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Home >> Loan >> Retail Schemes >> Loan to Other Professionals
Loan to Other Professionals

 

ORIENTAL SCHEME FOR LOANS TO PROFESSIONALS 

Purpose

Business purpose

Eligibility  Criteria

  • Professionals holding a degree/diploma or who in the opinion of the Bank are technically qualified or possesses skills in the respective field like registered practicing lawyers, Architects, Chartered Accountants, Chartered Engineers, Journalists, Management Consultants, Software Engineers etc.

 

  • Individuals, joint borrowers, proprietorship & partnership firms and Companies

Loan

Amount

Rs.20.00 Lacs

Type of

facility

Term loan

Margin

25% of the assets financed

Rate of Interest (floating)

Click here to view rate of interest.

Note:

  1. Interest rates on Housing/Car & Vehicle loans shall be charged as per the rates applicable in respective scheme.
  2. 0.25% concession to women beneficiaries.

Process fee

Click here to view Process Fee.

Security

Hypothecation of assets purchased/Mortgage of premises, if purchased.

  • Loans Upto Rs.5 Lac: 50% of loan amount in the shape of collateral security and one personal guarantee, preferably of spouse
  • For Loans above Rs.5 lac: 75% of loan amount in the shape of collateral security and one personal guarantee, preferably of spouse.
  • In case the loan is required only for acquiring premises, no additional collateral security shall be insisted.
  • For purchase of car/vehicle security norms shall be as per car/vehicle loan scheme.

Repayment

Maximum 84 months including moratorium period not exceeding 6 months.

Prepayment Penalty

NIL

* For further details please contact the nearby branch or call at 1800-180-1235 & 0124-2340940