Competitive interest rates
You can get customized interest rates on your personal loan.
Quick disbursal
Enjoy minimal and simple documentation and quick disbursal.
Regular reminders
You can receive alerts on your registered mobile and email ID about your EMI payments.
Build credit score
Affordable personal loans can help you build your credit score, especially if you're new to credit or have a low credit score.
Debt consolidation
You can use a personal loan to combine multiple debts into one, which can help you manage your finances better.
Flexible Usage
You can use personal loan for virtually any purpose; be it a wedding, home renovation, medical emergency or travel. There are no restrictions on how you spend the funds.
Eligibility Criteria for Professional Loan
- Nationality
Applicants must be Indian citizens.
- Age
25 to 65 years.
- Minimum annual income
Minimum income of Rs 1,00,000 - Business must be profit-making for 2 previous years.
- Loan Amount
Based on income and repayment ability. - Debt-to-income ratio
This ratio compares your monthly debt to your gross monthly income. Lenders prefer a ratio below 40%. - Minimum Work Experience
Doctors and Chartered Accountants : 4 years post qualification
Company Secretaries and Architects : 5 years post qualification
Physiotherapist : Min 5 years post qualification
Doctors, Chartered Accountants, Company Secretaries, Architects can apply for professional loan. - The eligibility criteria can vary between lenders, so it’s essential to confirm that you meet the requirements before applying for a professional loan from a bank.
Documentation for Professional Loans
- KYC Documents / Identification / Address proof
- Proprietor/Partner/Director
Aadhar Card / PAN card / Electricity Bill / Passport / Voter’s Id / Electricity Bill - Firm/Company
PAN Card, Address Proof, and Other Applicable Registrations
Degree Certificate / Certificate of Practice
Medical Council Registration Certificate (For Doctors)
Bank Statement of last 12 months
Address proof of Business – Telephone Bill / Electricity Bill / Rent Agreement
2 Passport size photographs - Financial Statements
Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited to verify income and tax payment history - Business Proof
Certificate of Incorporation, MOA, AOA, List of Directors, and Shareholding pattern for Pvt Ltd companies