4 Smart Tips for Getting a Chartered Accountant Loan
Having been in the game for over five years, I finally decided to start my firm here in New Delhi, India. Undoubtedly, I worked day and night to reach the peak of my career, and it was time to start something of my own. However, even though I thought I had enough funds, they still weren’t much to complete the total project. This was when one of my employees told me about chartered accountant loans.
Trust me. It is one of the best financial help you can opt for as it helps you use the funds without being tied to an end goal.
What is a Ca loan?
It is a type of professional loan that is customized for chartered accountants keeping their professional needs into consideration.
This type of loan is a great assistance and helps expand or even work towards improving the quality of personal life.
So, basically, to make it easy for all the readers here, the loans for chartered accountants give access to the funds without having to meet the extensive eligibility criteria or fill out loads of paperwork. Moreover, they are much easier and faster than regular loans, and some providers even offer them within 24 hours.
Furthermore, there are convenient facilities such as flexible repayment, doorstep service, and easy part-prepayment options.
Here are four smart tips for getting a Chartered Accountant Loan –
1. Meet the eligibility criteria
To get these chartered accountant loans, you must be a CA with a Certificate of Practice of a minimum of 4 years. Further, it is also important to own commercial or residential property in an area where the lender operates. Apart from these two, you only have to submit basic KYC documents.
2. A good credit score
This crucial element gives the lender more confidence in your ability to repay the loan. Also, if you have a strong credit score, you can negotiate a favourable rate of interest with the lender or get a higher loan amount.
3. Borrow as your income permits
It is important to review your monthly income before applying for a loan. This is because it ensures that the monthly cash inflow is enough to make the payments efficiently. With this, it helps the lender to be sure that you are borrowing an amount that you can repay with ease.
4. Keep your documents ready
To receive a loan quickly, make sure you submit all the documents on time and don’t miss out on submitting any. If you falter in submitting the proper documents, the lender will have to get in touch with you and request that you rectify this. This back-and-forth generally hinders loan approval.
Therefore, these are the top ca loan factors to keep in mind when applying so that the whole process is completed smoothly without any kinds of interruptions.
How to get one?
Please don’t consider it a promotion or something like that, as I’m just sharing my personal experience for a better understanding of the readers. Meanwhile, here is a step-by-step guide on how I availed it.
> Download the official Bajaj Finserv app
> Sign up
> On the home page, you’ll see the ‘Loans’ section below the search bar.
> Tap on it and go to ‘Loan for Chartered Accountants
> Enter the required information
> You are good to go!
Trust me. I never thought that getting a CA loan would be this much easy. With just a few taps, I got the loan, and all the documents were collected from my doorstep only in New Delhi. For personal reasons, I cannot disclose my loan amount, but if you apply via this app only, keep in mind that the limit is up to Rs 55 lakh.