Last Updated on August 1, 2022 by ayan zaheer
As professionals, chartered accountants often encounter the need for additional financing to grow and expand their practices. With the expanding financial market and customised segmentation of loans and advances, CAs can now avail dedicated funding to meet their professional financing needs.
Congruently, lending institutions also provide suitable financing to CAs to help meet their personal expenditure of high value. When it comes to suitable funding options, a loan for chartered accountants serves the varied monetary needs straight up.
These are customised loans tailored as per the funding needs of chartered accountants and come with attractive features at competitive rates. Availing of an exclusive loan for CAs can thus be more beneficial than going for any other funding option.
Top benefits of exclusive loans for chartered accountants
Type of loan availability as per requirement
Exclusive loans for chartered accountants come with dedicated financing segmentation, whereby one can avail funding for both personal and professional needs. For instance, when seeking lump-sum funding to meet personal funding requirements like marriage, travel, higher studies, and the likes, a dedicated personal loan is available.
Similarly, chartered accountants can avail business loans when seeking funding to expand their firms or make new investments in existing businesses. Their unsecured funding orientation makes them one of the top reasons why you should consider a chartered accountant loan for your firm.
Alternatively, CAs can also avail financing as loans against property depending on their monetary needs. Loans of up to Rs.50 lakh are available conveniently as secured advances against minimum eligibility requirements that these professionals need to meet.
An extended tenor flexibility
Depending on the type of financing you seek, repayment tenors on exclusive loans for chartered accountants can extend up to 144 months. However, such tenor extension is available for secured advances like loan against property for chartered accountant. In the case of unsecured advances like business loans and personal loans, sufficient tenor flexibility of up to 96 months is available, allowing them to make affordable repayment of advances. Make sure to go for a suitable tenor selection as the years of repayment chosen can significantly impact your immediate as well as long-term repayment liability. Use dedicated financial tools like a professional loan EMI calculator that should help assess your total repayment liability as well as the EMIs payable for convenient tenor selection.
Financing quantum as needed
As mentioned above, loans against property for chartered accountants are available up to a high financing quantum of Rs.50 lakh with reputed lending institutions. In the case of unsecured advances, eligible chartered accountants can easily secure funding of up to Rs.32 lakh to meet their required funding needs related to business or personal use.
Flexi loan facility
Some of the best financial institutions like Bajaj Finserv also extend the Flexi Loan facility, allowing a borrower to withdraw funds from the pre-sanctioned loan amount as and when needed. The facility not only allows flexibility of fund usage but also brings down the EMIs significantly with interest charged only on the withdrawn amount. The facility thus further makes a professional loan for chartered accountants more than just another funding option available.
The lender also brings pre-approved offers that help make the process of availing of finance hassle-free and less time-consuming. One can avail of these offers on a range of financial products, including personal loans, business loans, and loans against property. Check your pre-approved offer only with your name and contact details.
Depending on the lender selected, chartered accountants can also avail of an easy balance transfer facility that completes the new-age professional loan meaning for increased affordability.
Also, compare financial institutions to arrive at the most affordable financing option with competitive rates and charges, ensuring easy loan management and convenient repayment.
Read more: Are You A First-Time Home Buyer? Here’s What You Need to Know
