Purpose : General Purpose Loan for Professionals such as Doctors, Engineers, Advocates, Chartered Accountants, Architects etc. practicing in the Profession for establishment of their office for purchase of tools, books, furniture and fixture and Air conditioner for office use etc.

Eligibility :
a) Advocates who have minimum of five years practice are eligible.
b) Professional must have Rs.1.00Lac per annum income to the minimum duly authenticated/certified by a Magistrate/Distt. Judge/Bar President/Secretary.
Loan Amount : Rs1.00Lac.

Note: Good pay masters who has not defaulted in repayment of even a single installment shall be allowed half percent interest rebate at the time of adjustment of loan account.

Margin : 25%

Interest Rate : 16.00% P.A.

Repayment Period : Maximum 48 months in equated monthly installments.

Moratorium : Maximum one month from the date of sanction.

Security : Hypothecation of items purchased and third party guarantee of one Person. In case of loans to Advocates one of the guarantor must be a senior lawyer under whom the said advocate is practicing or has practiced.

Processing Fee :
(i) upto Rs. 25000/- No charges
(ii) Above Rs.25000 upto Rs.2.00 Lakh Rs.200/-
(iii) Above Rs.2.00Lakh Rs.200/- + Rs.150.00 per Lakh or part thereof subject to maximum of Rs.25000/-

Pre-Payment : Permitted without penalty.
Linkage Shares : 2.5% of the advance made.
Real Estate: Construction of commercial complex i.e., Banquet Hall, Educational Complex, Show room, Hospital, Nursing Homes etc.
(i) Upto Rs.25.00 Lacs 15.00%
(ii) Above Rs. 25.00 Lacs 16.00%

CHECK LIST (Professional Loan):

Documents to be submitted by the Applicant(s), Guarantor(s)
For Proposal:
1. Loan Application form.
2. Personal statement of borrower.
3. Personal statement of guarantor(s).
4. Two coloured recent passport size photograph of borrower and guarantor(s).
5. Copy of latest Income Tax Return (if he is tax payee).
6. Proof of age/address/PAN card/Mobile No./Telephone No./Passport/Driving Licence/Electricity bill (latest).
7. In case of loan to advocate – letter from President/Secretary of the Bar Association of Advocate Director of the Bank along with photocopy of license duly certified by competent authority.