Home Loan for Chartered Accountants

Home Loan for Chartered Accountants

Check Home Loan for CA Interest Rate, Eligibility, & Documents Required

✓ Home Loan from ₹5 Lakhs To ₹5 Cr ✓ Multiple Lending Partners ✓ Attractive Interest Rates

Every individual dreams of living in his own dream home. However, purchasing a home is a big financial decision, and considering your savings for making the purchase will make your budget go haywire. If you are a CA, you surely understand how to manage your finances well and how a home loan help you. Fortunately, there are several banks in India that offer home loans to Chartered Accountants. 

Although not all of these loan options are specifically designed for CAs, they (both government and private employees) can get home loans to achieve their dream of owning a home at low-housing loan interest rates and minimal processing fees.

Home Loan For CA Benefits and Features 

Home loans for CAs, unlike other forms of loans, are specifically designed to meet the financial demands of Chartered Accountants. This loan can help you make your dream of owning a home a reality.

  • Make the most of the pre-approved offers

  • The loans are rapidly processed and paid

  • The application for the loan and confirmation process is simple and straightforward

  • Avail of top-up house loans

  • Save yourself from various hidden charges and fees

Top Home Loans Available For Chartered Accountants

Since a home loan is generally a long-term commitment, it is essential that you select a loan option that meets your requirements and financial capabilities. Given below are some of the options available in India:-

Name of the Bank

Highlighting Features

ICICI Bank Home Loan

  • Interest rates start at 7.60% per year

  • For floating-rate loans, prepayment and foreclosure charges are nil.

  • Loan processing is fast and transparent.

  • Premium banking customers receive additional benefits.

  • Pay off your house loan in smaller EMIs at first, then gradually increase your payments over a 30-year period, subject to terms and conditions.

  • Take advantage of attractive interest rates in various categories.

  • Transfer your home loan to ICICI Bank and save money on your EMIs

Punjab National Bank (PNB) Housing Loan

  • Interest rates start from 7.15% p.a.

  • Get a loan of up to ₹25 Lakhs for repairs, renovations, and modifications.

  • Get a loan of up to ₹50 Lakhs to buy land or a plot of land for a home.

  • Under the scheme, you can get a loan with a repayment duration of 15 to 30 years.

  • Pay a small processing fee of 0.35% of the loan amount, with a minimum of ₹2,500

Axis Bank Home loan

  • Interest rates start at 7.75% p.a.

  • The loan starts from ₹3 Lakhs and can go higher up.

  • It is a simple way to refinance your house loan.

  • It gives you the option to choose either variable or fixed interest rates.

  • The application for the loan and approval process is simple and hassle-free.

  • No penalties are applicable for pre-payment of the loan

Disclaimer: The details mentioned above are subject to change as per the norms and policies of the banks.

Home Loan for CA Eligibility Criteria

The following qualifying conditions must be met for the loan to be approved:

  • You should have a “Certificate of Practice” active for at least 3 years

  • It would be best if you are between the ages of 21 and 65 years

  • A CIBIL score of preferably 750 and above

Documents Required for Home Loan CA 

When applying for a home loan for chartered accountants, the following documents must be presented:

Proof of Identity

  • Aadhaar Card

  • Voter ID Card

  • PAN Card

  • Passport

  • Driving Licence

Proof of Residence

  • Aadhaar Card

  • Voter ID Card

  • Bank Passbook

  • Ration Card

  • Passport

  • Utility bills (telephone bill, electricity bill, water bill, gas bill)

  • Insurance Policy Receipt

  • Letter from a recognised public authority verifying the applicant’s address

Proof of Age

  • Aadhaar Card

  • PAN Card

  • Passport

  • Birth Certificate

  • Class 10th Marksheet

  • Bank Passbook

  • Driving Licence

Proof of Income

  • Form 16

  • Bank statements for the previous six months

  • Income tax returns from the most recent year.

  • Investment proofs (if any) like FDs, shares, etc

How to Apply Home Loan for CA

To apply for a chartered accountant home loan, simply follow these simple steps:

  • Step 1: Visit your preferred website and select Home Loan from the 'Loans' menu.

  • Step 2: To understand your financial obligations with the loan, you can use the Housing Loan EMI Calculator and the Home Loan Eligibility Calculator.

  • Step 3: Decide on a loan amount and term that is right for you. 

  • Step 4: The bank will assess your profile before approving the loan. If your application is accepted, a representative will be in touch with you soon to help you with the formalities.

Let’s Wrap It Up

The easy and simple procedure for applying for home loan makes it possible for more people to become first-generation homeowners. Chartered Accountants can negotiate favourable terms based on a good credit score and get a loan that suits their purpose the best.

FAQs on Home Loan CA

  • ✔️Can a CA get a home loan?

    Yes, a CA can get a home loan but he must meet all the eligibility criteria before it.

  • ✔️How much loan can a CA get?

    If you are a practicing chartered accountant, you may be eligible for a loan of up to ₹45 Lakhs.