If you are a CA professional, then you know the fact that the CA loan interest rate in our country is quite lucrative. Therefore, professionals require this type of financial help in order to expand their current business or even increase the quality of their overall life.
A few months back, I planned to start my own practice after serving for over a decade in a private firm in Gurugram, Haryana. When I began executing the plan, I had no idea that it was a costly affair.
What is a CA loan?
As the term suggests, a Chartered Accountant Loan helps these professionals expand their business or improve their overall personal life quality. In addition, this financial help gives easy access to the funds without having to meet extensive eligibility criteria or fill out tons of paperwork.
When these professionals go for these types of loans, they are offered convenient facilities. They include doorstep service, flexible repayment as well as easy part-prepayment.
What are the 3 steps to get the best personal loan for chartered accountants?
1. CIBIL Score
To get the best deal, it is important for you to ensure that there is no default or delay on the repayment of loan instalments. Therefore, banks/financial institutions always take credit score into consideration before giving a loan. A higher score shows the borrower’s strong history and ability to pay back the loans, while a lower indicates risk.
2. Apply and Negotiate
Once you know which lender will suit you to avail this loan, apply for it and during the application process, be sure to negotiate the loan terms. This includes the rate of interest and repayment period to avail the best deal.
(Note: Read the agreement carefully before signing it.)
3. Check Eligibility
Before applying for this loan, check if you meet the lender’s eligibility criteria. This is because some lenders may require a minimum credit score or a certain level of income to qualify. If you don’t meet the eligibility criteria, the application might be rejected, which negatively impacts your credit score.
How to get a personal loan for chartered accountants?
Nowadays, getting this type of loan is as easy as ordering groceries from your smartphone. Around three months ago, I was looking for the same to expand my business as I planned to hire more staff. One of my employees told me about the Bajaj Finserv application, and believe me, it is totally seamless to use.
- Download the official Bajaj Finserv app
- Sign up by entering your mobile number
- You’ll see the ‘Loans’ section below the search bar on the home page.
- Tap on it and go to ‘Loan for Chartered Accountants’
- Enter the required information
- You are good to go!
Conclusion
If you are a CA professional and are looking for some financial help, then a CA loan is the way to go. Also, you need not worry, as getting this loan is super easy as you just need the right application on your smartphone! Moreover, the CA loan interest rate offered by the above mentioned app is pretty advantageous.
