Professionals such as doctors, chartered accountants, architects, etc., can avail loans of up to Rs.50 lakh (up to Rs.75 lakh in some locations) from HDFC Bank to enhance their professional practice. Loans for professionals are available at rack interest rates of 12.50% to 15.65% and repaid in tenures ranging between 12 months to 60 months.
|Rack Interest Rate Range||12.50% to 15.65%|
|Processing Charges||Rs.2,359 to Rs.88,500|
|Charges for Late EMI Payment||Rs.200 onwards|
|Cheque Swapping Charges||Rs.500|
|Cheque Bouncing Charges||Rs.550|
|Amortisation Schedule Charges||Rs.200|
|Who Can Avail||Professionals such as chartered accountants, doctors, architects, physiotherapists, company secretaries, etc., who are practicing or consulting|
|Minimum and Maximum Age||
|Minimum Annual Income||Rs.1 lakh|
|Business Requirement||Business should be earning profit for 2 previous years|
|Proof of Identity||Passport/Aadhar Card/Voter’s ID/PAN Card/Driving License|
|Address Proof||Driving License/Passport/Aadhar Card/Voter’s ID/PAN Card|
|PAN Card||For individual/company/firm|
|Bank Statement||Latest 6 months|
|Qualification Proof||Proof of highest professional degree|
|Income Tax Return||Latest ITR along with balance sheet, computation of income, and profit & loss account audited or certified by a CA|
|Other Documents||Proof of Continuation/Sales Tax Certificate/Establishment Certificate/ Partnership Deed|
Application process for this loan is very simple, all you need to do is fill in a loan application form with supporting documents and submit it to the nearest HDFC Bank branch. You can also apply for this loan via the HDFC Bank website by submitting an online application form with a few mandatory details.
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