BANDHAN BANK :- Personal Loan: Self Employed Professionals POLICY // DEC-22
Personal Loan: Self Employed Professionals
1)
Target Category:
- Self-Employed professionals includes - Doctor, CA, CS, CWA, BDS, BHMS, BAMS and Architects Only))
- Both NTB and ETB, with minimum business vintage of 1 year in same line of business
- Customer profile
o Sole proprietor/individual
o Individual partner
2)
Offering:
- Minimum Loan Amount – Rs. 50,000/- ; Maximum Loan Amount – Rs. 15,00,000/-
- For NTC, Maximum Loan Amount – Rs. 3,00,000/-
- Tenure – 12 months to 48 months (in multiples of 12)
- Rate of Interest based on CIBIL, as per rate chart
|
PL Lending
Rate |
CIC SCORE > = 750 |
CIC SCORE >=700<750 |
CIC SCORE >= 650 <700 |
|
SEP |
11.99 |
12.49 |
12.99 |
3)
Age Norm:
- For applicants, minimum age is 23 years and the maximum age on maturity of the loan have to be within 65 years.
- For Co-applicant, minimum age is 23 years and Max 70 years at the time of maturity of the Loan.
4)
Credit Bureau Score:
- Credit Bureau check is mandatory for both Applicant and Co-applicant
- Minimum credit score should be >=650
- If any one of the Financial applicant / co-applicants has credit bureau score, the case should not be considered as NTC.
- At the time of sanction, maximum running unsecured loan should not be more than 3 including Bandhan Bank retail loans (credit card, CD Loans not to be considered).
5)
Residence & Job
Stability:
- Minimum stability of 2 years at Current address/city – in case of rented residence.
- For self-owned residence – no stability required, shall be in same city for minimum 2 years.
- Job stability: Minimum 1-year vintage
6)
FOIR:
- 75% for all
- For Allopathy Doctors (MBBS and above, not BDS and others) max FOIR is 100%
7)
Banking
- 12 months bank account statement is mandatory
- MAB requirement: 1 time of the EMI
- Maximum 2 accounts can be clubbed for MAB calculations
- Minimum 1 debit and 2 credit transaction on monthly basis
- Not more than 3 inward cheque returns in the last 6 months
- MAB Calculations
o Average of balances on 5th, 15th, 20th and 25th date of the month
o For Overdraft accounts – average of unutilized limits as on 5th, 15th, 25th of the month
-
Minimum required Net
Profit/PAT: Rs. 2.5 Lacs for Metro and Rs. 2 Lacs for Urban/Semi Urban/Rural
-
Minimum 2 Years ITR is required
with computations. In case vintage is less than 2 years, 1-year ITR will do.
Loan amount to be capped at Rs. 3 Lacs, in case 1 year’s ITR is provided.
9)
Rental Income:
- Rent Agreement is compulsory along with 3 Months bank statement with rent credit
- Minimum salary income/business income should be at least 75% of the eligible income
- Rental Income should be in the name of applicant only
10)
Product Programme:
o DSCR (loan amount more than 5 Lac)
o ITR Surrogate (loan up to 5 Lac)
- Banking Surrogate
-
GST Surrogate
11)
Eligibility for -
Exiting PL Customer of the Bank
-
Minimum 9 months Clean Track.
-
Maximum once in SMA 0
-
Loan quantum – Max 1.5 times of
Original Loan Amount after obligation, of existing loans (if any)
12)
Documentation:
(A)
Self Employed
Professional (SEP):
-
Professional Degree Certificate
-
2 Years ITR with computations
is required. If case vintage is less than 2 years, 1 year ITR will do.
-
Current/Savings account
statement for last 1 year.
-
KYC Documents of the applicant
& Co-applicant (if any)
