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IB Professional Special
Eligibility Qualified professionals (other than Doctors as Doctors are covered under IB Doctor Plus Scheme) like Chartered Accountants, Architechts / Interior Decorators, Qualified caterers etc. in Metropolitan/Urban/Semi-urban areas, with minimum of 3 years experience.

The scheme is generally applicable only to resident Indians

(either individual or Registered Firm ) not above 60 years (SME Service Sector).
Amount of LoanMax. Rs.5 lakhs with an overall ceiling of 12 months gross monthly projected income with the previous year’s income as indication.

Loan restricted to 50% of the eligible amount if experience is less than 3 years
MarginNil for loan up to Rs.1 lakh.

For loan above Rs.1 lakh- 20%
Interest RatesPlease see the Interest Rate link on home page
RepaymentMaximum 60 EMI with an option for holiday period of 6 months
SecurityAssets created, out of the loan amount for the advance up to Rs.1 lakhs.

For limits above Rs.1.00 lakh,

Hypothecation of Equipments / Assets purchased out of the loan where adequate primary / collateral security is not available, LIC policy in the name of the Professional to be assigned to the extent of shortfall in security
Salient Features For purchase of necessary tools / equipment ,vehicles (ambulance / jeep for office use), up-gradaton of existing equipments/

Renovation of Office building including Air-conditioners, furnishings, reference books, (Reimbursement for new vehicles purchased out of own sources within 6 months)

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