Personal Loan for Chartered Accountants

Personal Loan for Chartered Accountants

As discussed before, personal loans can cater to a wide variety of needs in the long term. Whether we talk about consolidating older debts, spending on miscellaneous expenses, saving for medical emergencies, etc. Since every business needs to grow and do better, expansion is the way ahead.

The scale of operations can diversify with an instant personal loan. A personal loan is the ideal choice for a semi built company/business. For working professionals like Chartered Accountants, personal loans can be help scale operations come in the form of professional loans or business loans for professionals. The salient features of a personal loan for Chartered accountants are as under:

Personal Loan for Chartered Accountants from Home Credit

  • The maximum loan amount available under this scheme is Rs 2,00,000
  • The instant personal loan can be availed without the need for collateral/security
  • The amount is offered with flexible repayment tenure starting from a minimum 1.5 years to a maximum 4 years.
  • There’s zero processing fee under this loan type. Usually, professional loans with online facilities are charged a convenience fee of Rs 1,999. Also, with every EMI bounce, a charge of Rs 1,000 is charged.

HDFC Loans for Chartered Accountant Professionals

  • The borrowers can conveniently know the eligibility in just a minute and facilitates with the ease of SMS, webchats, phone banking etc. can find out them in-principle loan eligibility in just a minute.
  • The loan amount can go uptil Rs 20,00,000 based on the location, loan amount which can touch about Rs 50,00,000. The personal loan offers flexible repayment tenure starting at 12 months and staying at 60 months.
  • The loan is offered with a credit protect insurance plan. The purpose pf the policy is to avoid any financial crisis at the time of the borrower’s decease.
  • HDFC loans for CAs permit easy transfer of money to their existing accounts of professionals. They charge a fluctuating rate of interest at 12.99% p.a. on the existing loan transfers as well as low processing fees of 0.99%.

Corporation Bank Corp

  • The loan from Corporation bank is specially dedicated to Chartered Accountants. They could be individual CAs or working in a proprietorship or partnership. The age of the borrower must be below 65 years of age.
  • Borrowers must not list anywhere in the RBI Defaulters List and in case it’s a partnership firm, then all partners must have signed as co-applicants to equally share profits and losses.
  • The loan amount can suitably be used to build office premises, build an office space, use as working capital and pay for the miscellaneous costs like furnishing and fixture of equipment.
  • The loan amount can go up to Rs 1 Crore, available at a rate of interest of 12.35%. For larger loan amounts, exceeding Rs 1 Crore, the interest rate can be imposed as per the applicable slabs. This loan has a fixed margin of 20% on term loans and need collateral asset to support the loan.
  • To be used as working capital, a fixed margin of 25% is applied and the security asset is in the form of book debts.

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