Personal Loan Scheme for Professionals

Beneficiary Individuals practicing as professionals such as doctors, advocate, chartered engineers, chartered accountants, company secretary, architects, I.T professionals, interior designer, academicians running coaching centers. Age Limit - minimum 21 years and maximum 60 years.
Purpose Credit facility for meeting out socio-economic needs.
Loan Limit 1.5 times of Net Annual Income or Rs.5.00 lac, whichever is less.
Rate of Intt As decided by bank from time to time.
Margin No margin money required.
Prepayment Option Borrower can make the part pre-payment of the loan. No penalty will be charged.
Repayment Period Maximum 7 years.
Collateral Security The collateral security can be in the form of Land/building, NSCs/KVPs/LIC Policy and bank deposits.
The valuation of the collateral security shall be 150% to the loan amount. In addition to that one guarantor known to the bank will also be taken. 
Area of Operation Loan shall be advanced in the area operation in the Muktsar district.