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September 03, 2019
Chartered accountants can avail specific benefits while taking a professional loan. If you are a chartered accountant and are looking to apply for a professional loan, this post will give you an idea of essential facts you need to know first. A CA is eligible for both secured as well as unsecured business loans.
Secured Loan
When you avail a secured business loan for self-employed, you will be placing collateral with the bank in exchange for the money borrowed. The collateral can be your property, vehicle or any other assets that the lender accepts. As a secured loan is less risky for the lender, availing this kind of loan has a relatively easier process. Also, interest rates can be lower.
Unsecured Loan
A loan that is given without accepting any collateral is an unsecured loan. If your credit history is good and you have a good history with the lender, you can avail an unsecured loan, which is less risky for you. However, the interest rates could be higher than secured loans. Also, the amount that you can borrow will be less than that you can avail in a secured loan.
When you talk to your financial advisor, understand the pros and cons of both the types of professional loans for chartered accountants before you apply for one.
Documents to Submit to Avail a Business Loan for Self-Employed
The documents that you need to submit while applying for a professional loan for chartered accountant are:
1. Fully-filled application form
2. Valid identity proof
3. Address proof
4. Age proof
5. PAN Card
6. Property ownership proof
7. Certificate of CA Practice
8. Form 16
9. Income Tax Returns for the past 3 years
If you are looking to avail a professional loan for a chartered accountant, Nitstone Finserv is the best option for all your requirements. Nitstone Finserv is one of the non-banking finance companies in India that helps provide customised financial solutions to chartered accountants and other clients. We serve the Indian economy using our lending and financing expertise. Our experts use the latest technology to suggest systematic and strategic answers to overcome them.
Our loan application requires minimal documentation and paperwork, and we guarantee quick and efficient services, with loan approval granted instantly. You can apply for a professional loan by filling a form online and get instant approval. We offer low-interest rates and charge a minimal convenience fee so that you can finance all of your dreams and requirements without any hesitation. If you want to know more about professional loan for chartered accountant, contact us for more information.