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Best Use of Loan Against Property for Chartered Accountant

Best Use of Loan Against Property for Chartered Accountant

Whether self-employed or salaried, Chartered Accountants (CAs) in India get a specialised on house property. Banks and NBFCs offer few additional features to CAs as compared to other applicants.

NBFCs provide Chartered Accountants Against Property that has no end-use restrictions and can be used in multiple ways like opening a new office, paying for their children’s education, buying a new plot, or making any other high-value purchases. They provide loans up to Rs.2 Crore and will approve an application within 48 hours. Tenure of such loans will range from 2 to 20 years.

This NBFC also requires minimal eligibility criteria for sanctioning such a ; a CA only needs to hold a Certificate of Practice (COP) that is valid for a minimum of 4 years. In addition, they also need to own a house or office and have updated IT returns/balance sheet/P&L Statement for the last 2 years.

With such minimal requirements, a CA can avail a against property (LAP), which he/she can use in multiple ways.

Some of these reasons include:

An easy way to consolidate debts, i.e., pay off credit cards dues, EMIs, and other liabilities is through LAPs. The Loan Against Property Interest Rate is lower and has flexible tenures which make them ideal for debt consolidation.

Being an owner of a firm, CAs require a steady cash flow for ensuring a hassle free operation of their business. So, when faced with a shortage of funds, a on house property can fulfil the needs of a working capital deficit. It can continue to pump lifeblood to the business and ensure that all day to day activities remain under constant operation.

Be it a Chartered or any other individual, weddings in India incur significant charges. However, courtesy to the presence of a LAP from reliable financial institutions like Bajaj Finserv, every big fat Indian wedding dream can now be a reality.

The growth of a firm is directly proportion to its escalated market reach. However, gaining a significant market reach invariably depends on timely business expansions. And for that, a CA requires a new office which in turn demands new employees, stock and inventory.

Under such circumstances, availing a on house property can help a CA in procuring the necessary funds required for initiating his business expansion as well as market capitalization.

In spite of having a property as asset, often individuals look to increase their real estate hold; under such circumstances a against property precisely meets the demand. With financing up to Rs.2 crore, long-term tenures, and attractive rates of interest, getting hold of a real estate becomes a convenient task for a Chartered .

Carrying out home renovations can call for significant investments. Turning it into an ultra-modern abode can be a bit problematic without substantial monetary support. Moreover, when it comes to constructing an additional space or a new floor, the funds required may often overstep your budget.

So, getting the opportunity to avail Loan Against Property for CA especially from financial institutions like Bajaj Finserv and make the necessary renovations to transform their house into a dream accommodation.

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  1. […] not at all like different mortgage, in the event that you have just overpaid, you can pay less on the off chance that you hit a […]

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