You may need funds to bolster your practice, finance your child’s education or wedding, buy a new car or home, or buy commercial property as an investment. Bajaj Finserv offers a customised loan to help chartered accountants like you. This offering is a suite of four loans that you can use to finance various needs.
Before you choose from these CA Loan offerings, determine the nature of your cash needs and borrow accordingly.
1. Personal loan for CAs
This loan is ideal to finance varied personal needs such as an international holiday, home renovation and repairs, wedding expenses, medical procedures and education costs. With loans of up to Rs. 35 lakh, a Personal Loan for CAs is a collateral-free loan, with a flexible repayment tenor of 12 to 60 months and no end-use restrictions.
This loan offers you benefits like a nominal interest rate, money in the bank within 24 hours, easy eligibility criteria and minimal documentation.
2. Home loan for CAs
Access funds up to Rs. 2 crore with a Home Loan for CAs, and become a homeowner without hassles. This loan offers you facilities like property search services, a property dossier and customised insurance schemes that make your home-buying experience a lot easier. You can repay the loan in up to 240 months. You can also get a high top-up to buy furniture and fixtures or carry out any renovation or upgrades during your repayment. You don’t have to re-apply for a new loan for this purpose.
You can also transfer your existing home loan balance at a lower interest rate.
3. Business loan for CAs
Your practice may need cash to finance working capital needs, purchase new computers or accounting software, buy a new office space, expand to another location and other purposes. You may also need to hire CAs with specialisations in business finances or international law to offer additional services to clients. A Business Loan for CAs is the perfect option for you in such cases. It is an unsecured loan, and you don’t need to attach any personal or business assets as security. You can borrow up to Rs. 35 lakh at competitive interest rates with doorstep document pick-up and a flexible repayment tenor of 12 to 60 months.
4. Loan against property for CAs
This secured loan option requires you to submit property papers as collateral. This loan can be used for any high-ticket purchase, like buying a second home or commercial property or financing your child’s overseas education. It provides loans of up to Rs. 2 crore with value-added services like insurance and property search. It takes only 24 hours for this loan application to be approved, so that you can access the funds quickly. The repayment tenor goes up to 240 months so that you can repay it with ease.
Choose between term loans and Flexi term loan facilities
Be it a wedding or travel, education expenses or working capital needs, it is difficult to determine the total loan amount you need. In such cases, you can avail any of the above loans with a Flexi loan facility. Via this facility, you can borrow multiple times within your Flexi loan limit. You can prepay funds when you have extra income and even re-avail the prepaid amount. Here, you pay interest only on the sum you use instead of the total amount. This lowers your EMIs by up to 45% and gives you access to funds when you need them. You can choose to pay interest-only EMIs to manage your cash flow better. You can repay the principal at the end of the tenor. Thus, a Flexi term loan is ideal for all your unpredictable expenses.
All you need is to have a certificate of practice that has been active for at least four years and property in your or your parent’s name, in a location that Bajaj Finserv services, to be eligible for these loans.
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