Know about the Finance and Investments Terms

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 allow you to manage the loan well. 

• While, taking a loan of high value make sure to get an insurance along with it. This will allow you to pay off the loan even if something happens to you as a borrower so the insurance policy can take care of it. 

• Do not fall for marketing tactics from fake lenders who claim to provide the loan on 0% EMI. Usually, the lender will charge a heavy processing fees with additional charges to compensate the charges. 

Also Read: Eight Golden Rules to Follow when Taking a CA loan