CAs often overlook the need to take a break from the monotonous professional life. Life in the professional front can be quite busy and stressful for such individuals.
Hence, spending time with the family/friends and going on vacation with them is a recreation most CAs long for. To revive and rejuvenate, going out on a trip with your close ones is a great idea.
You might think of dropping a vacation plan owing to high expenses and financial restraints. To make sure you are not deprived of such chances, financial institutions come up with personal loans.
Personal loans for chartered accountant are extended so that professionals can have enough funds to spend on other expenses.
Personal loans for chartered accountants are collateral-free advances, for which a borrower need not mortgage security to avail the funds. The eligibility criteria set under such loan policies are usually simple to meet.
The documents which an applicant will have to submit while applying for this loan include-
- Certificate of Practise (CoP).
- KYC documents (Aadhaar card, voter ID card, passport, driving license, etc.).
- Bank account statements.
- Photograph of the applicant.
All of these must be kept ready before you can tick all the points included in the checklist to avail a CA loan. When you have all the papers and documents ready for verification, it also ensures faster approval of your loan application.
Exclusive features available on a personal loan for chartered accountants
Starting from completing your CA articleship to building a reputation in your workspace, you must have acquired great precision in your profession.
Now is probably a great time to allow yourself some refreshment, and what better than a vacation with your loved ones. If you are short of funds to go on a trip, opt for a personal loan.
There are several points as to how a personal loan can be helpful for CAs. However, to further increase the utility of such loans, you can look for the following features in the loan –
- Adequate sum – Personal loans offered to chartered accountants could range up to Rs.35 lakh. You need to compare the chartered accountant loan interest rates to find out which among them is affordable.
- Quick access to funds – If you are looking for urgent funds, opt for a lender that approves and disburses a personal within 24 hours of application. You need not keep waiting for months to acquire funds.
- Flexi-loan facility – This feature enables you to withdraw and repay funds as per your needs. Instead of having to pay interest on the gross loan sum, you have to pay interest only on the amount used by you.
- Flexible repayment tenor – Repayment period permitted in the case of a personal loan for chartered accountants ranges from 12 months to 60 months. The lender might also allow you to repay the sum through easy and affordable EMIs.
- Online access to your loan account – This feature means that you can view and manage your loan account whenever you want, using the online facility.
In addition to the above, Bajaj Finserv, a leading Non-Banking Financial Company (NBFC), also brings pre-approved offers that make the process to avail financing uncomplicated and saves time.
Pre-approved offers are available on a host of financial products like personal loans, home loans, business loans, etc.
For working professionals like chartered accountants, going on a holiday might not always be possible. However, if such opportunities come, you must not back down thinking of financial aspects. You can rely on a personal loan for chartered accountant and put such worries to rest.