Though personal loans are often enough to meet the immediate financial needs but, for professionals like Chartered Accountants, there is a choice for an exclusive CA Loan. In case, such professionals require funds for expanding their business or any other reasons, and chartered accountant loans have some direct benefits:
1. Easily fulfill your expenses with a CA Loan: Whether it's a wedding-related expense or you just need to renovate your house, you can always opt for these loans as CA loan interest rates are comparatively lower than that for personal loans.
2. Tailored eligibility criteria and easy documentation: If a CA is opting for a loan, then he must have an experience of at least 4 years and own an office or a house. The documents required are KYC related documents, certificate of practice, income tax returns and balance sheets, mortgage documents for collateral-based documents and photographs.
3. Pay off other debts with low-interest CA loans: If you have other higher interest loans due to be paid, then you should better opt for a CA loan and consolidate various debts using one EMI because CA loan interest rates will normally be less than your other loans.
4. Best for meeting your day-to-day expenses: The disbursed loan can be used for paying medical bills, enlarging your business capital, improving office infrastructure, etc. and that too without putting any extra strain on your normal budget.