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Best Way to Obtain a Chartered Account Loan

Financial institutions including NBFCs (Non-Banking Financial Institutions) are constantly trying to broaden their portfolio by offering products which cater to the needs and requirements of every individual. One such finance option is chartered accountant loans in India.

There are various types of loans which are available for chartered accountants. These include -

  • Personal loan for chartered accountants
  • Business loan for chartered accountants
  • Home loan for chartered accountants
  • Loan against property for chartered accountants

There are a number of lenders who offer loan for professionals having simple eligibility criteria and requiring minimal documentation. This makes the entire process quick and hassle-free.

If you are a charted accountant and looking for a personal loan, then here are some points to remember to help you get that financing for sure -

Ensure that your credit score is around 750 or more. This is because a credit score is one of the first aspects which lenders check for when determining whether the applicant is worthy of the loan or not. The higher the credit score, the more credit-worthy you are and also helps you get a lower interest rate.

Required Documents

Ensure that you keep all the documents handy when applying for a chartered accountant loan. Some of the documents which are needed include -
  • KYC documents - Aadhaar, Voter ID, Passport, PAN Card, Driving Licence, etc.
  • Address Proof - Latest electricity/telephone/gas/water bill, house rent agreement, or any KYC document having your permanent address
  • Bank Account Statements
  • Income tax returns
  • Balance sheet
  • Certificate for the practice being active for 4 years

These documents are just indicative as some lenders may require for additional documents.

Lastly, apply for a loan amount exactly as per your needs. The best way to ascertain how much loan you need is by using a loan eligibility calculator which most lenders offer on their website these days.

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