Self–employed persons with professions of Doctors, physiotherapists, Chartered Accountants, Architects, and lawyers obtain personal loans. The lower amount of Rs. 1 lakh to a maximum of Rs. 1 crore is available if you are taking a personal loan for professionals.
Get as low as a 10% interest rate with a long repayment option. Read details about professional loans for quicker approval.
Personal Loan for Professionals
| Lenders | Loan Amount | Interest Rate | Tenure |
| Bajaj Finserv | Up to Rs. 55 lakh | 10% – 22% p.a. | Up to 96 months |
| HDFC Bank | Up to Rs. 75 lakh | 13.29% onward | 12 months – 60 months |
| IDFC First Bank | Up to Rs. 1 Cr | 10.50% onward | 12 months – 84 months |
| Axis Bank | Up to Rs. 50 lakh | 14.25% onward | Up to 60 months |
| Poonawalla Fincorp | Up to Rs. 50 lakh | 9.99% p.a. | Up to 60 months |
| Yes Bank | Up to Rs. 40 lakh | 10.99% p.a. | 12 months – 60 months |
Benefits of Professionals’ Personal Loan
Different benefits you may take with a professional’s personal loan.
Big Ticket Loan: Lenders take big ticket size personal loans up to Rs. 1 cr.
Instant Approval: The loan approval is instant for professionals such as doctors, CA, lawyers, etc.
Pocket-friendly Tenure: Repayment option much higher up to 96 months. Tenure may change from Bank to Bank.
Rate of Interest: Convenient interest rate available for professional persons.
Quick Disburse: Get your fund within 3 days. The loan will hit your bank account faster.
Best Professionals Loan in India
Bajaj Finserv Professionals Loan
- Professionals such as CA, Doctors take higher loan amounts up to Rs. 55 lakh.
- Disburse loans for professionals within 48 hours.
- Minimal document criteria with the online application procedure.
- The interest rate is pocket-friendly from 10% to 22% p.a.
- Repay loan with a longer period of up to 96 months.
HDFC Bank Professionals Loan
- Cover up to Rs. 75 lakh loan for professionals.
- Get a lower interest rate of 13.29% onward and the processing charge is 0.99%.
- Easy repayment option from 12 months to 60 months.
- Check out pre-approved offers if you are an HDFC Bank customer.
- Quick loan disbursement with an online application.
IDFC First Bank Professionals Loan
- Enjoy up to 1 cr loan with IDFC First Bank.
- Extend repayment loan duration up to 84 months.
- Pay interest on your utilized loan amount.
- An overdraft facility is also available from IDFC Bank.
- IDFC professional’s loan interest rate is 10.50% onward.
Also Read: Can I take personal loan if my salary is 12000?
Axis Bank Professionals Loan
- Benefits of up to Rs. 50 lakh loan for professionals.
- Collateral-free loan is available from Axis Bank.
- Doctors extend loan tenure up to 60 months.
- Chartered Accountants get up to 48 months of tenure.
- The interest rate for professionals is 14.25% onward.
- The processing fee is 2% of your approval loan.
Poonawalla Fincorp Professionals Loan
- Poonawalla sanction up to Rs. 50 lakh loan for a professional person.
- Flexible repayment tenure of up to 60 months.
- No other hidden fees are required.
- Professional loan available from Poonawalla with a 9.99% interest rate.
- Nominal professing fee up to 2% of sanction loan.
Yes Bank Professionals Loan
- Yes Bank provide up to Rs. 40 lakh loan with top-up funding.
- Enlarge your loan amount ranging from 12 months to 60 months.
- Attractive interest rate with 10.99% p.a.
- Transfer your existing loan to Yes Bank.
- Speedy approval process within 5 days of application.
Essential Criteria for Professional Loan
- Indian residence person only applies.
- Eligibility age starting from 23 to 65 years.
- Doctors, physiotherapists, Chartered Accountants, Architects, and Lawyers can apply.
- Professional per annum income should be Rs. 1 lakh or more.
- Your business should be profitable constantly for 2 years.
- A zero credit score or a 730+ score can apply.
Professional Loan Fees & Charges
| Processing fee | 2% of sanction loan amount + GST |
| Late charges | Bank will decide |
| Foreclose charges | Bank will decide |
Documents for Professional Loan
- Aadhaar Card Proof
- Pan Card Proof
- 6 months Bank Statement
- Last 2 years ITR File with Balance Sheet and Profit & Loss.
- GST File if you have
- 2 years Trade License copy
- Other required documents
FAQs on Professional Personal Loan
Who is the professional person?
Doctors, physiotherapists, Chartered Accountants, Architects, and Lawyers are the professional person. Banks provide special interest rates for professional persons. Self-employed professionals may take personal loans at a 10% to 14% yearly interest rate.
May I apply for a professional loan without a guarantor?
A guarantor or co-applicant will be applicable for a professional personal loan.
Is a foreclose charge applicable?
Foreclose charge will depend on Bank to Bank. Before the loan process, you should confirm with your lender.
How to apply for a professional personal loan?
Apply for a professional loan online from the official website. Give the details information about your profession and submit documents. After reviewing the documents, the Bank will contact you.