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Loans to Professionals for office for their Professional Practice
|Loans to Professional|
|Purpose||:||Purchase/ Extension/ Modification / Renovation of Commercial Premises for carrying on own Professional Practice & Purchase of Equipments.|
|Eligibility||:||Resident Indian Professionals. Loans can also be Sanctioned to Company or Partnership firm of such Professional.|
|Loan Term||:||10 Years.|
|Repayment Mode||:||Equated Monthly Installments (EMI) - Monthly Rest..|
|Security||:||1. Equitable/ Registered Mortgage of the Premise for which the Loan is raised.
2. Demand Promissory Note.
3. Personal Guarantee of Directors / Partners, as Applicable.
4. In case of Companies, Registration of Charges in R.O.C.
|Addl. Security||:||Hypothecation of Equipment, if financed|
|Rate Of Interest||:||Contact nearest Area Office for details on the Interest rate|