Personal Loans for Chartered Accountants in India

Every once in a while, anyone can fall short of funds and need immediate assistance with finances. Despite chartered accountants being well-paid in India, there can be situations where you will need ready funds. It could be for several reasons from medical emergencies, home renovation, vacation, education, anything!

Personal loans can help you deal with all of these situations and more. Like people from any other profession, chartered accountants also can avail personal loans without any collateral.

Lenders today provide unique loan options to chartered accountants specifically to cater to your needs and requirements. A chartered accountant loan has a protracted repayment term, a high sanction and quick disbursal. If you are a chartered accountant and you need a loan, you will be able to avail an unsecured loan, meaning, you can avail a loan without submission of any collateral. It is a multi-purpose loan sanction to cater to any sort of financial requirement or obligation. There are no restrictions on the end use of the amount – you can use it to develop professionally like purchasing a new office, scale up operations and hire new staff; or utilize it for personal needs.

Attractive interest rates and flexible loan tenure make it easier for you to plan and budget your repayments in advance. This is where an NBFC like Chola comes to play – an esteemed organization trusted by millions financially. Chola offers best in class interest rates and loan tenures. Minimum documentation and easy application process make it even better!

What are the benefits of a chartered accountant loan?

Collateral free funds – Most lenders provide a chartered accountant loan without any collateral or security. Furthermore, they don’t require a guarantor either.

Competitive interest rates – CAs are considered low risk borrowers, therefore, lenders don’t think much before approving the loan application. The interest rates in a chartered accountant loan are significantly low and the disbursal time period is fairly less.

Tenure flexibility – Lenders provide flexible repayment windows for chartered accountant loans enabling you to tailor your installments to fit into your personal and professional budgeting.

Quick processing and speedy approvals – Funding needs to be fast to be effective and that is exactly how lenders have designed chartered accountant loans too. Most lending institutions guarantee rapid loan processing along with quick approvals and quicker disbursals. You can expect to receive the loan amount within 24 hours of the loan application being approved.

Minimum documentation and eligibility criteria – To avail a chartered accountant loan from a lender of your choice, you must fit into certain eligibility criteria put up by them. For instance, some lenders have specific age limit, income levels and work experience. Documents supporting your eligibility to avail the loan can be easily uploaded online and can be cross verified by the lender without wasting much time. Most often, borrowers are asked to submit documents like KYC documents, certificate of practice and bank statement.

Eligibility for a chartered accountant loan:

  • The age should be 22 years and above at the time of loan application
  • Applicants must be citizens of India
  • Applicants must have a fixed income
  • Applicants must have at least 1 year of work experience and at least 2 months of permanent employment in the current job.

Steps to get a personal loan for chartered accountants:

Fill up loan application – You will be requested to submit an application form from the lender’s website or mobile application. Basic information such as name, date of birth, address with supporting documents, bank account information, Aadhaar and PAN information and information about employment and income.

Submit documents – If you are submitting an online application for a chartered accountant loan, you will be requested to submit documentations online like proof of income, income tax returns, bank statements and information about any existing loans ion your name.

Loan offer – An offer is made by the lender depending on the application filled and submitted and after analyzing your credit worthiness.

Disbursal – Once the application is submitted and the loan offer is approved, the disbursal is fairly fast. Most lenders disburse the loan amount to your bank accounts within a matter of hours.

Chola is one of the best NBFCs trusted by thousands of CAs in India to build their career to the next level. Key features that will inspire you to choose Chola for your personal loans are listed below.

  • 1 lakh to 20 lakhs loan amount
  • Digital paperless application process
  • Quick disbursal of loan amount
  • Competitive interest rates
  • Pan India coverage
  • Offers on term loans and flexi loans

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