Professional Loan Services
Professional Loan Services
Professional loans are a type of credit facility which are offered to working professional loan services such as chartered accountants, lawyers, and architects can avail personalized loans without any collateral to upgrade business or purchasing equipment.
The loans are customized to suit the specific needs of such professionals and can be taken for multiple purposes. For example, scaling up operations, expansion of business premises, hiring employees,, purchasing equipment..etc.
There are various banks in India who offer professional loan to customers. If you wish to avail a loan you can compare the loan amount, rate of interest, and repayment tenure offered by different banks before availing a professional loan of your choice.
Professional Loan Eligibility
There are certain eligibility criteria you will have to fulfill in order to avail a professional loan which are given below:
- Should be a resident of India
- Minimum age of eligibility should be 25 years and maximum age of eligibility should be 65 years
- Doctors, Chartered Accountants, professionals, and non-professionals can apply for a professional loan
- Minimum income should be Rs.1 lakh per annum
- Business must be making profit for at least 2 previous years
Note: The eligibility criteria will differ from bank to bank. Therefore, you should always check whether you meet the eligibility criteria or not before applying for a professional loan from the bank.
