If you are a chartered accountant and in need of finances but do not know where to look for, loan against property for CA can be a potential option. As a professional, you need to meet various expenses, be it for business or personal goals. In that case, loan against property can come to your rescue.
What is a loan against property?
It is a secured loan which you can avail by mortgaging a residential or commercial property to a financial institution. You can get a loan of up to 60-70% of the market value of your mortgaged property.
A loan against property tailored to suit a chartered accountant’s needs comes under CA loan. Bajaj Finserv, a prominent lending institution, offers this professional loan to qualified CAs for meeting business and personal needs.
Now, take a look at why loan against property for CA is a quick and easy way to raise money.
I. Substantial amount
You can get a considerable loan amount depending upon your property’s market value. With a higher value of your property, you can get up to Rs.2 Crore from institutions like Bajaj Finserv which you can use as per your need.
II. Quick approval and disbursal
You get smooth and hassle-free approval and disbursal of the loan within 48 hours.
Apart from this, you may want to avail any other professional loan for CA with a lower amount and aim at more specific needs like business investments. Approval of these loans may take some time. In that case, it is better to know some quick ways for getting your CA loan approved. It will help you to prepare before applying for one.
III. Long repayment tenure
You get long repayment tenure of up to 20 years if you avail a loan against property for CA from Bajaj Finserv. Hence, you can comfortably repay your credit amount in EMIs.
IV. Continuance in the usage of the mortgaged property
One benefit of availing this loan is that you get to use your property even after mortgaging it. The lending institutions allow you to keep it in your possession. Reside in it if that’s a residential property or use it for a business purpose if that’s a commercial one.
V. Low-interest rate
Loan against property is a secured loan which attracts a low-interest rate as compared to unsecured loans. This is because it does not carry any risk of loss to the financial institution.
The CA loan interest rate charged by Bajaj Finserv is only 9.5-10% which is relatively low. You can also avail this loan with a minimal processing fee of 1%.
A few areas where CAs can use loan against property with ease:
Since the credit amount from loan against property for CA does not come with any specific end use, you can use it for various purposes including:
● Setting up a new business or expanding your existing trade or business.
● Spending on overseas education or marrying off your children.
● Going on medical tourism.
● Financing family tours and travels across the globe, etc.
Thus, CA loan against property is a comfortable option of raising finance from lenders.
Apart from this, lenders like Bajaj Finserv also offer loans to CAs with pre-approved offers and features like quick processing and minimal documentation to make the process easy and less time-consuming.
These pre-approved offers also cover products like home loan, business loan, personal loan and other financial services as well as financial products. You can check your pre-approved loan offer by providing a few simple details.
Hence, it’s clear to you why a loan against property for CA is a convenient and fast process to raise money. Apply for one and meet your monetary requirements conveniently.