Hont Alan

Archive for the ‘Business’ Category

Personal loan can be availed by self employed people who are individuals, professional’s private concerns and partnership firms. The eligibility criteria vary as the category of self employed. The self employed individuals are those who are self-employed – Sole proprietors, Partners & Directors in the Business of Manufacturing, Trading or Services. Those self employed individuals should attain the minimum age of 21 years and the maximum age of Applicant at personal loans maturity is 65 years. They should have run the business continuously for 5 years. The minimum Annual Income of the applicant should be Rs. 1, 00,000 per annum. The individual self employed people should submit the same documents as of the salaried people. In addition they should submit the latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a charted Accountant. They should submit the Proof of continuation of Trade license or Establishment or Sales Tax certificate. The other Mandatory Documents like Sole Proprietary certificate or Certificate Copy of Partnership Deed, Certificate copy of MOA, AOA & Board resolution. The self employed Professionals are those who are self – employed Doctors, Chartered Accountants, Engineers, MBA Consultants, Architects, and Company Secretaries. They should attain the minimum age of 25 years and maximum age of Applicant at loan maturity is 65 years. They should be in business from 4 to 7 years depending on profession. The minimum Annual Income should be Rs. 100000 per annum.