What is the criteria for Assisting Professional & Self Employed Persons ?
Loans to professional and self-employed persons include loans for the purpose of purchasing equipment, repairing or renovating existing equipment and / or acquiring and repairing business premises or for purchasing tools and / or for working capital requirements to medical practitioners including Dentists, Chartered Accountants, Cost Accountatnts, Engineers, Architects, Surveyors, or Management Consultants or to a person trained in any other art or craft who holds either a degree or diploma from any institutions established, aided, or recognised by Government or to aperson who is considered by the Bank as technically qualified or skilled in the field in which he is employed.
Whether both Term finance and working capital finance are sanctioned by Bank ?
Yes, advances can be granted by way of Cash Credit for working capital and by way of Demand / Term Loan for fixed assets, equipments etc.
Whether collateral security is required ??
No collateral/third party guarantee for loans upto Rs.1 lac.
What is the criteria for Assisting Professional & Self Employed Persons ?