What Are The Features & Benefits of Availing a CA Loan?

A CA loan can widely help you expand the business, meet the working capital needs or even buy a house and finance your wedding if you’re a chartered accountant.

Hence, today, many financial institutions offer CA loans to professionals in the form of business loan, personal loan, home loan, etc. Bajaj Finserv, a non-banking financial institution, also has pre-approved offers on the loans mentioned above and many other financial products for chartered accountants and other professionals. You only need to provide some personal details to check out your pre-approved loan offers so that you can avail them without any difficulty. It is an easier process to avail funds, that too in a short time.

Thus, availing loans for chartered accountants is easier than ever now! Before learning the benefits, let’s take a look at its features first.

Features of a CA loan:

Various lending organisations offer loan for professional which chartered accountants and even professionals from other fields can avail. However, institutions like Bajaj Finserv offer customised loans catering specifically to the needs of chartered accountants. Below are some of the features of this financial product.  

• Loan amount

The amount for CA loans varies from Rs. 20 Lakh to Rs. 1 Crore depending on the institution you are applying from. Generally, this is an unsecured loan. Hence, the amount also varies if you go for a secured CA loan.

• Loan tenure

The tenure ranges from 1 year to 5 years in most cases. However, this is also subject to the terms and conditions of the financial institution from where you’re applying for a professional loan for CA.

• Flexi loan facilities

When you apply for a Flexi Loan for CA with an NBFC like Bajaj Finserv, you don’t have to pay interests for the entire loan amount. Pay only for the amount you have withdrawn from your account. Once you repay the amount, you can again withdraw from the remaining credit limit within the loan tenure.

If you apply for a chartered accountant loan from Bajaj Finserv, you get various other benefits. The NBFC offers CA Loans in four variants – Business Loan, Personal Loan, Loan against Property & Home Loan. Hence, you can apply for the one which meets your professional as well as individual requirements well.

Along with the features, you must know the steps to get quick approval of you CA loan.

Benefits of chartered accountant loans

The perks of this customised professional loan for CAs are numerous.

1. Meets working capital needs

Use the loan amount to pay your recurring business expenses like employees’ salaries, repayment of debts and overhead costs. Also, the loan can help in case you have negative working capital since you don’t want your practice to come to a pause.

2. Invest in assets

Investment in new assets is the right way of utilising your money as it brings long-term returns. A CA loan can aid you in purchasing assets like a new office, computers, equipment, furniture, etc. The costs for these purchases won’t hurt your day-to-day expenses either if you avail a chartered accountant loan.

3. Finances your business expansion

Every businessman wants his firm to expand. Hence, a credit of up to Rs. 35 Lakh can aid in the expansion efficiently. The application procedure is also hassle-free with Bajaj Finserv where representatives come to your doorstep to complete the paperwork. You only need the following documents to get the loan amount within 24 hours:

• KYC documents

• Your COP which is active for at least 4 years

• IT returns and balance sheet of the previous 2 years

• Photographs

• Proof of property ownership in case of secured loans only

How to apply for the loan?

You can apply for this unsecured advance both online and offline with any financial institution. However, with Bajaj Finserv, you get instant approval for the CA loan on providing the minimum necessary documents. You don’t require any collateral either to apply for the loan and can enjoy pre-approved offers to add value to your professional and personal line of work.