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Complete Guide on CA Loan in India

Chartered accountants can apply for four types of loans in India – home loans, business loans, personal loans, and loan against property. Interest rates vary depending on the chartered accountant loan availed and individual’s credit score. Most financial institutions offer lower interest rates to applicants with a credit score higher than 750.

CA loan interest rates in India

The following are the interest rates on the various chartered accountant loans available in India –

Home loans: Interest rate applicable on home loans for chartered accountants in India is within 8.5% - 9%.

Business loans: Business loans are unsecured loans and therefore attract an interest rate of 14 - 15% in India.

Loan against property: This type of loan for chartered accountants in India attracts an interest rate of 9.5% - 10%.

Personal loan: In India, personal loans for chartered accountants are offered with an interest rate of 14% - 15%.

Along with the interest rate, an additional 1% - 2% is charged in the form of processing fee. It is a one-time fee which is levied during the time of loan approval. If you want to avail the Flexi loan facility on these loans, an additional 0.25% interest rate is applicable on the same.

A Flexi loan facility allows you to withdraw from the loan account any time you prefer and pay interest only on the withdrawn amount.

Similar to interest rates, the loan amount also differs with the type. Depending on the type of chartered accountant loan, you can avail advances ranging from Rs. 25 Lakh to Rs. 2 Crore.

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