There are various lenders that provide different types of loans as per your requirements. But, Bajaj Finserv has come up with a special type of loan, especially for Chartered Accountant professionals. If you are a CA professional, you can easily apply for a CA loan up to Rs. 35 lakhs. The best facility that is associated with a CA loan is the option of flexible repayment. You can avail the best facility of an interest-only Flexi loan, where you have to pay only interest as your EMI and not the principal amount. This may drastically reduce your EMI amount. For example: If your normal EMI (principal + interest) counts to Rs. 96K, then interest only EMI may be around Rs. 13K only.
This may help the applicant to repay their loan easily and the chances of becoming defaulter may also decrease. An applicant who cannot pay Rs. 96K as EMI every month may surely be able to pay Rs. 13K. This is one of the best CA loan repayment solutions.
In term loan, you are bound to pay the EMI including the principal and the interest. But, in flexible CA loan, you can use the money as per your requirement and repay only the portion you have taken as loan till date.
Even the tenor of the loan can be flexible for your convenience. The tenor of the loan can range from 12 to 60 months. This gives the option to repay your loan up to 6 times in a year.
The entire scenario of applying for a CA loan, getting approval and availing easy repayment facilities can be better understood with the help of a real-life example. How a professional Chartered Accountant Rajeev got facilitated by Bajaj Finserv CA loan and its flexible repayment solution, has been described elaborately in the article.
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.