Two years after operating my own CA firm in New Delhi, there was a need for a bigger space and a much bigger team. I had no doubt worked day and night to reach the peak, and it was time to expand everything. However, even though I thought I had enough funds, they still weren’t much to complete the total project. This was when one of my employees told me about a ca loan.
Trust me. It is one of the best financial help you can opt for as it helps you use the funds without being tied to an end goal.
What is a Ca loan?
This type of loan is a great assistance as it helps you expand or even work towards improving your personal life. For a better understanding for all the readers, the loans for chartered accountants basically give access to the funds without having to meet the extensive eligibility criteria or fill out loads of paperwork. Moreover, they are much easier and faster than regular loans, and some providers even offer them within 24 hours.
Furthermore, once you get this loan, there are convenient facilities such as flexible repayment, doorstep service, and easy part-prepayment options.
What are the benefits?
Immediate fund availability
It provides the required amount quickly, unlike the regular type of loan, where the waiting period is generally long. Moreover, some lenders even give the amount within just one day.
Access to collateral-free funds
It is a well-known fact that financial institutions have designed loans considering the needs of practicing chartered accountants. Now, major institutions provide CAs with a loan without requiring any collateral. Furthermore, a guarantor is not essential either. So, all in all, a CA can receive and utilize the funds without them being tied to an end goal.
Online fund management
In the current era of digitalization, there’s no point in running around for loan statements. Having information handy in real-time is very significant. So, choose a lender that allows you to access these details easily. In my personal experience, I’ve opted for a loan for ca via the Bajaj Finserv app. I efficiently manage my funds with just a few taps on my smartphone.
Some lenders offer you a Flexi loan to make your finances more manageable. Here, you can make multiple withdrawals and deposits against the credit limit. Remember, here the interest is charged only on the used amount. Moreover, you can also choose to have your monthly EMIs constitute only the interest, with the principal amount to be repaid at the end.
How to get a loan for ca?
With applications such as Bajaj Finserv Application, things have become much easier. I’m not promoting any brand or organization here but just sharing my personal experience. So here is a step-by-step guide on how I availed it.
> Download the official Bajaj Finserv application on your smartphone from the App Store or Play Store.
> Sign up
> On the home page, you’ll see the ‘Loans’ section below the search bar.
> Tap on it and go to ‘Loan for Chartered Accountants
> Enter the required information.
> You are good to go!