A Step By-Step Guide On How to Get a Chartered Accountant Loan For Starting a Firm

Published on December 8, 2017 By , 0 Categorised in:


Chartered Accountants are responsible professionals who either work for a good organization or have their own firm. At times, CAs who have an office or who want to set up their firm, may need some financial assistance.

Nowadays, many lenders provide a Chartered Accountant Loan to CAs who have a good CIBIL score.

You may divert the loan amount to many usages such as setting up the office, maintaining the infrastructure, hiring employees and beyond.

While these loans are always available, most of the applicants do not know the end-to-end steps on how to get a Chartered Accountant Loan. Let’s help you out quickly!

Step 1: Determine your need for the CA loan

The purpose you’re taking a loan for, may help you decide a final loan figure that you can apply for
CA loans may help you in establishing a good CA firm
You may channelize the money to purchase inventories and get a team

Step 2: Opt for the right loan duration

Before deciding on a loan tenor, carefully understand your current creditworthiness
You will get a loan duration offer ranging from 1 year to 5 years from a lender

Step 3: Check your CIBIL score

Creditors will measure your CIBIL score before sanctioning a Chartered Accountant Loan
If you have a good score, your application will be approved hassle-free and fast
You will also chance upon to grab low-interest-rates if you maintain a decent credit score

Step 4: Compare all CA loan offers of multiple creditors

You can go ahead and try to lessen your monthly EMIs if you compare different rates of interest on offer by many lenders
These days, you can compare all the offers online

Step 5: Check out your creditor’s eligibility

Explore your loan candidature by checking the CA loan eligibility online
Keep all vital documents such as certificate of practice, income proofs, and ID proofs ready
If your documents are ready, you can opt for an EMI term based on your financial assessment

Step 6: Complete the Chartered Accountant Loan application form

You can pay your creditor a visit and complete the form filling procedure if you are not applying online
Want your loan application to be approved instantly and money in the bank in 24 hours? Fill a CA loan form online and fasten the process

Step 7: Make payment for the loan proceeding

Some creditors might ask you a fee when they are ready to transfer the loan amount in your bank account
A loan applicant might also pay a secure fee for availing the choicest loan offers
These are small and ‘once-only’ charges which you can pay online

The Bottom Line

So, if you are preparing to apply for Chartered Accountant Loan for a quick career progression to set up a firm of your own, there are many lenders available online to help you. Now that you know the steps to avail a CA loan, simply go online and apply today


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