National Helpline No1800 1700

IB PROFESSIONAL

Target Group

All professionals including Doctors, Engineers, Architects, Chartered Accountants, Company Secretaries, Designers, Management/ Financial Consultants, Cost Accountants etc. who are having work experience of at least two years with Valid Membership / Degree / License Holders and major part of their income is through profession

Purpose

For personal purpose such as setting up or renovation of office , purchase of consumer durables, household articles, to celebrate family functions, and other personal/household expenses etc.. However, utilization of loan proceeds for speculative purpose is prohibited.

Minimum Gross Income

1) Professionals having Minimum Annual Gross Income of Rs.7.50 lakhs during last two years will be considered. .

2) Professionals should be taxpayers for the last two years. It should be ensured that ITR has been filed on regular basis for last 2 years (on yearly basis).

Age

Minimum Age- 21 Years

Maximum Age- 70 Years

Margin

NIL

Facility

Term Loan

Eligibility

Maximum of 2.5 times of lowest Gross Annual Income during the last two years as per ITR subject to minimum NTHP (after proposed EMI) not less than 40%.

Ø Branch to ascertain from CIC and other sources that the applicant has a good credit history.

Ø Applicants should have recognized qualification in their field and should have requisite permission/license to work, wherever necessary.

Ø Branch to ensure that minimum 75 % of credit turnover to be routed through bank account.

Quantum of loan

Maximum loan ceiling is to be lower of the following

(i) 2.50 times of lowest Gross Annual Income during last two years

(ii) Rs. 30.00 Lakhs

Security

Personal Guarantee of Spouse or a person having net worth equivalent to the loan amount

Repayment

Term Loan- Maximum 84 equated monthly instalment.

( Last modified on Sep 22, 2025 at 08:09:16 PM )