Fortunately, with a range of CA loans, specifically designed for these individuals, funding is never a major challenge. CA loans are categorized into four classifications, namely personal loans, business loans, home loans and loans against property for chartered accounts.
Regardless of the loan types that one chooses, suitable utilization is the key to optimal profitability for borrowers. For instance, personal loans can help chartered accountants acquire up to Rs.25 lakh as principal, which they can utilise for various funding needs. For instance, one can use this sum to fund a wedding or child’s education.
Specialized housing finance in the form of home loans and loans against property are also available to eligible CAs. With the former, one can acquire his/her dream property conveniently. A loan against property, on the other hand, provides an end-use free credit of up to Rs.2 crore to eligible applicants.