If you are a working professional who wants to set up your own practice or you want to expand the scope of operations of your profession, you might be in need of some additional funds. These are customized loans that have been created, keeping in mind the special needs of that profession.
Since professional loan schemes are getting immensely popular these days, here are some of the most popular ones that you must know:-
These loans can be taken up by both salaried and self-employed engineers to fulfil their personal and professional financial requirements without putting all their savings to use. The maximum amount of loan that can be taken varies according to your need for a loan. Usually, the limit is Rs 25 lakhs for personal needs and Rs 30 lakhs for professional needs.
Loans to chartered accountants are usually given against their properties. These loans can be of various types like personal loans, home loan, vehicle loan, business loan and more. The purpose of the loan can be anything like the expansion of the CA practice, make an investment in property, renovation of home or other properties and even for a wedding.
There is a wide range of professional loan for doctors. These loans can be taken for multiple reasons like purchasing a clinic space, renovation of the clinic, setting up a clinic or purchasing special medical equipment for the clinic. These loans can even be taken for personal reasons like for the higher education of children, renovation of home, buying a house and more. The amount for a home loan for doctors can even go up to Rs 2 crores while for other types of loans, it is usually up to Rs 30 lakhs.
Just find the right one for you and go for it.