Most Economic Loan Options for Chartered Accountants in India - Loan Trivia


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Monday 8 January 2018

Most Economic Loan Options for Chartered Accountants in India

A loan is a debt availed when the funds in hand (generally savings) are not sufficient for the fulfillment of a personal and/or professional requirement. Going by this definition, Chartered Accountant loans are professional loan for CA looking to expand their existing practise. These financial instruments help a CA leverage his/her skills related to personal and corporate finance for his/her own advantage. Moreover, there are many lending institutions that provide CA loans at quite low interest rates.

If you are a Chartered Accountant, given below are a few ways how you can utilize this professional loan:

  1. The proceeds can be used to cover the working capital  needs of your firm
  2. They can be used to help your existing practise grow in all respects
  3. You can avail them to procure any asset
  4. CA loans can be utilized for debt consolidation
  5. Loans in the form of a line of credit allows free access to a dedicated credit limit, along with multiple withdrawals of funds from the same
  6. They can be availed to undertake office space renovations of all scales

Banks and Non-Banking Financial Companies (NBFCs) provide Chartered Accountant loans when the specified eligibility criteria are fulfilled. NBFCs have simpler eligibility criteria and provide wider tenure options for repayment. Moreover, there are secured loans (loans backed by some collateral or mortgage) as well as unsecured loans (those without any collateral) to choose from for the eligible CA loan candidates.

In the below resource you can understand the above points in a elaborative way:

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