Purpose of Loan:
Any personal purpose including purposes for meeting expenses of professional requirement.
Only the individual doctors and medical practitioners can avail this loan.
Quantum of Loan:
Amount equivalent to annual income or Rs.5,00,000 lakhs, whichever is less.
Rate of Interest:
Rate of interest of professional loan is PLR + 1.00 %
1.00% of loan amount, minimum Rs.500/ is considered as processing fee for the loan.
Security for the Loan:
Primary - NIL
Collateral - Not mandatory
Personal Guarantee of the Doctor is needed for the loan.
Repayment of loan can be in maximum 60 months equal monthly installments.
Mode of Repayment:
Through post dated cheques the repayment of loan can be done.
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