Given the exponential growth of India's economy, professional loans have become super popular. Professional loans are loans for self-employed individuals and business owners who need money for their operations or expenses. If you are an entrepreneur or self-employed, you need to know about the types of loans, interest rates, repayment time, collateral needs, and how to apply for one. In this blog, we shall delve into everything you need to know about professional loans. Who Is Eligible For A Professional Loan In India? To get a professional loan in India, one must meet certain eligibility criteria. Typically, an applicant should be between 25-65 years old, have a decent credit score, and a stable income source for at least three years. Some lenders might require a minimum annual turnover as well. So, before you apply for a professional loan, make sure you research lenders and ensure that you meet their eligibility requirements. Professional Loans’ Interest Rates One of the most im
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