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09 - Income Eligibility Norms - SEP (GPR)

Credit Norms: Based on Gross Professional Receipts
Illustration: Dr. Vinod, MS,FRCS, a leading surgeon having a practice in Pune wants to avail home loan
under Gross Professional Receipts Method. He has a car loan with balance tenure of 28 months paying an
EMI of Rs.26572. He wants maximum loan for tenure of 25 years @8.75% p.a.
Business Income Norms % Bus. Income Calculation Amt. (Rs.)
(Yearly)
Gross Receipts As per P&L 100% 30,00,000 30,00,000
Applicable Multiplier* As policy- 2.4 100% (2.4 x 30,00,000) 72,00,000
Sub-Total: Business Income per month (72,00,000/12) 6,00,000
Other Income Norms % Components Calculation Amt. (Rs.)
of Other Inc.
Gross As per latest Rent 100% 4,20,000 p.a (4,20,000/12) 35,000
Rental Agreement & B.S
Avg. of Int., Avg. of last 2 yrs. 100% Interest ( 4,46,000+5,44,000 ( 41,250
Div.& Com. as per ITR Y1=4,46,000 2 x 12
income Y2=5,44,000
Sub-Total: Other Income 76,250
Other income is 76,250
which is lower than Bus.
Other Income Capped at 100% of Business Inc. of 6,00,000 and 76,250
considered Income hence income
considered is 76,250
Mnthly Total Income = (Business Inc. + Other Inc.) (6,00,000 +76,250) 6,76,250
Loan Eligibility
Credit Norms % Income Calculation Amt.
Criteria Considered (Rs.)
FOIR Max. EMI as a % of 80% 6,76,250 (80% x 6,76,250) 5,41,000
Total Income
Less : > 12 mths. Vehicle Loan
Existing loan will be Obligation EMI of 5,14,428
EMI O/S other 100% Rs.26572 (5,41,000 - 26,572)
than BT loan
Max. Loan Max. EMI Payable ( 5,14,428 ( x 1,00,000 6,25,82,482
possible EMI per lakh 822**

* Multiplier Factor: For PG Doctors- 2.4; Other SEP: 1.6;
** EMI per lakh for tenure of 25 years @ 8.75% p.a. is Rs.822

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