Sundaram Home (SHFL) now offers loans to Professional for setting up their own offices.

THE PROFESSIONAL

A professional, in the context, shall mean and include only 

A practicing Doctor (to set up a clinic), or a consulting Chartered Accountant, an architect an advocate and a management consultant (to set up office for consultancy) 

THE MAXIMUM LOAN POSSIBLE

75% of the cost of construction/purchase of the unit OR Rs.1 crore Whichever is less, subject to assessment of repayment capacity by SHFL.

RATE OF INTEREST / FEE 

Please contact the nearest branch for the latest rates.

TERM OF REPAYMENT OF THE LOAN 

The term of repayment for this loan shall be a maximum of 10 years OR 65 years of age of the applicant/s, whichever is earlier.

SECURITY FOR THE LOAN 

• Equitable mortgage of the property financed 
• Additional security/ies as may be recommended by SHFL 

DISBURSEMENT 

The loan sanctioned will be disbursed subject to the conditions that

• The own contribution is fully invested by you 
• On satisfactory progress in the construction as determined by SHFL. 

REPAYMENT

Pre-EMI will be payable on the amount/s disbursed till the date of commencement of EMI at the rates applicable for the loan

The loan will be repayable by way of Equated Monthly Instalments (EMIs) on full disbursement, commencing the month following the month in which final disbursement takes place

MODE OF REPAYMENT

The loan shall be repayable by way of Equated Monthly Instalments (EMIs) by way of Post Dated cheques. The EMIs are calculated on Monthly Reducing Balance.

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