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Enjoy Zero Charges on All Commonly Used Savings Account Services
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- MD & CEO letter about the bank
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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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With Professional Loans exclusively for
Doctors/CAs/Consulting Engineers/Architects/CS
by IDFC FIRST Bank
Set milestones for the future
With Professional Loans exclusively for Doctors/CAs/Consulting Engineers/Architects/CS by IDFC FIRST Bank
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Collateral-free funding up to ₹1 Cr with an extended tenor of 84 months
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Quick funding up to ₹30 lacs for Doctors and CA’s with minimum documents
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Attractive financing solutions for Salaried CA’s and Doctors
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Funding options also available for Hospitals & Diagnostic centers
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Collateral-free funding up to ₹1 Cr with an extended tenor of 84 months
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Quick funding up to ₹30 lacs for Doctors and CA’s with minimum documents
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Attractive financing solutions for Salaried CA’s and Doctors
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Funding options also available for Hospitals & Diagnostic centers
Professional Loans
Build, grow, and expand your practice without any worry with IDFC FIRST Bank professional loans. To fulfil your ambitions, we provide access to much-needed, collateral-free funds. Along with our industry-best interest rates, we offer many features such as funding up to ₹1 Cr, loan tenure up to 84 months, quick eligibility up to ₹30 lakhs, and many more.Read More
We also provide loans to salaried and non-individuals such as diagnostic centres and hospitals. Take the next big step for your practice with IDFC FIRST Bank professional loans.Read Less
Key Features
Collateral-free loan
up to ₹1 Cr
Instant loan up to ₹30 Lakhs
based on professional qualification
Extended loan tenor
up to 84 months
CALCULATOR
Professional Loan EMI Calculator
Dropline Overdraft
Are you facing unexpected expenses and need quick access to funds? Look no further!
A Dropline Overdraft Loan is a versatile financial product that allows you to access a pre-approved line of credit whenever you need it. This facility allows you to utilize amount up to an agreed limit. The withdrawal limit reduces every month till the end of the loan tenure. The interest is levied only on the utilized amount and not on the total amount borrowed. The amount can be deposited to the account anytime to reduce the outstanding balance.
Avail your Professional Loan as a Dropline Overdraft Facility and enjoy amazing benefits like interest only on the amount utilized, instant access to funds, collateral free funding up to 1 Crore, and much more.
Key Features:
1. 24/7 instant access to funds
2. Continuous access to a predetermined line of credit
3. Flexibility to repay the borrowed amount
4. Pay interest only on the amount utilized
5. Financial security against unexpected financial emergencies
ELIGIBILITY
Who can apply?
We have detailed our professional loan eligibility as below
Loan to doctors:
- Can be availed by doctors (MD, MBBS, BAMS, BHMS, MDS, BDS and Veterinary, Physiotherapist)
Loan to other professionals:
- Can be availed by Engineers, Chartered accountants, Company secretaries & Architects
Loan to non-individuals:
- Can be availed by Diagnostic Centers, Clinics & Hospitals
Documentation
Salaried Professionals
- Photo identity proof, address proof: As per RBI defined KYC guidelines.
- Education Proof- Degree certificate, Degree registration
- 3 Months Bank Statement
- Employee ID Card
- Residence Ownership proof
Self Employed professionals and Entities such as Hospitals, Diagnostic centers
- Photo identity and Address proof: As per RBI defined KYC guidelines
- Education Proof- Degree certificate, Degree registration
- Ownership proof of residence or office as applicable
- Business Proof: Shop Act License/MOA & AOA/GST registration/ITR, Partnership Deed.
Any one of the additional documents as per program
- Basis Banking - 1 year ITR & Computation, 12 months banking
- Or Basis Degree - 3 months banking
- Or Basis Income - 2 years ITR & financials, 12 months banking
FEES & CHARGES
Find out about our minimal and transparent fees & charges
FREQUENTLY ASKED QUESTIONS
What is a Professional Loan?
A Professional loan is a collateral-free loan offered to self-employed professionals such as doctors, chartered accountants, architects, etc. for the purpose of upgrading their skills, expanding their practice, purchasing equipment, etc.
Which profiles are eligible for a Professional Loan from IDFC FIRST Bank?
IDFC FIRST Bank Professional Loan is offered to a wide range of profiles, as below:
• Graduate Allopathic Doctors
• Post Graduate Allopathic Doctors
• BDS/ MDS
• Veterinary Doctor
• Physiotherapists
• BAMS, BHMS
• CA, CS, Architects
• Consulting Engineers
What is the range of loan amounts, minimum and maximum, that I can apply for?
The minimum loan amount one can avail of is ₹5 Lakhs and up to a maximum of ₹1 Crore.
What is the minimum and maximum Professional loan tenure offered?
Being one of the leading banks in the Professional loan segment, we are currently offering our customers a loan tenure from a minimum of 12 months up to a maximum of 84 months.
What are the benefits of availing a Professional Loan from IDFC FIRST Bank?
We have one of the best Professional Loan solutions. Some of our major features are:
• Collateral-free loan up to ₹1 Crore with an extended tenure of 84 months
• Attractive interest rates
• Quick loan up to ₹30 Lakhs with minimum documentation based on your professional qualifications
• Loan based on bank statements or basis your ITR documents
• Funding also available for salaried professionals
• Superior customer experience with easy documentation and a hassle-free digitized process
What are the different types of loans offered under Professional Loan?
Professional Loan can be availed in the form of a term loan or a dropline overdraft facility.
How does a term loan facility work?
Term loan is a type of credit facility that provides borrowers with a lump sum of cash upfront in exchange for specific borrowing terms.
Borrowers agree to pay their lenders a fixed amount over a certain repayment schedule with either a fixed or floating interest rate.
What is a Dropline Overdraft facility and how does it work?
Dropline Overdraft is another type of credit facility that allows you to withdraw funds from pre-approved credit limit as and when required.
With the dropline feature, the Overdraft limit gradually decreases over time until it reaches zero. You will be charged interest only on the overdraft amount utilized.
What is the eligibility criteria to apply for IDFC FIRST Bank Professional Loan?
To apply for IDFC FIRST Bank Professional Loan, you need to have a work experience of minimum 3-5 years basis your profile and you should be a minimum of 28 years of age and a maximum of 68 years of age at the time of loan maturity.
(If your parents are in the same profession, the age norm has been relaxed to a minimum of 23 years)
How do I apply for IDFC FIRST Bank Professional Loan?
You can apply for IDFC FIRST Bank Professional Loan via –
Our Website - https://www.idfcfirstbank.com/business-banking/loans/professional-loans
Our Mobile App - https://my.idfcfirstbank.com/digital-banking-app
Our Branches - https://nearme.idfcfirstbank.com/
Our Loan Centres - https://www.idfcfirstbank.com/support/asset-branch
Or you can call us on 1800 10 888 and speak to our representative
What is the loan application process?
Here's a step by step break down of our application process for Professional Loan:
• Submission of the Application Form
• Submission of required documents
• Document verification (mandatory verifications instituted to ensure validation of documents provided)
• Personal Discussion (for assessment & to understand the customer profile from a risk perspective)
• Loan sanction
• Loan Disbursement
How long does it take to disburse IDFC FIRST Bank Professional Loan?
IDFC FIRST Bank Professional loans are disbursed within 6-7 working days once the required documents have been submitted to the designated relationship manager.
Does IDFC FIRST Bank offer insurance for my Professional Loan in case of an unforeseen event?
At IDFC FIRST Bank, we aim to safeguard our customer's interest by offering the below insurance covers:
• Life Group Credit Protect - In event of death, disability or illness of the insured member, it will protect their families from the burden of repaying the outstanding loan to the financial institution.
• Health Protect plans - Covers medical expenses that arise due to an illness.
• Accident protect plan - Covers medical expenses pertaining to injuries like a broken limb, loss of a limb, burns, lacerations, or paralysis.
• EMI Protect Plan - Protection plan that offers insurance coverage on EMI in case you are unable to pay an EMI
How will my EMI be calculated?
The principal amount and the interest rate applied to the principal make up your EMI. The amount you borrow, the rate of interest charged, and the loan tenure are the variables that affect the EMI. If the interest rate increases, EMIs may alter.
You can calculate your potential EMI here
What are the various charges incurred?
Click on the link to know more about the charges.
How is Dropline Overdraft different from an overdraft facility?
Unlike a standard overdraft, a dropline overdraft is a revolving credit line, meaning you can borrow, repay, and borrow again up to your credit limit. The interest needs to be paid only on the amount utilized.
How is the interest charged on the borrowed amount for a Dropline Overdraft facility?
The interest is levied only on the utilized amount and not on the total amount borrowed. Interest is calculated daily and levied at the end of each month.
How does the limit drop for a Dropline Overdraft facility?
The withdrawal limit reduces every month till the end of the loan tenure. The limit can be renewed every year based on the repayment behaviour.
