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Most Important Points to Remember When Opting for a CA Loan

A loan is a financial advance which is offered by lenders so that borrowers can solve their short and long term financial needs depending on the type of loan being opted for. Loans have been made for almost every possible type and situation imaginable. However, there were no loans which were made keeping in mind the requirements of chartered accountants.
 
This is why lenders today have now come up with what is known as chartered accountant loans which have been tailor-made as per their needs. If you are a CA then you can surely avail these loans to meet your financial requirements. However, there are a few important points which you must remember before applying for chartered accountant loans. Here are a few of them -

Credit Score
 
Before opting for any kind of loan ensure that you check your credit score first. This is because many loan applications get rejected because they are unable to meet the credit score requirements. Your credit score is a three digit score which reflects how responsible you have been with your financial commitments. To be on the safer side your credit score should be 750 or more.
 
Eligibility Criteria
 
Just because a CA loan is available does not mean that you will be eligible for it. Moreover, if you apply for the loan and are unable to meet the eligibility criteria, then your loan application will surely get rejected. Thus, it is more than imperative to check the CA loan eligibility criteria before applying. If you are unable to meet the required eligibility by a particular lender then you can always try another.

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