Smart Tips To Earn Maximum Benefit From Your CA Loan - Loan Trivia


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Wednesday 6 June 2018

Smart Tips To Earn Maximum Benefit From Your CA Loan

A chartered accountant loan is a form of modified personal loan. In other words, it is similar to a personal loan but has lower interest rates. It is an unsecured loan and no guarantor or collateral is needed. It is available online and let’s you quickly go through the application process, saving you time.

Uses of Chartered Accountant Loan

Chartered accountant loan can be used to rent or buy commercial property, to cover registration fees to set up your firm, to buy office equipment for your firm and to hire employees or a consultancy firm for your business.

You may even use the loan to fund an educational course to enhance your professional skills. Loan covers your tuition fees, accommodation expenses and commute (tickets).
Plan Before You Apply

Since, chartered accountant loan will mostly be used to fund your business or personal needs, it is essential to draw out a detailed plan on how you intend to use it.

You may choose the flexi loan facility to let you pay interest-only EMIs and repay principal at the end of the fixed tenor. 

You must decide the - amount (maximum loan amount of Rs. 35 lakh can be availed), tenor (it will impact your EMI, as long tenors will reduce EMI and shorter tenor will increase EMI) and EMI structure (organize sources to cover it on time) to let you cover it conveniently. While, interest rate is subject to loan amount, tenor and your individual application.

Read More :-  How to Get the Most Out of a CA Loan

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