• Loans for Chartered Accountants

    We all know personal loans serve a wide range of benefits such as consolidating debt or meeting miscellaneous expenses. However, when looking at expanding one’s scale of operations, a personal loan may not be the optimal choice. For working professionals such as Chartered Accountants, loans to scale their operations come in the form of professional loans, or in this case, known as Business loans for professionals. Some of the more popular loans for Chartered accountants and their features are mentioned below.

    HDFC Loans for Professionals

    • The borrowers can find out their in-principle loan eligibility in under a minute and provides the borrowers with the convenience of SMS, Phone Banking, Webchat and Click2talk.
    • The loan amounts can go up to Rs 20,00,000 and in some cases, based on the location, loan amounts can go as high as Rs 50,00,000. The loan offers flexible tenure options with the minimum tenure being 12 months and the maximum being 60 months.
    • The loan comes with a credit protect insurance plan. This policy prevents the financial burden from passing onto family and loved ones in the unfortunate case of demise of the borrower.
    • HDFC loans for professionals also allow borrowers to transfer existing professional loans and charge preferential interest rates of 12.99% p.a. on existing loan transfers as well as low processing fees of 0.99% of the loan amount.

    Corporation Bank Corp CA

    • This loan from Corporation bank is specifically designed for Chartered Accountants. The borrowers could be individual CA’s or working in a proprietorship concern or partnership firm. The age of the borrower must not exceed 65 years.
    • Borrowers must not have appeared in the RBI Defaulters List and in case the loan has been availed by a Firm, then all partners will have to be signed on as co-applicants.
    • The loan can be used for constructing new office premises, acquiring office space, to provide working capital, and cover other miscellaneous costs such as furnishing and fixture of equipment.
    • Loan amounts of up to Rs 1 Crore can be availed at an interest rate of 12.35%. For loan amounts exceeding Rs 1 Crore, the interest rate levied will be as per gradation applicable for SME’s. The loan has a uniform margin of 20% on term loans and require assets acquired outside the loan to be used as collateral.
    • For working capital loans, a margin of 25% is applicable and the security required for such loans is the assignment of book debts or receivables.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    This Page is BLOCKED as it is using Iframes.