Being a Chartered Accountant for quite a long time now, I was recently planning to start my firm in Gurugram, Haryana. However, if you are an entrepreneur, then you know that it requires a good amount of funds to start your own thing. Our country’s CA loan interest rate is quite lucrative, and to avail of this type of loan is undoubtedly a beneficial deal.
Being a professional, availing of this loan for my practice was a good idea as it has many benefits. Moreover, I didn’t even have to wait longer, and funds were available to me quickly.
What is a ca loan?
As the name suggests, it is a type of loan typically offered to Chartered Accountants who are planning to start a new business or grow their current one. Moreover, it can also be used to finance professional development.
Designed to meet the unique needs of a chartered accountant, this loan is processed much easier and faster than regular loans. For example, you can quickly avail it within just 24 hours, and it also offers flexible repayment options, easy part-prepayment options etc.
What are its advantages?
● Higher loan amount
This type of loan generally offers a higher amount than the others. So, therefore, it helps the borrower who requires a large sum of money.
● Flexibility
There are certain banks or financial institutions that offer Flexi loans to make the finances manageable. It helps an individual to make multiple withdrawals and deposits against the credit limit.
● Lower Rate Of Interest
The CA loan interest rate may be eligible for a lower rate of interest on loans. This ultimately helps them save a lot of money over the total tenure of the loan.
● Instant approval
As the lenders consider such professionals to be less of a risk, the application is generally approved more quickly here and sometimes in just less than a day.
How to avail this loan?
Long gone are the days when people actually used to visit the banks to avail of this loan. However, I’ve realised recently that if you have an internet-enabled smartphone in your hand, you are more than good to go. Around six months ago, when I was looking for this type of loan, one of my associates suggested I go for the Bajaj Finserv application. Believe me, with just a few taps, I got the loan instantly, and the interest rate here is quite lucrative.
- Download the app from the App Store or Play Store.
- Sign up
- On the home page, you’ll see the ‘Loans’ section below the search bar.
- Tap on it and go to ‘Loan for Chartered Accountants
- Enter the required information.
Conclusion
If you are a chartered accountant professional looking to expand your business, a CA loan is one of the best helps you can avail yourself of. Now, I’m not promoting any brand or organisation here but just sharing my personal experience so readers can easily understand.
