A Loan Against Property for CA: the Ultimate Financial Solution to All Your Cash Needs - Loan Trivia


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Thursday 20 September 2018

A Loan Against Property for CA: the Ultimate Financial Solution to All Your Cash Needs

If you are a professional CA who is unsure about where to go and how to arrange the required cash to get through an unplanned expense, look no further! Find out a loan against property for CA and apply for it.

What is a loan against property for CA?

A loan against property for Chartered Accountants, as the name suggests, is simply a mortgage loan facility designed and developed under the professional loan category for CAs. And like all the other mortgage loans, even for this facility, the loan will be based on the market value of the mortgaged collateral.

Moving on, let’s take a look at why a loan against property for CA is a quick and easy way to raise money.

  • Substantial loan amount: Compared to a generic credit scheme, a professional loan for Chartered Accountant comes with a higher borrowing limit. Some of the financial institutions offer a very high limit such as 2 crores. Having said that, whether you can borrow it or not depends on your creditworthiness.
  • Wider repayment tenor: The repayment tenor, compared to the generic mortgage loan facilities, is higher in the professional scheme. You get as much as 20 years of repayment time to repay the loan easily.
  • Lower interest rates: The point of taking a secured credit scheme over an unsecured credit scheme is to get the financial support at a lower interest rate. Keeping that in mind, you can expect the loan to be offered at a very affordable interest rate.

On a concluding note, be extra careful while applying for the said facility and read all the terms and conditions beforehand to avoid confusion.

You may also like: Know Why Loan Against Property is a Quick Way for CAs to Raise Money.

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