A Complete Guide on Chartered Accountant Loan
Chartered accountant loans are a type of professional loans customized to suit chartered accountants. This suite of loans includes both secured and unsecured advances, tailored with specific features and benefits to help a CA meet his/her professional or personal requirements. Numerous financial institutions including NBFCs offer loans such as Bajaj Finserv CA loans, available even with the online application.
A loan for a chartered accountant is a great financing option that provides you with funds to meet a diverse range of personal and professional requirements. A borrower can use the substantial loan amount to meet necessities like your child’s overseas education, wedding or a medical emergency.
Why avail a CA loan?
Chartered accountant loans provide you with access to utilize funds without having to meet extensive eligibility criteria and documents needed during application. Hence, this credit facility is more secure to avail than regular advances. Leading lenders also disburse offer quick approval and disbursal of the sum along with flexible repayment tenors and attractive chartered accountant loan interest rates.
Hence, if you are a chartered accountant, it makes more sense to apply for a Bajaj Finserv CA loan for a host of borrower-friendly features.
Eligibility requirements for CA loan
Before you apply, it is essential to check whether you qualify for the advance. This will help you to understand if the CA loan is best for you. A chartered accountant must meet these criteria –
- An active certificate of practice (CP) for at least 4 years.
- The applicant must be a resident of India.
- Must own an office or a house.
- The applicant should be an employed individual with a steady source of income.
If you meet these criteria, you can successfully apply for a Bajaj Finserv CA loan.
Documents required for a CA loan
You can apply for a chartered accountant loan by furnishing these following documents –
- KYC documents like PAN card, Aadhaar card, or Voter ID card.
- Identity proof.
- Proof of address.
- Passport-sized photograph.
- Income proof.
- IT returns, profit and loss balance sheet.
A lender requires these documents to verify the identity of the applicant and his ability to repay the CA loan on time. Arranging the documents for CA loan on time will help you to save time during the time of loan application.
Things to keep in mind when applying for CA loan
If you are applying for a chartered accountant loan, follow this guideline in mind –
- Weigh your options
Compare the chartered accountant loan interest rates of different lenders and pick one that offers the best deal. Choose a lender that provides not only ample funds but also instant approval with fast disbursal.
This is because, if you are in urgent need of funds, ensure that your lender can provide you with instant applicant approval and quickly disburses the loan amount.
- Look for flexible repayment option
To make loan procurement easier and manage your finances quickly, reputed lenders offer greater flexibility. You get a flexible repayment tenor, competitive chartered accountant loan interest rates and benefit from lower EMIs.
Apply for a CA loan
Follow these steps to complete the application procedure –
Step 1: Online form filling
Fill in the application form with your personal and employment details.
Step 2: Specify the loan details
Select the loan amount and the repayment tenor as per your convenience.
Step 3: Approval and disbursal
Get your loan approved within minutes and receive the sum in your bank account within a day.
Following these 3 easy steps, you can submit your Bajaj Finserv CA loan application without any hassle. Plus, before applying for credit, ensure that it fulfils your financial requirements affordably.