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PROFESSIONALS SCHEME

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PROFESSIONALS SCHEME

PROFESSIONALS SCHEME

SR.NO.	PARAMETERS	PARTICULERS
1	Group / Sector	For providing opportunities to professionally qualifiedpersons to set up or enhance their practice/ business or taking up self-employment for providing services to thevarious entities. This scheme is to assist self-employed professional persons,firms, associations and joint ventures of such professional persons having professional degree/diploma/certification in Engineering and Technical including software professionals/Business Management/ Media & Journalism/ Law/ ForeignLanguage/Computer/ Animation/ Designing/ Finearts/Certified Tax Return Preparers (TRPs)/ CA/ ICWA/ CS etc.
2	Eligibility	Professionally qualified persons who have obtained the requisite degree/ diploma/ certification approved by UGC/ AICTE/ Central or State government/ approved certifying agency by virtue of which they become entitled to practice that profession. Individual, Proprietorship/ Partnership firms, Limited Liability Partnerships (LLPs), Private / Public Ltd. Cos. etc. For constituents other than individuals in which majority stake holding of the qualified professionals as mentioned aboveexists. Units/ Individuals must have valid license to conduct such business/professions by Municipal/Local Administration
3	Type of Facility	Term Loan: Need based Overdraft: Limit upto Rs. 25.00 lac Maximum Cumulative Exposure: Rs. 2.00 crore
4	Quantum of Exposure	For Term Loan: Maximum – Need based For Overdraft: Maximum overdraft limit up to Rs. 25.00 lac. Maximum Cumulative Exposure: Rs. 2.00 crore
5	Margin	25% Wherever land is also financed as part of cost of project in such cases minimum prescribed margin against cost of the land shall be 25% of the cost of the land. Further, the quantum of finance against cost of the land shall be restricted to 50% of the sanctioned loan amount.
6	Rate of Interest	As per bank policy.
7	Repayment/ Moratorium	Term Loan: Maximum repayment period up to 120 months including moratorium period of maximum of 12 months from the date of first disbursement. Overdraft limit will be subject to annual review.
8	Primary Security	Hypothecation of entire equipments, Current & Non-current assets of the unit. Mortgage of Project Land with existing / future construction thereon.
9	Collateral Security	. To be covered under any Credit guarantee Scheme OR Minimum 100% Collateral Security in the shape of immovable property/liquid security. However, no collateral security will be insisted upon wherever the land & building is available for Primary security to the Bank.

Note : Conditions apply. The information provided above is only illustrative and not exhaustive.

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