How To Qualify For A Chartered Accountant Loan
A loan for chartered accountants is an easy way to raise finance for various personal and professional needs. These can range from working capital needs to purchasing a vehicle for the business. A loan for chartered accountants fulfils complex needs with its gamut of four loans. These loans include a personal loan, business loan, home loan and a loan against property. But, before applying for this loan, it is important to match the eligibility criteria.
Here are the eligibility criteria that you must fulfil before applying for a loan for chartered accountants:
1. You Need To Be A Qualified Chartered Accountant:
- To apply for this loan, you need to have appropriate educational qualifications and experience.
- You must also be working as a CA when applying for this loan.
- To prove this, you may be asked to submit your qualification certificates.
2. You Need To Be A Resident Of India:
- The applicant of the loan must be of Indian nationality and must be residing in India. NRIs and foreigners are not eligible to apply for this loan.
- As part of this criterion you have to submit proof of residence in the form of electricity bills and phone bills.
3. You Need To Be A Tax Payer:
- As an applicant of this loan you need to be a tax payer registered with the government.
- Submit a copy of your PAN card to satisfy this eligibility requirement.
4. You Need To Have Identity Proof:
- You need to have your identity registered with the government of India.
- This can be proved by submitting a copy of your Aadhar card, driver’s license or voter’s ID.
- If these documents are missing, it can hinder your chances getting a loan.
5. You Need To Have A Source Of Income:
- The applicant of this loan needs to have a source of income and must have proof to back it up. You can be employed with a company or be self-employed.
- This is most commonly verified by submitting bank account statements along with a letter of employment.
- This criterion helps the lender estimate your ability to repay the loan.
It is important to ensure that you meet these requirements before applying for a loan for chartered accountants. Adhering to these criteria will boost your chances of getting the loan and will also speed up the application process.
Once you are sure that you qualify for a loan, you can apply for one with Bajaj Finserv. Bajaj Finserv’s Loan for Chartered Accountants offers benefits like nominal interest rates, simple application procedure, line of credit and loan approval in 24 hours.