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| Professional Loan Scheme |
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| Eligibility |
This Scheme is available for Doctors, Chartered Accounts& Cost Accountantetc. |
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| Margin |
| Minimum 25% margin required. |
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| Repayment |
| The repayment will be Maximum 180months. |
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| Security |
| Own Property, Machinery will be treated as primesecurity and if borrower had LIC Policies, assignment policies will be treated ascollateral security. |
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| Interest Rate |
| Interest Rate will be @11.75% for first 3 Years if borrower having I.T.Returns field as per books of accounts, other borrowers will be charged the interest @13.75% p.a. The Interest rate after completion of 3 Years will be linked with PLR. The PLR will be declared at Annual rest. |
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| Required Documents |
1. Machinery Quotation/Estimate of Construction/Copy of Agreement to Sale.
2. Deposit Margin in savings account.
3. Last 3 Years Financial statements with I.T.Returns.
4. Two Guarantors & their Income related documents& property related documents.
5. LIC policy & Borrower business related documents.
6. KYC documents of Borrower & Guarantors |
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| Loan Handling Charges |
1.Loanup to Rs50,000/- Rs.150/-
2.Loanabove Rs50,001/- to 1 lakh Rs.200/-
3. Loan above Rs.1 lakh Rs.200/- per lakh. |
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