Professional Loan for CA

Chartered Accountant Loan

Unlike the olden days, you can now start a business by availing of a business or professional loan. In today’s finance and business sectors, professional loans serve a variety of purposes. Self-employed professionals like doctors, accountants, lawyers, engineers, architects, dentists, etc can avail of a professional loan to start or expand their business. If you are one of these professionals, it is pertinent that you are qualified in the respected profession and possess adequate knowledge to practice your business.

Professional Loan for Chartered Accountants

One such profession that can benefit from such loans is that of a Chartered Accountant. These days, many banks and financial institutions provide professional loans for chartered accountants. If you’re a Chartered Accountant, you can secure professional loans that serve a variety of purposes.

Need for a Loan for Chartered Accountants

In India, a loan for chartered accountants can be secured to fund expenses for any of the following reasons:

• Expanding your business

• Purchasing equipment for your office

• Constructing your office

• Renovating your office premises

• To procure working capital

• To aid in conducting foreign trips, conferences, and seminars related to work

• Other business requirements

Features of a loan for Chartered Accountants

A professional loan for chartered accounts boasts of the following features: 

• Fast and easy online loan processing: To keep up with evolving times, professional loan providers have made the lending process easily accessible for borrowers by offering loans online. Thus, borrowers can benefit from instant loan processing and hassle-free loan disbursals.

• No collateral: A professional loan for chartered accounts is an unsecured loan, i.e. you don't need to pledge your assets against the sum loaned to your business. You can avail of the loan amount with zero collateral requirements.

• Flexibility of repayment: Professional loans for Chartered Accountants come with flexible repayment tenures. For instance, you can now repay your loan within 12 to 60 months on Finserv MARKETS.

• Higher credit limits: You can take advantage of high loan amounts for Chartered Accountants, of up to ₹30 lakh on Finserv MARKETS. This can furnish you with all the financing help required to boost your business with ease. 

Interest Rates for a loan for Chartered Accountants

The interest rates for a professional loan for a Chartered Accountant can either come in the form of a flat rate of interest or a diminishing rate of interest (also known as the reducing balance rate). The former is a rate that will remain constant throughout the loan repayment tenure whereas the latter means that the rate of interest will be applicable on the balance of your principal amount only. On Finserv MARKETS, the rate of interest for professional loans for Chartered Accountants ranges between 14-17% p.a. You would also be charged processing fees of up to 2%.

The interest rates you are offered for your professional loan can vary by a number of factors. These factors include: 

• Annual turnover

• Credit history

• Your business’ financial health

• Your debt-income ratio

• Lender’s credit policies

Eligibility Criteria to take a loan for Chartered Accountants

Professionals like chartered accountants can avail a professional loan if they fit the following criteria:

• You must be an Indian citizen

• Your age must be between 25-65

• You must be self-employed as a CA

• You must have a minimum of 4 years of experience as a CA

Application Process and Documents Required to borrow a loan for Chartered Accountants 

There are various lenders that provide the professional loan for Chartered Accountants. You simply have to visit their website, choose the loan type and submit the duly filled application form. Along with your application form, you would also need to submit the relevant documents required to supplement your loan application.

 You must keep the following documents handy while applying for a professional loan for Chartered Accountants:

1. Your qualification degree

2. Identity proof documents like Aadhaar Card, Driving License, Voter ID, PAN Card

3. Address proof such as ration card, Aadhar Card, utility bills

4. Bank statement of the past 6 months

5. Business proof such as trade license, income tax returns

6. Latest balance sheet, income tax returns, and profit and loss account for the last 2 years

You can now avail of a Professional CA loan with extensive benefits and loan amounts of up to ₹30 lakh on Finserv MARKETS! The application approval process can take as little as 3 minutes and you can acquire the loan amount in your bank account within just 24 hours! The documentation required is minimal, so as to provide you with a completely hassle-free experience. The flexible repayment tenures give you the freedom to chart your repayments with utmost convenience. What’s more, you can get added benefits in the form of financial reports to track your financial health and tailor-made insurance plans to protect your loan liabilities.

Make your accountancy business bloom today by opting for the professional loans for Chartered Accountants available on Finserv MARKETS.