The benefits of chartered accountant loan are numerous, including online application, quick approval and speedy disbursal of the loan amount. The Chartered Accountant Loan Eligibility Criteria is also simple, thus making it easy and simple to apply for. What’s more, chartered accountant loan interest rates are nominal to ensure that your loan is affordable.
A chartered accountant loan covers a suite of four loans, which includes the home loan, business loan, personal loan and the loan against property. Thus, these loans can help you raise finance for a range of diverse functions.
Tips on how to use a chartered accountant loan
- To purchase an asset: You can easily use a CA loan to purchase the asset of your choice. Personal loans are most commonly used to purchase assets like a vehicle while loans against property can be used for the down payment of a second home or any other larger asset you seek to buy. These loans can be used at your complete discretion and do not have any restriction. While personal loans offer up to Rs.35 lakh, a loan against property can give you up to Rs.2 crore in finances.
- To pay off credit card debt: If you have accumulated huge debts on your various credit cards, you can consolidate them all into one low-interest debt and pay it off in affordable EMIs.You can do this using a personal loan and do not need to worry about any collateral or a guarantor.
- To decrease your home loan EMIs: If you already have a home loan and want to reduce your EMIs, simply go for a loan against property within the CA loans umbrella. This loan is sure to offer you an attractive interest rate and even gives you access to a top up loan.
- To finance your child’s wedding: Weddings are an important occasion and require substantial finances. You can get the monetary assistance you need by taking a personal loan to conveniently organise your child’s wedding. These loans feature an affordable interest rate, no collateral and also provide a convenient line of credit facility that comes in handy when your requirements fluctuate or you don’t know exactly how much money you need.
- To fund your working capital needs: If you are a CA with your own practice, it is natural for your business to have the need for working capital for day to day expenses. If you are running short of working capital, you can use the business loans under the CA loans to finance this deficit.
- To purchase your dream home: If you dream of becoming a homeowner then a home loan can come in handy for you. With low interest rates, a flexible and long repayment tenor and loan amounts up to Rs.2 crore, you can purchase your home comfortably and pay affordable EMIs. These loans also come with a range of facilities like property search service and property dossier to help you choose the best home for yourself and your family.
- To grow or expand your business: Business expansion is a move that requires significant amount of finance. This may be to move to a bigger office, hire more employees, upgrade your office furniture and computers, etc.Rather than dipping into your working capital, you can take a business loan. This is a feasible mode of financing offering you up to Rs.35 lakh in funds. This loan is also collateral free and is easy to apply for online.
- For home renovations: If you need substantial money for carrying out home repair and renovation you can either take a personal loan or a loan against property. Whether it is buying new furniture, remodelling some parts of your home, adding garage space, buying new soft furnishings, purchasing electronics or anything else, you can do up your home with ease using a CA loan.
These are some of the best ways to use a Chartered Accountant Loan. The best thing about these loans is that they can be used in any way you desire and are simple to apply for online. With low interest rates, flexible repayment tenors and simple eligibility criteria, Chartered Accountant Loans from Bajaj Finserv may be your best option.