If you are a Chartered Accountant and you need some emergency fund for a medical emergency, a family vacation, home renovation to accommodate extra space for setting up an own office, etc., you can always apply for a personal loan for Chartered Accountant. But, before you apply for a loan, you must be aware of certain things and create a checklist for yourself, so that you get the loan approval easily.
First, maintain a good credit score:
A credit score or CIBIL score reflects your credit history. The better you have maintained a good transactional history, you will have a better credit score. Generally, it ranges from 300 to 900. You must have a credit score of above 750 to get a loan approval. It is necessary for a loan application, as it shows your creditworthiness. Even if you do not have a good score, you can work on it for sometimes such as paying bills on time, not using too many credit cards, etc. and increase your credit score.
Second, your income should be adequate:
Income is the most important factor for a personal loan application process. You need to qualify the minimum income requirement for processing the loan application.
Read More :- Checklist for Salaried Chartered Accountants While Taking a Personal Loan
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.