Professional Loan or Doctor Loan
A professional loan is offered to doctors who are salaried, consultants, or owning a clinics, nursing homes, hospitals, or diagnostic centers, to meet their professional and personal financial needs.
Uses of Professional Loans:
- Investment in new ventures.
- Setting up new centers.
- Equipment purchase.
- Working capital.
- Inventory purchase.
- Expansion to scale up operations, marketing, and branding of healthcare services.
- Personal use such as education, marriage, and other professional or personal investments.
Merits:
- No collateral required.
- Only Interest repayment schemes available.
- Tenure of up to 72 months.
- Income tax benefits.
- Part-payment options and zero pre-closure charges available.
Document List for Professional Loan:
A. Preliminary Documents (Certificate Program):
- Aadhaar Card, PAN Card, and KMC Registration.
- Latest 6 months' bank statements.
B. Income Documents (Income Program):
- Aadhaar Card, PAN Card, and KMC Registration.
- Latest 6 months' bank statements.
- Any one of the following:
- Latest 2 years' ITR and financial statements.
- Form 26AS.
- Latest 3 months' pay slips
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