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  • HDFC Bank Professional Loans

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  • 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.

    HDFC Bank Loans for Professionals – Features

    • The loan amount will be based on your credit history.
    • The documentation required is simple and minimal.
    • Processing fees are as low as 0.99%.
    • You can do a balance transfer of your existing professional loan to HDFC Bank at interest rates starting from 13.29%.
    • Doctors can enjoy special offers on the professional loan from HDFC Bank.
    • An optional credit protect plan is available at a nominal premium.

    Fees & Charges Associated with HDFC Bank Loan for Professionals

    Rack Interest Rate Range 12.50% to 15.65%
    Processing Charges Rs.2,359 to Rs.88,500
    Prepayment Charges
    • 7 to 24 months – 4% of principal outstanding
    • 25 to 36 months – 3% of principal outstanding
    • Over 36 months – 2% of principal outstanding
    Charges for Late EMI Payment Rs.200 onwards
    Cheque Swapping Charges Rs.500
    Cheque Bouncing Charges Rs.550
    Amortisation Schedule Charges Rs.200

    Eligibility Criteria for HDFC Bank Loans for Professionals

    Who Can Avail Professionals such as chartered accountants, doctors, architects, physiotherapists, company secretaries, etc., who are practicing or consulting
    Minimum and Maximum Age
    • 25 years and 65 years at the time of loan maturity
    Work Experience
    • Physiotherapist – At least 5 years post qualification
    • Chartered accountants and doctors – 4 years post qualification
    • Architects and company secretaries – 5 years post qualification
    Minimum Annual Income Rs.1 lakh
    Business Requirement Business should be earning profit for 2 previous years

    Documents Required for HDFC Bank Loans for Professionals

    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

    How to Apply for the HDFC Bank Loans for Professionals

    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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