Shobhit Sarin was looking to take a Chartered Accountant (CA) loan to expand his CA firm in Faridabad. He needed to borrow a substantial amount as he was finally ready to shift his office from his garage to a larger office space. He applied for a chartered accountant loan online and found the process to be quick and convenient. His loan was promptly approved and he was able to successfully shift and set up his new office.

Professional loan for CA can have many benefits. So ensure you consider it when you need a loan. Here are a few tips on how to apply for a professional loan and what are its benefits.

Applying for a CA loan

The world is becoming more and more digital with every passing day. Whether it is a bag of potatoes or a new car, we go online to make the purchase. So, when it comes to the financial products, the online space is not left far behind either. You can apply for the loan online. The easy online loan application process makes it all the more convenient.

  • Visit your lender’s official website.
  • Use the eligibility calculator to understand where you stand and how much you are eligible to borrow.
  • Fill in the professional loan for chartered accountant application form that is available on the website.
  • Check the details you entered for errors if any.
  • Hit the submit button.
  • Wait for the lender to get back to you.

The application process is actually as simple as this. So just log on and give it a try.

The benefits of taking a Professional Loan for Chartered Accountant

There are many advantages of opting for a CA loan. They include:

  1. No collateral: You don’t have to worry about running from pillar to post, trying to arrange collateral for the loan you need. The professional loans for chartered accountants are unsecured loans which are available without collateral. So if you need some urgent funds, you can simply make an application, submit the required documents and the loan amount might reach you in a couple of days.
  2. Flexible tenures: The chartered accountant loans are available for a minimum period of 12 months and a maximum period of 60 months. So, you can choose a repayment option depending on what your own preferences and financial liabilities are.
  3. Suitable EMIs: Next, we come to the EMIs. You can choose a repayment scheme that can help you clear the debt. Take your other financial commitments into consideration and then fix an EMI plan that would help you to repay the loan smoothly.
  4. Large loan: The Chartered Accountant loans offer high principals, at times as high as Rs.35 lakhs. So, make a budget and see exactly how much you need. Make an application accordingly. Remember to borrow only as much as you need, even if you are eligible for a higher amount.
  5. Lowered fees and charges: Another advantage of the CA loans is that the fees and charges are considerably lower. For instance, most of the loan providers do not charge any prepayment or foreclosure charges on the professional chartered accountant loans.

To sum it up

The professional loans for chartered accountants are tailor-made to suit the requirements of the CAs in India. So, if you need a loan for the betterment of your CA firm, do not hesitate to take a loan. As you can see, the loan has many benefits and it is also very easy to apply for such a loan. So what are you waiting for? Just log on and get going!

To know more about professional loan for CA, click here