| Eligibility |
Qualified professionals (other than Doctors as Doctors are covered under IB Doctor Plus Scheme) like Chartered Accountants, Architechts / Interior Decorators, Qualified caterers etc. in Metropolitan/Urban/Semi-urban areas, with minimum of 3 years experience.
The scheme is generally applicable only to resident Indians
(either individual or Registered Firm ) not above 60 years (SME Service Sector). |
| Amount of Loan | Max. Rs.5 lakhs with an overall ceiling of 12 months gross monthly projected income with the previous year’s income as indication.
Loan restricted to 50% of the eligible amount if experience is less than 3 years |
| Margin | Nil for loan up to
Rs.1 lakh.
For loan above
Rs.1 lakh- 20% |
| Interest Rates | Please see the Interest Rate link on home page |
| Repayment | Maximum
60 EMI with an option for holiday period of 6 months |
| Security | Assets created, out of the loan amount for the advance up to Rs.1 lakhs.
For limits above Rs.1.00 lakh,
Hypothecation of Equipments /
Assets purchased out of the loan where adequate primary / collateral security is not available, LIC policy in the name of the Professional to be assigned to the extent of shortfall in security |
| Salient Features |
For purchase of necessary tools / equipment ,vehicles (ambulance / jeep for office use), up-gradaton of existing equipments/
Renovation of Office building including Air-conditioners, furnishings, reference books, (Reimbursement for new vehicles purchased out of own sources within 6 months) |
