Know about the Finance and Investments Terms

Chartered accountants require a wide variety of loans and for a plethora of reasons. This can be for expanding the practice, acquiring new office space, bringing in new technology, making payments, or meeting personal goals which can be a vacation, home renovation, education, or weddings.

Realizing this need, a number of lenders have come up with finance options by the name of loans for chartered accountants which have been tailor made for the needs and requirements of CAs. These loans have affordable interest rates, require minimal documentation, have an easy eligibility criteria, and above all have a comfortable repayment tenor. Furthermore, CAs also get the option of making flexi payments which gives them the liberty of paying only the interest of only the amount which they use out of the total amount sanctioned. This ensures that the installments remain affordable. 

However, before you opt for a chartered accountant loan, here are a few important pointers that you must remember - 

Chartered accountants are the backbone of a sound financial entity. With time, various experienced lenders have started offering custom suite finance for these professionals. Its suite consists of personal loan, home loan, business loan and loan against property to manage an array of financial needs. 

Understanding on what grounds the loan can be provided can save you from a lot of disappointment and even get your application approved, in time - 

• Debt-to-income-ratio: while reviewing your loan application lenders take into account your debt-to-income ratio. Where, the ratio must be 43% as the maximum debt-to-income ratio you can have. Additionally, the 36% rule mentions that your DTI should never pass 36%. 

• Credit score: all you need to do is to pull out your credit report to know your rating. You can do so online without the help of your financial advisor. Usually, a good score of 750+ or more is needed to avail a preferable loan amount. With a good score you can even avail a loan on

It won’t be wrong to say that your paycheque makes you eligible for finance. Being a chartered accountant who else can understand this saying better. In recent times with an increasing number of lenders flushing out funds to CA professionals it has become imperative for fund seekers to explore their options well.

In this context, here are the thumb rules for managing a CA loan - 

• To avail a substantial loan amount make sure to know everything that is about the chosen lender. Take time to compare various lenders online. This will you find the lender which offer can offer you the best finance for your needs. 

• Discuss the loan in detail with your Relationship Manager. Once you explicitly disclose what exactly you need the loan for your lender will be able to guide you with the easy repayment options. For instance, while applying you can make use of the exclusive pre-approved offers on the loan. These could be getting the CA loan at a lower rate of interest, lengthier tenure etc. which will