See Why Chartered Accountant Loans are Availed Frequently ?
TOPICS : Business
In today's scenario, when we aspire to lead a comfortable life and reach the crest of success, we need money for every single thing whether it's about acquiring a higher education degree, expansion of business or going for a vacation. For instance, a CA may relocate to a more prominent location which would offer him/her more opportunities to cater better his professional services and grow financially and intellectually. For this, a CA needs to buy a new property or take it on lease. Further new equipment purchase & employment hiring are other inevitable requirements if someone starts afresh.Many financial institutions offer personalized financial credits i.e. chartered accountants loan to help CAs meet these huge expenses which are incurred for personal and professional requirements. There are four types of professional loans for CAs which are as follows:These loans can be availed easily if you have all the verified documents ready and you are in good books of government. Different loans are readily available for different needs.
- Personal Loans
- Business Loans
- Home Loans
- Loans against Property
The reasons why these loans are easily available and availed frequently are as follows:
#1 - Providing Ample Financing Based on Your NeedsLoans such as personal and business loans are unsecured loans which offer financial help up to Rs. 35 Lakh. A personal loan can help a CA in many ways like for meeting the financial requirements for higher education, home renovation, for creating a squad of the expert team by hiring professionals for CA firm expansion. In the same way, home loans are particularly helpful in buying a new home and loan against property can be used for huge expenses for long-term needs.
#2 - Swift Processing And Cash DisbursalNBFCs can allocate an unsecured CA loan and sanction a secured one within 24 hours of period.
#3 - Cramped Eligibility CriteriaThe eligibility criteria for the CA loan :
- A Certificate of Practice that is active for at least 4 years.
- A house or office where the company works.
#4 - Collateral Is Not A RequirementBusiness loans and Personal loan for self-employed are unsecured loans or we can say they are collateral-free. So the lenders need not seek security to sanction these loans. Whereas the home loans and loans against property come under the category of secured loans which can be availed by mortgaging property. Note: CA Portal go through series of themes specially designed for Chartered Accountants. Make a difference in your online presence with our special themes for CA.
#5 - Customer-convenient repayment tenorsFor the Chartered Accountants loan, NBFCs like Bajaj Finserv generally give the following repayment tenors :
- Tenure of 12 to 60 months for Personal loans and business loans.
- Tenure of up to 20 years for Home loans and loans against propert
- Certificate of Practice
- KYC documents – Aadhar, PAN, Voter ID, Driving License, Passport and so on.
#6 - Property Quest And Dossier FacilityA facility such as property quest/search is available with secured loans which helps you find a home you are looking for. Another facility offered by NBFCs includes dossier services that help the homeowner understand and fulfil the financial and legal obligations.
#7 - Balance Transfer And Top-Up FacilityNBFCs offer the option of transferring an ongoing home loan from another loaner at a lesser rate of interest. One can also receive a high-value top-up loan while availing this facility. Some of the things like the interest rate on CA loan, the credibility of the lender, etc should always be kept in mind while availing for a loan and loan charges should always be compared before making a final decision. You can also google some important tips to get the lowest rate of interest on CA loan.
Keywords : CA firm Chartered accoutant CA loan