Chartered accountants are self-employed individuals, which means that they are responsible for growing their firm and meeting targets. Even with a structured plan for implementing this, one must also possess the necessary amount of finances. Taking a personal loan may seem like the best choice for growing your business, but they may not be apt for yourl requirements. One can instead opt for professional loans or loan for CA to meet their needs.
Loan for CASnneha Lukka july 6, 2019
Below are the options for anyone who is looking to take loan for CA:
1) Business loans:
In order to keep your company flourishing, one will need to get access to funds for important investments that will drive the growth of your firm. One can avail a business loan for chartered accountant as it is specifically designed for CAs. Additionally, they are also collateral-free loans that can be repaid over 5 years.
2) Personal loans:
Taking a personal loan for CA can be used for a variety of requirements such as paying for medical expenses, high bills, children’s education fees or even taking an international holiday. By taking a personal loan for CA, you can gain access to funds of Rs. 35 lakhs at low interest rates. The funds will allow you to pay for your expenses while allowing your savings and investments to remain intact. You can choose a suitable repayment tenure from 6 months to 5 years depending on your needs.
3) Home Loan:
Should you decide to purchase a house, you’ll discover that the cost of buying a home (especially in metro cities like Mumbai) can run up to crores. In order to finance such a large expense without depleting your personal savings, you can avail a home loan for chartered accountants. These loans can be repaid over 10 years, and can also be used to finance additional real estate related costs.