Checklist for a CA loan

Additional Read: Fees and charges on your chartered accountant loan explained

2. Select the right amount according to your purpose:

With unsecured loans that offer up to Rs.32 lakh, you can finance a host of business and personal needs using this loan, secured loans offer up to Rs.50 lakh. But, make a financial estimate of how much money you will need based on your purpose. This will ensure that you don’t over-borrow or under-borrow. Doing this will also help you make repayment easier for yourself and fulfil the purpose too. Apply for a loan for Chartered Accountants from Bajaj Finserv. Here you can gain from benefits like a flexible tenor, large loan amount, nominal rate of interest and Flexi loan facility.

3. Meet the eligibility criteria:

To eliminate chances of rejection, it is important to be aware of the eligibility criteria of the loan. For these loans, you must have a Certificate of Practice that is active for a minimum of 4 years and a property in your name, in a city in which your lender operates. Here are the documents you will need to submit to prove your eligibility:

- KYC documents like ID and address proof
- CoP
- Property ownership proof

Additional Read: Why Should You Choose a Loan for Chartered Accountants from Bajaj Finserv?

4. Provide for unpredictable needs:

Depending on your purpose for raising finance, you may have unpredictable needs. For example, if you’re opting for a business loan for opening a new branch office or expanding to new markets, exactly anticipating the cost of such expansion can be hard. Or if you’re taking a personal loan for CAs to meet wedding expenses, you may have to make payments to vendors at regular intervals and deal with unexpected expenses. In such a case, you can opt for a Flexi term loan for chartered accountants. It allows you to withdraw money from the Flexi loan limit in parts, and you only have to pay interest on what you use. You can also pay back the loan in parts as and when you have extra cash on you. Besides, you can choose to pay interest-only EMIs and repay the principal at the end of the tenor.

5. Make use of pre-approved offers:

Pre-approved offers eliminate the need to go through the application procedure from scratch. So, if you are a customer with a lender, make it a point to avail pre-approved offers. Not only will this make applying simpler, it will also speed up your loan approval and disbursal.

As long as you follow this 5-point checklist, you can be rest assured that you will borrow the right amount and take the necessary steps to get a speedy loan approval and disbursal.