Professional Loan

If you are a self-employed professional, you invest your time and work hard to hone your skills to take your career to the next level. However, in many cases, apart from hard work and time, you also need funds to grow your career as a working professional. A professional loan can be really helpful in such a situation.

Financial institutions offer professional loans to self-employed professionals such as doctors, chartered accountants and architects to expand their businesses and meet their working capital needs. You can easily avail a professional loan at Bajaj Markets with minimal documentation and affordable interest rates.

Features of Professional Loan

Apart from meeting your professional needs, a professional loan should guarantee that your financial needs are taken care of swiftly and efficiently. Let’s have a look at some of the features and benefits:

• Easy Application Process: It is incredibly easy to avail a professional loan since the entire process is online. All it requires are a few clicks, and minimal documentation to apply for a professional loan. 

• Swift Disbursal: Once your details are verified, your professional loan is approved within 2 minutes. Post that, the loan amount is transferred to your bank account within 24 hours.

• Flexible tenure: You can repay your professional loan comfortably over a tenure of 12 to 60 months.

• No Collateral: Professional loans are unsecured. Therefore, you need not pledge any collateral in order to avail a professional loan.

Professional Loan Interest Rates

Doctors and CAs can easily avail a professional loan at Bajaj Markets to expand their businesses or to meet their working capital needs. The rate of interest applicable on professional loans along with the processing fee and a few other charges are as follows:

Types of Professional Loans

Loans for Professional can be majorly classified into the following two categories:

• Professional Loan for Doctors: Doctors can easily get professional loans of amounts up to ₹45 Lakhs with flexible repayment options and low EMIs. Doctor loans are approved quickly with minimal hassle. Loan processing for Doctor loans also does not require much paperwork.

• Professional Loan for Chartered Accountants: CAs can get a professional loan to meet their working capital needs and for a variety of other purposes, including business expansion, paying off rent and salaries, purchasing equipment, managing cash flow, and so on. CAs can also get a professional loan of an amount up to ₹40.5 Lakhs at Bajaj Markets.

Why Do You Need a Professional Loan

There can be several reasons to apply for a professional loan. A few of which are mentioned below:

• Professionals such as doctors might want to set up their clinics for private practice. This would require a considerable amount of capital to start, and hence a professional loan would be an ideal choice in such a case.

• A professional might already have a place to practise but may be looking to expand or upscale it. This can include renovations, looking for new locations, and employing more people. The funds required for these can be easily accessed with the help of a professional loan.

• As a professional, it is important to always stay up to date with the technological advancements and progress being made in your industry. A professional loan can be utilised to purchase new equipment or machinery and stay updated in your professional practice.

Eligibility Criteria for Professional Loan

The eligibility criteria to avail a professional loan at Bajaj Markets are quite simple. You may refer to the following pointers for details on the eligibility conditions you are required to fulfil in order to avail a professional loan:

• You must have a professional degree or diploma in your field.

• You must be aged between 25 and 65 years.

• You must be a resident of India.

• You must be a self-employed individual.

Additionally, depending on the type of loan (i.e., doctor or CA loan), you may be asked to meet a certain set of profession-specific criteria.

How to Apply for Professional Loan?

Applying for loans for Professionals at Bajaj Markets is fairly simple. All you need to do is follow the below-mentioned steps:

• Step 1: Visit the Professional Loans page on the Bajaj Markets website.

• Step 2: Click on “Apply Now”. A new page will open with a form in which you need to fill in a few details.

• Step 3: Enter some basic details like your income, type of employment and contact number.

• Step 4: Enter the loan amount you wish to avail and the desired tenure for the loan.

• Step 5: You can not customise your loan package by including some of the unique additional features such as the Finserv Protection Plan to protect your loan liability.

If your application is approved, the loan amount will be disbursed to your bank account within a few minutes.

Documents Required for Professional Loan

Here is a handy list of documents that you need to furnish at the time of applying for a professional loan:

• Proof of Identity (Passport, PAN Card, Aadhaar Card)

• Proof of Address (Ration card, Aadhaar Card, Utility bills)

• Copies of your professional degrees and diplomas

• Bank statement for your business for the last 6 months

• Profit and loss statements of your business

• Proof of ownership/lease of a property to set up the practice (if applicable)