A professional loan is a special category of personal loan, which is offered to professionals like doctors, chartered accountants, lawyers, etc. The loans are customized to suit the specific need of such professionals and can be taken for multiple purposes. For example, scaling up operations, expansion of business premises, hiring new employees, purchasing equipment, etc.
The usage terms of the loan are not just restricted to meeting expenses towards professional goals, but it can also be used for meeting personal expenses like weddings, vacations, house renovations, etc.
Compared to normal personal loans, the professional loan comes with easy eligibility criteria and a quick application approval process. Such loans are also offered to eligible applicants at preferential rates and terms*.
Professional loans come with numerous benefits that make it a preferred option for professionals. Some of the benefits include:
The eligibility for loans for professionals is similar to personal loan eligibility. The basic eligibility criteria at SMFG India Credit include:
You can use our personal loan eligibility calculator to check your eligibility and the loan amount you may be able to borrow as per your income and EMI payment capacity. Please note that final eligibility will be determined based on a number of factors including SMFG India Credit’s policy at the time of loan application.
The following are the documents required to avail of a professional loan:
While applying online, you can upload the scanned copies of all documents.
The professional loan interest rate for doctors, chartered accountants starts as low as 11.99% per annum. And, the processing fee ranges between 0% to 6% of the loan amount.
There are multiple loan options available to professionals, but the professional loan stands apart as it is customised as per the unique needs of the professionals. It will help to meet all types of expenses- whether it is for business or personal reasons.
*Terms and Conditions apply. Loans are provided at the discretion of SMFG India Credit. Co. Ltd. (Formerly Fullerton India Credit. Co. Ltd.).
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