Surat Peoples Coop Bank Ltd. Loans for Self Employed and Professionals

By | March 30, 2011
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Purpose: This loan is for those who are self employed and professionals like Doctors, Lawyers, Teachers, Chartered Accountants, etc.

Eligibility: Any professional or self-employed person can avail this loan.

Margin: There is a margin of 20%.

Rate of Interest: The rate of interest of this personal loan is 10.5% per annum.

Repayment: The repayment period could be from 1 year up to 5 years. One may prepay the loan with no penalty, or pay more than your stipulated monthly installment at any time, depending upon availability of funds.

Other features: Nominal processing charges. No prepayment penalty.

Documents Required:

  • Latest 3 months Bank Statement of salary account.
  • Last 2 years ITR with computation of income / Certified Financials
  • Proof of Turnover (Latest Sales / Service tax returns)
  • Proof of Continuity current profession (IT Returns / Certificate of business continuity issued by the bank)
  • Any one proof of Identity
  • Proof of Residence (any one) Ration Card / Utility bill / LIC Policy Receipt
  • Proof of Office (any one) Lease deed / Utility bill / Municipal Tax receipt / title deed
  • Proof of Qualification (for Professionals / Government employees

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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