If you are planning to apply for a CA loan, you must ensure you know the prerequisite conditions. Knowing them and assessing your loan application to find out if the two are in accordance with each other helps improve the chances of loan approval. So, if you are ready, here are 5 things you must know before applying for a CA loan.
Purpose of loan: Talking about CA loan, it can be taken only for specific purposes mentioned in the agreement. Hence, be very clear about what you want to fund with the loan for chartered accountants, and see if it is listed as a legitimate use of the loan.
Repayment tenor: Usually, the average tenor of a CA loan ranges between 12-60 months but the borrower always has the choice to decide the repayment tenor according to his financial status. So, assess your finances and come up with a fitting repayment tenor.
Also Read : CA Loan Terms to Know Before You Apply
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.