Know How CAs can Fund their Personal Needs

Considering the recent tax implementation structure via the introduction of Goods and Services tax (GST), the demand for Chartered Accountants has witnessed a steady rise. CAs all across the nation serve as financial guides for the 6.8 Crore taxpayers (as of 2017-18). They assist individuals in –

• Tax planning,
• Making tax strategies,
• Auditing,
• Financial planning, etc.

Multiple leading lenders offer customised loans for professionals such as chartered accountants. These loans provide the necessary finances to meet varied personal financial goals such as a destination wedding, pursuing higher education abroad, going on exotic vacations, etc.

Taking into consideration, this multiple reputed NBFCs now offer their Chartered accountant loan that provides adequate funding to sponsor their varying expenses. While such loans come with a hefty credit amount, they require no mortgaging of asset and come at an attractive rate of interest that eases the repayment structure.

CA loans for personal financial requirement

The increased cost of living balanced against their potential expenditure in setting up a business often creates a monetary shortfall during funding. It is followed by unnecessary stress on one’s budget. In an attempt to help avoid this impending financial burden, lenders offer their personal loan for self-employed CAs that comes with a host of lucrative features.

Benefits of CA loans

Approaching leading financial institutions and availing their Personal Loan for Chartered Accountants ensures that individuals get to enjoy its borrower-friendly features of –

1. 1. Offers quick disbursal of the sanctioned loan amount within 24 hours of approval of the same.
   2. Requires no collateral.

• Provides flexible and convenient of loan repayment tenor ranging from 12 to 60 months.

• Offers affordable EMIs due to a competitive rate of interest on the advance.

• Comes with a hefty credit amount of up to Rs. 35 Lakh.

• Minimal charges on part-prepayment and foreclosure services.

• Nominal eligibility criteria.

• Having a COP that is active for at least 4 years, and

• Owning a house or an office within the operational range of the lender in question

• Minimum documentation

• Bank statements, 

• Photographs, 

• KYC documents and 

• COP certificate

Additionally, one can also have convenient access to his/her CA loan account via a customer portal. 

They also brings you pre-approved offer on several financial products that includes both unsecured credits like personal loans and business loans and secured advances like home loans. You can take a look at your pre-approved offer by providing a couple of essential details like your name and contact number. These offers ease the application process to avail financial aid that includes the following steps –

• Online mode

Step 1: Log on to the official site of the lender in question.

Step 2: Click on the online application form for the chartered accountant loan.

Step 3: Enter the needed personal and professional details.

Step 4: Furnish the required list of paperwork with the representative who approaches you for doorstep services.

The disbursal of the loan amount to the borrower’s account happens within 24 hours of validation of the documents. However, keeping in mind the convenience of the potential borrowers, lenders offer an alternative offline mode to apply for a Loan for chartered accountants in easy steps.

• Offline mode

Many a reputed lender enables you to apply offline by simply giving a missed call sending an SMS. The application process is followed by a representative of the lender reaching out to the individual and meeting their queries on the topic.

However, even though this personal loan for self-employed come with a host of such lucrative features for chartered accountant, one needs to make sure that they compare lenders before settling upon one. This informed decision ensures that they make the most of their availed advance. Also, know the top 3 emerging trends for CAs to succeed in the business.