A home loan for chartered account is a customized scheme designed especially for professional CAs. The scheme allows the eligible candidates to take advantage of their profession and fulfill their dream of possessing a home in a convenient way. Therefore, if you are planning to attain the advantages, you must take a quick look on the four primary benefits of a home loan for CA.
It is quick
Unlike the traditional loan schemes that take in between a week to a months time for approval, a home loan for chartered accountant is relatively faster. The same may take not more than 48 hours for approval once the application is submitted. This means no more waiting for loan approval, no more testing your patience.
The borrowing limit is higher
Understanding the increasing cost of real estate properties, the scheme offers a higher borrowing limit. As an applicant, you can borrow a bigger amount and possess a better/bigger home in a locality of your preference.
Flexi loan facility: the icing on the cake
The flexi loan facility is the icing on the cake component of the above-mentioned scheme. The facility allows the borrower to get approved for a higher amount and withdraw it as per their convenience, in single or multiple withdrawals. The added advantage, the interest is charged in the utilized amount.
Flexible repayment plan makes it easier
A home loan for CA comes with flexible repayment plan, allowing the subscriber to repay the debt more swiftly. As a part of the plan, you can choose to pay the interest component as monthly EMI and settle the principal amount later.
On a concluding note, the creditworthiness of the applicant plays a major role in getting the application approved. Hence, the applicant must ensure their loan worthiness is in accordance with the standards of the scheme before applying for it.
Also Read : Questions to Ask Before Opting for a Home Loan for CA
It is quick
Unlike the traditional loan schemes that take in between a week to a months time for approval, a home loan for chartered accountant is relatively faster. The same may take not more than 48 hours for approval once the application is submitted. This means no more waiting for loan approval, no more testing your patience.
The borrowing limit is higher
Understanding the increasing cost of real estate properties, the scheme offers a higher borrowing limit. As an applicant, you can borrow a bigger amount and possess a better/bigger home in a locality of your preference.
Flexi loan facility: the icing on the cake
The flexi loan facility is the icing on the cake component of the above-mentioned scheme. The facility allows the borrower to get approved for a higher amount and withdraw it as per their convenience, in single or multiple withdrawals. The added advantage, the interest is charged in the utilized amount.
Flexible repayment plan makes it easier
A home loan for CA comes with flexible repayment plan, allowing the subscriber to repay the debt more swiftly. As a part of the plan, you can choose to pay the interest component as monthly EMI and settle the principal amount later.
On a concluding note, the creditworthiness of the applicant plays a major role in getting the application approved. Hence, the applicant must ensure their loan worthiness is in accordance with the standards of the scheme before applying for it.
Also Read : Questions to Ask Before Opting for a Home Loan for CA
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