Becoming a Chartered Accountant is like a dream come true for many young aspiring students as one is rigorously tested at every stage - be it clearing the CPT, IPCC or the CA Finals. No doubt only few can climb such steep hills and come out successful. Unfortunately, that is not the end of the story, there is more to it. Particularly if you being a CA wanted to start your own service then you would require finances in place. But do not worry a CA Loan can help you out in such a scenario.
Features of the Loan-
The most important feature of these loans is that they come as collateral free loans. That means you don’t have to put your house or gold etc. as security to the lender. Most lenders provide a maximum of around Rs. 30 Lacs as loan amount.
Terms of the loans-
The rate of interest is charged at 14% to 17% range by lenders. Surprisingly, some lenders who are well established in lending also have room for foreclosure and part prepayment. Although the non-individual applicants of the loan may have to pay some charges. The charges could be around 4% plus applicable taxes for foreclosure and 2% plus applicable taxes for part prepayment. The CA loan will help you set up a new office and also will help financially.
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