Professional loans are a set of purposeful and unique financial products introduced to fulfil the unique requirements of practising professionals. These loans are offered by NBFCs like Bajaj Finserv, based on your stream, working experience, and degree.
One such line of credit offered by Bajaj Finserv is a Loan for Chartered Accountants. It includes an ensemble of 4 different types of credits, namely Loan against Property, Home Loan, Business Loan, and Personal Loan for CAs. These customised lending options come with substantial loan amounts, competitive rates of interest, simple eligibility criteria, and minimum documentation requirements to make it simple for a borrower to avail them quickly.
Moreover, as a borrower, you can follow certain tips to avail a Loan for Chartered Accountant from top lenders like Bajaj Finserv even more easily. Here are some of the factors that will help you get a CA loan easily and in the least amount of time.
Ensure you meet the eligibility criteria – Before you apply for credit, make sure you meet the necessary eligibility criteria allocated by the financial institution. It will ease up the application process and ensure you get approved for the advance when you apply.
Bajaj Finserv mandates only some easy-to-meet eligibility criteria to qualify for a Loan for Chartered Accountant. The applicant only needs to have a practice of more than 4 years (determined using your Certificate of Practice) and own a house or office in a location within their enlisted operational jurisdiction.
Ideally, you should also have an above average credit score to vouch for your creditworthiness as a borrower. Moreover, you are likely to avail lower rates of interest on your CA loan if you have a score of 750 or higher.
Prepare the necessary documents – You will have to submit some necessary documents when you apply for a loan for chartered accountants. It is better to prepare the paperwork beforehand in accordance with a checklist for a CA loan to avoid any delay or mistake during document submission.
You only have to submit a copy of your Certificate of Practice, KYC documents, bank statements, and a recent passport sized photograph to apply for an unsecured CA loan like a personal loan or business loan. However, for secured credits like home loans or loan against property, you will also have to submit the papers for the mortgaged property along with balance sheet, income tax returns, and account statements for the last two years.
Calculate your requirements – You should carefully evaluate your requirements before you apply for a professional loan for chartered accountants. Calculate how much money you will need, and in what purpose you are likely to utilise the funds. As mentioned before, loan for CA is a suite of 4 loans, best used for their purposes.
For example, if you want to invest in your firm, a business loan for CA will be the ideal financial product. It offers you up to Rs. 35 Lakh as credit. To purchase a residential property, you can opt for a home loan which can go up to Rs. 2 Crore.
If you do not want any end usage restriction, you can opt for a personal loan which offers up to Rs. 35 Lakh without any collateral, or a loan against property which offers up to Rs. 2 Crore against a mortgaged asset. Carefully evaluate your requirement and go through the process of how to apply for a Bajaj Finserv Loan for Chartered Accountant to avail the advances without any hassle.
Moreover, Bajaj Finserv provides pre-approved offers on unsecured credits like personal loans, unsecured business loans, secured advances like home loans, and on various more financial products. A pre-approved offer will help you save time by simplifying the process of availing the finance. You only have to share some essential details online to check your pre-approved offer.
Avail a professional Loan for Chartered Accountants from Bajaj Finserv by easily meeting the basic eligibility criteria and documentation requirements.