Ways to Become Eligible for a Chartered Accountant Loan - Loan Trivia

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Thursday, 21 February 2019

Ways to Become Eligible for a Chartered Accountant Loan

In the past few years, the demand for loans by Chartered Accountants has witnessed a steady rise, especially those which are unsecured. As a result, today, a number of lenders have stated providing such loans which are tailor-made according to the needs of these professionals. They can be used for a wide range of purposes including funding children’s education, home renovating, marriage expenses etc.

However, most CAs are concerned about how to be eligible for such loans.

This is why mentioned-below are the top tips for becoming eligible for such kind of loans -

Income

The salary needed for availing such unsecured chartered accountant loans will vary from one lender to the other. Despite this, it is safe to say that the higher your salary the better will be your chances of getting the loan sanctioned. This is because a higher salary means lesser chances of defaulting on the loan.

Experience

The number of years of experience you have in your profession has a big role to play in getting the loan application approved. This is because most lenders who offer such kind of loans as for CoP or Certificate of Practice which qualifies you to work as a CA. Generally, there should be a gap of 3-5 years since the time of obtaining the CoP for availing such loans.

Age

Last but not the least is the age. Merely having a good pay package is not going to cut the cake as you need as you need to be between 25 to 60 years of age for availing these loans.

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