How to Avail Loans Specially Made for Chartered Accountants - Loan Trivia

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Thursday, 27 September 2018

How to Avail Loans Specially Made for Chartered Accountants

It’s rather surprising that chartered accountants spend all their time ensuring accuracy of accounts and yet there wasn’t any loan facility which catered to their needs. Thankfully, this has now been addressed with the introduction of personal loans for chartered accountants.

Using this facility, CAs can apply for loans worth up to 2 crore which can be repaid back in 20 years. It requires minimum documentation, no collateral and can be approved in as early as 24 hours.




So how can this loan facility be availed by chartered accountants?

The first step involved choosing the kind of loan which is to be availed. There are four kinds of online loans which are available for chartered accountants. These include -

  • Personal Loans: Under this, CAs can avail loans of up to 35 lakh which can be paid back in 5 years.
  • Business Loans: This can be used when expanding a firm or for any other business needs. Loans of up to 35 lakh can be availed to be paid back in 5 years.
  • Home Loans: Any CA desirous of purchasing a new property can avail CA loans of up to 2 crore which can be paid back in 20 years.
  • Loan against Property: This facility can be used for funding personal or professional expenses. Loans of up to 2 crore can be availed which can be paid back in 20 years.

Once the type of loan to be availed has been decided, next comes the documentation. All of these loans require bare minimum documentation including having a COP which has been active for 4 years.

The final step is involves choosing a financial institution which would issue such loans, visiting their website and filling up a form which asks for the personal details. Once the form has been filled and the documents verified, the loan for chartered accountants gets approved in less than 24 hours.


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