The above rates mentioned are only for limited period. These rates may vary from bank to bank and rates would be solely decided at the discretion of the bank.
Professional Loans, simple unsecured Professional Loans available to small and medium enterprises for all your working capital needs Capital is a vital component for the success of commerce today. Irrespective of whether a firm is in proprietorship or big organization, finance holds the key to its development, and managing finance is certainly not a child's play. Keeping all this in mind, several institutions have come up with Professional Loans to help budding and existing entrepreneurs. Very frequently, every company has to face a make-or-break situation which calls for immediate investment to reap long term benefits. If one is not having the finances at that time, he might well opt for a Professional Loan which is designed specifically to fulfill urgent business quirements. These loans not only help in expanding a business, but also play a vital role in modernizing and improving small as well as medium scale business.
Documents | Salaried | Self Employed Properitorship Firm | Self Employed Partnership Firm | Self Employed Pvt Ltd / Ltd |
---|---|---|---|---|
Application Form With Photograph Duly Signed | ||||
Clear Pancard Copy, (Applicant & Co-Applicant) | ||||
Latest Residence proof (Applicant & Co-Applicant) | ||||
Latest Office Proof (Applicant & Co-Applicant) | ||||
Last 3 Months Salary-Slips | ||||
Last 12 Months Bank Statements | ||||
GST Certificate & GST 3B Copy last 1yrs | ||||
Form 16 / Income Tax Returns Of Last 3 Yrs | ||||
All Loan Sanction Letter If Any | ||||
Business Profile | ||||
Degree Certificate | ||||
Practice Certificate | ||||
Proof Of Business Existence ( Gumasta License , Sales Tax Certificate , Form 26AS , ) | ||||
Last 3 Years Income Tax Returns With Computation Of Income | ||||
Last 3 Years ITR with CA Certified / Audited Balance Sheet And Profit & Loss Account | ||||
MOA /AOA | ||||
Partnership Deed | ||||
Company Pancard Clear Copy | ||||
Shareholding Pattern On Letterhead | ||||
Sundry Debtor & Creditor List Last 1year |
The general factors taken into account while determining the Professional Loan are listed below:
1. Age (Min. 21 Year)
2. Maximum 58 age at time of closure of the loan for the salaried
3. Maximum 65 age at time of closure of the loan for the self employed
4. Total work / business Experience 3 yrs
5. Indian resident
Self Employed Individuals/Professionals
Proprietorship Firms
Partnership Firms
Private Limited Companies
1. Identity Proof
2. Address Proof
3. Bank Statement (Latest 12 months)
4. Last 3 yrs ITR along with other relevant docs like Balance Sheet, P&L, Audit Report (Certified by a CA)
5. Business proof
6. Degree & practice certificate
Please refer the complete list of documents on our website in the document section of Professional Loan
• Application
• Documentation
• Processing
• Sanctioning of the Loan
• Disbursement
The Process may vary from bank to bank in which they will do your verification of documents, residence, office, and a cibil check
CFPL Give you personalize solution & helps you to meet your financial requirement
It will very from bank to bank & also depends upon financial papers
Interest is calculated on a monthly reducing balance basis
No security/collateral/ guarantor is required
Depends upon a financial & credit history
Any individual who has the ability to repay the loan as per the bank standards residing in the same city can be taken as co-applicant. This requirement varies from case to case and our sales team would help you out.
The loan can be repaid through post dated cheques (EMI)
Yes you can pre-pay the loan after repaying a min. of 6 EMI's. Foreclosure charges would be applicable as per the banks term and condition.
The processing of the loans usually takes Approx. 10 working days after all the documents are submitte.