Personal and professional loans serve different purposes today in the financial and business sectors. Gone are the days when you had to sit back due to a lack of funds to start a new business or to upscale yourself. The professional loans can be availedby professional Chartered Accountants, doctors, engineers, dentists, company secretaries, lawyers, architects, management consultants, etc. On the other hand, a Personal Loan can be taken by everyone including these professionals and anyone else, who fulfils certain basic criteria. A Chartered Accountant can obtain a loan for expansion of office space, securing operating costs, installation of equipment, hiring staff, etc. Many financial institutions and banks lend unsecured Personal Loans to Chartered Accountants.
A Personal Loan could be disbursed to any individual with a good CIBIL Score and repayment history. The loan amount varies from borrower to borrower. The interest rate on these loans extended to Chartered Accountants could be lower than the interest rate for others, if the Chartered Accountant can exhibit steady income and good business vintage
Many lenders offer personal loans to chartered accountants, considering their financial position and unique needs. Features of these loans include long repayment tenor and quick disbursements. They adapt well to business goals such as extensions, software integration, skills development, hiring, as well as personal goals such as home improvement, and debt consolidation.
Since CAs are among the most financially stable professionals, the risks involved in lending are low and this results in they are gettinga competitive interest rate. To get an online personal loan, a chartered accountant only needs to meet the simple eligibility criteria, specified by the lender. Then, to support the eligibility, he/she must provide a basic set of documents, and usually, these can be uploaded online.
A CA with a well-established practice has a stable or growing income level, and financiers take this into account when offering CA loans. Hence, these loans are extended without claiming any property as collateral.
You can get a good loan amount and provide funding for business needs such as upgrading your hardware/software programs, training your employees, or personal goals such as home remodeling or a vacation. On the personal front as well, a CA can use the loan for their child's higher education, or for completing certain life goals.
Poonawalla Fincorp is one of the leading non-bank financial institutions in India. CAs can take out personal loans from Poonawalla Fincorp because these loans come with a few attractive benefits. When it comes time for you to get a personal loan, make sure you get the best out of the market. The features offered to you should have all the benefits of a personal loan. This is exactly what you get when you choose Poonawalla Fincorp Personal Loan. Easy access, online delivery, complete transparency, and simple terms are just a few of the many benefits we offer our borrowers.
To facilitate quick online loan access, Poonawalla Fincorp has easy and easily accessible terms. The suitability of a personal loan and the requirements of the document are simple and basic and therefore no stress at all. As long as you save money and have a good credit history in the past, you can enjoy quick and easy approval.
- The age should befrom 22 years at the time of applying for the loan and 58 years at the time of the maturity of the loan.
- Applicants must be a citizen of India
- Applicants must have a full-time job in a public / private company or LLP
- Applicants must have at least 1 year work experience and have at least 2 months permanent employment on the current job
In order to make the loan process easier, you only need to submit the basic credentials for the personal loan. This feature of the Poonawalla Fincorp Personal Loan is one of the many reasons why it is such an easily accessible contribution. It makes loan processing and verification much faster and helps us to approve your application without delay.
Qualifying for the Poonawalla Fincorp Personal Loan is easy and inefficient. You do not have to meet a long list of loan eligibility requirements to get approval. This makes the loan easier to access and process, thus reducing the delay that may affect borrowing.
All applications are evaluated based on 5 key criteria, namely:
- Work experience
- The employer category
- Monthly income
A Personal Loan can go a long way if planned and catered to properly. It’s very important to evaluate and analyze your needs before going for a loan. Also, knowing one’s repayment capability puts one in a comfortable spot while paying the loan back. Personal loans can come in handy for professionals as well.
Personal loans are one of the widely used funding methods that aid millions of people through difficult times.
We all need financial assistance at some point in time. A loan extends the financial leverage that is required while dealing with various financial difficulties.
Loans have made our lives easier and simpler. From home loans to car loans to business loans, many types of loans are available in the market to cater to your different needs.
What, if your CIBIL score is high? Why the CIBIL score is so important? If you are looking for answers to these questions, weâ€™ve got the answers ready for you. A credit score is a 3-digit score given by any of the credit bureaus - CIBIL, Experian, Equifax or CRIF High Mark, based on your past and present credit behavior.
When you apply for a Personal Loan against your CIBIL score, the financial institution looks at several variables to consider your eligibility. Your credit score is one of the essential factors in this equation.