5 Ways Flexi Term Loans Can Help Your CA Firm
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5 Ways Flexi Term Loans Can Help Your CA Firm

  • Highlights

  • Pay recruits on peak season

  • Install the latest accounting software

  • Smartly manage cash flow

  • Flexi Loans scores more over your regular EMIs


Those who make finances simpler for the world, need someone to do the same for them. As a Chartered Accountant (CA), there are instances when unexpected cash needs arise. Flexi Term Loans are your best bet in such a situation. Here are 6 ways through which this innovative way of borrowing can help your CA firm.


1. Pay The Extra Recruits You Hire During Tax Filing Season

When the tax filing season is in full swing, you may need to add a few extra people to your existing pool of employees. With a delay in payments received from clients during that peak period, Flexi Term Loans give you the money to pay these extra recruits. Once you submit all the required documents, the loan is disbursed to your account within 24 hours.

2. Install Updated Accounting Software Following New Taxation Rules

With sudden changes in taxation rules, you might need an updated accounting software for your firm. Based on the features, such a software can cost your firm thousands. With a pre-approved credit amount offered by flexi loans, you can withdraw the amount of money required to install such a software at no additional charge, without having to pay the interest on the entire amount.

3. Sustain a Healthy Cash Flow During Expansion

During expansion of your CA firm (say opening a branch office in another city), when you are not sure of the exact amount of money required, Flexi Term Loans are your best bet. With multiple withdrawals at no extra cost and interest charged only on the utilised amount, gives you the needed flexibility, brings down your monthly EMIs and keeps your cash flow healthy during such expansion.

4. Make use of Specialised Services When Required

Technological disruption warrants CAs to learn about Big Data and Analytics and improve the quality of the audit. While these courses are costly and your existing resources may not have the bandwidth to go for such courses, you can hire an analytics professional specializing in these services or who can train your employees on these. Depending on the experience of the professional, your expenses can increase.

5. Free up Blocked Working Capital

There can be occasions when your clients delay their payments due to a slowdown in business. This can put pressure on your working capital and you may find it difficult to address expenses such as office maintenance, staff payment, utilities payment, etc. You can easily address such cash flow-related issues by withdrawing funds from your pre-approved your Flexi Loan limit.

How to apply for a Bajaj Finserv Loans for Chartered Accountants

Flexi Term Loans to address your flexible needs

An innovative mode of finance,flexi loans are your best bet to address immediate cash requirements for various purposes and the smart way to manage your cash flow. They give you the financial flexibility without worrying about high EMIs and repayment.
-No multiple applications: Unlike a term loan where you get a lump sum amount and need to apply for a top-up loan if you need extra money, Flexi Term Loans allow you to withdraw more cash without any reapplication.

-Multiple withdrawals: You can withdraw funds from your approved credit amount as and when required

 

-Interest charged on a daily basis: The interest is charged only on the amount used at the end of the day.

 

-Pre-pay again and again at nil charges: You can pre-pay the balance on your flexi loan multiple times whenever you have extra cash at no additional costs. You can withdraw again when required and pre-pay again.

 

-Pay only interest as EMIs: Here, you have an option to pay only the interest component of your loan as EMIs, with principal payable at the end of the tenor.

 

How Flexi Term Loans score over Term Loans

 
  Flexi Term Loans Term Loans
Withdrawal allowance Allows you multiple withdrawals at no extra cost, without reapplying You get a lump sum amount; if you need funds, you must apply for a top-up
EMI composition You can pay only interest as your EMI and the principal at the end of the tenor The EMI consists of interest and the principal component
Interest charged You pay interest only on the amount utilised and not on the whole amount sanctioned The interest is charged on the entire loan amount disbursed
Time taken for loan disbursal Once the documents are collected, the loan is approved within 24 hours Approval of loan can take more time as there is a rigid scrutiny process

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