Introduction
CAs are considered as the most eligible professional people with secured independent income and financial expertise hence the best candidates for home loans.
faster approvals, and more flexible loan terms hence, the ideas of ARF. Duly given their stable jobs and reputation, most of the CAs are availed customized loan facilities that suit them to facilitate their expansion projects for their preferred homes. This is because lenders consider CA as their preferred clientele since they understand that the loans offered will take a shorter time to be processed and the benefits suit to fit the need of the financiers.
Why Chartered Accountants Are Ideal Home Loan Applicants
- Stable Income: Lenders are protected from Chartered Accountants since their income is relatively steady and high.
- Low-Risk Borrowers: As a result of this, CAs are considered as low risks and more often they get a better deal in terms of borrowing.
- Professional Recognition: Most of the lenders offer CA home loan products, because they are aware of the high professionalism and credibility.
Chartered Accountants Loans Benefits
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- Loan Amounts: Originally, CAs can borrow up to 90% of the property value, depending on the type of property and sometimes even more if the borrower hires a guarantor.
- Interest Rates: As a result of this, CAs may be offered lower interest rate charges than other applicants, according to the credit analysis risk profile of the CA.
- No Leander Mortage insurance: Lenders do not impose LMI on covenants where the deposit in the CA is less than 20% many a times the LMI is waived.
- Recovery Options: Those that undergo face extended loan tenures and attractive repayment terms to suit the CA’s financial management strategies.
Options for Loans / Banks / NBFCs
| Banks /Nbfc | R.O.I | Processing Fees | Loan
Amount |
Cibil Score | Apply Now |
| HDFC Bank Home Loans | 8.45% – 10% (Reducing Per Annumn) | 0.5% – 1% | 5.00 Lacs and above | 650 or above | https://referloan.in/loans/hdfc-bank-home-loan |
| Kotak Bank Home Loan | 8.75% – 10% (Reducing Per Annumn) | 0% – 0.25% | 20.00 Lacs and above | 700 or above | https://referloan.in/loans/kotal-bank-home-loan |
| Bank of India Home Loan | 8.5% – 10.75% (Reducing Per Annumn) | 0.5% – Rs.10000 | 10.00 Lacs and above | 675 or above | https://referloan.in/loans/bank-of-india-home-loan |
| Canara Bank Home Loan | 9.25% – 13.8% (Reducing Per Annumn) | 0% – 0% | 10.00 Lacs and above | 675 or above | https://referloan.in/loans/canara-bank-home-loan |
| Aavas Housing Home Loan | 9.9% – 18% (Reducing Per Annumn) | 1% – 1.5% | 25.00 Lacs – 5.00 cr | 650 or above | https://referloan.in/loans/aavas-bank-home-loan |
| Bajaj Housing Finance Home Loan | 8.45% – 10% (Reducing Per Annumn) | 0.2% – 0.5% | 5.00 Lacs – 75.00 cr | 650 or above | https://referloan.in/home-loan/bajaj-housing-finance |
| PNB Housing Home Loan | 8.75% – 14% (Reducing Per Annumn) | 0.25% – 0.5% | 5.00 Lacs – 20.00 cr | 625 or above | https://referloan.in/loans/pnb-hfl-loan-home-loan |
| Shri Ram Housing Finance Home Loan | 11.5% – 13% (Reducing Per Annumn) | 1% – 1.25% | 10.00 Lacs – 1.00 cr | 650 or above | https://referloan.in/loans/shri-ram-housing-finance-home-loan |
| We Rize Home Loan | 10% – 18% (Reducing Per Annumn) | 0.5% – 1% | 5.00 Lacs – 75.00 Lacs | 650 or above | https://referloan.in/loans/we-rize-home-loan |
| Mahindra Finance Home Loan | 9% – 15% (Reducing Per Annumn) | 1% – 3% | 3.00 Lacs – 75.00 Lacs | 650 or above | https://referloan.in/loans/mahindra-finance-home-loan |
| Capri Global Bank Home Loan | 9.5% – 15% (Reducing Per Annumn) | 1.25% – 1.5% | 10.00 Lacs – 1.50 cr | 650 or above | https://referloan.in/loans/capri-global-home-loan |
| Tata Capital Home Loan | 8.6% – 11% (Reducing Per Annumn) | 0.2% – 0.5% | 30.00 Lacs – 7.00 cr | 750 or above | https://referloan.in/loans/tata-capital-home-loan |
| Aditya Birla Home Loan | 8.9% – 11% (Reducing Per Annumn) | 0.5% – 1% | 25.00 Lacs – 25.00 cr | 675 or above | https://referloan.in/loans/aditya-birla-home-loan |
| Piramal Finance Home Loan | 10.5% – 14% (Reducing Per Annumn) | 1% – 1.5% | 30.00 Lacs – 5.00 cr | 650 or above | https://referloan.in/loans/piramal-finance-home-loan |
| Satin Housing Home Loan | 11% – 18% (Reducing Per Annumn) | 2.5% – 3% | 5.00 Lacs – 1.00 cr | 700 or above | https://referloan.in/loans/satin-housing-home-loan |
| Indiabulls Finance Home loan | 9.4% – 10% (Reducing Per Annumn) | 1% – 1.5% | 20.00 Lacs – 5.00 cr | 675 or above | https://referloan.in/loans/indiabulls-finance-home-loan |
| Federal Bank Home Loan | 8.5% – 10% (Reducing Per Annumn) | 0.5% – Rs.15000 | 50.00 Lacs – 20.00 cr | 675 or above | https://referloan.in/loans/federal-bank-home-loan |
| IDFC Bank Home Loan | 8.85% – 9.25% (Reducing Per Annumn) | 1% – 1.5% | 10.00 Lacs – 5.00 cr | 680 or above | https://referloan.in/loans/idfc-bank-home-loan |
| ICICI Bank Home Loan | 8.6% – 10% (Reducing Per Annumn) | 0.25% – 0.5% | 50.00 Lacs and above | 700 or above | https://referloan.in/loans/icici-bank-home-loan |
General Eligibility and Document Required for This Type of Loan
Eligibility
- Professional Qualification: Must possess recognized relevant certified Chartered Accountant qualification.
- Minimum Income: As a general rule, a minimum annual income, that might amount to ₹15 lakhs, is generally expected.
- Credit Score: A record credit score which is above 700 is normally regarded as good.
Documents Required:
- Proof of Identity: PAN card, Aadhaar card.
- Address Proof: any utility bill or rent agreement.
- Business Proof: Registration certificate, the business license.
- Bank Statements, Bank Statement, Income Tax Return and Profit Loss A/c
How Referloan Can Help
ReferLoan is among the rapidly advancing businesses of the Indian nation. It serves all sorts of financial needs through banking and non-banking segments where it interconnects the clients as per the need.
This is how ReferLoan can help!
- Competitive Interest Rates: Referloan provides home loans at attractive interest rates and hence enable customers to reduce their total interest expense over the period of the loan .
- Minimal Documentation: The process of application does not involve much paper work hence it is easier and less time-consuming as compared to other processes.
- Quick Approvals: Getting a home loan through Referloan has been made easier as it offers instant approval and thus cuts across the time one has to wait for the loan to be processed.
- Flexible EMIs: When lending customers money they give reasonable EMI cycles that will not burden your wallet.
- Wide Range of Lenders: In this regards, Referloan helps you to contact many various loan providers and find the most suitable offer for you.
Frequently Questions
- What makes chartered accountants qualify for special home loan discounts?
CAs are believed to be financially sound and less risky because they are professionals, have a regular revenue flow, and have a high credit rating to avail special home loan deals at lower interest rates and manageable tenure.
- What documents are needed while applying for home loan in India as a Chartered Accountant?
CAs typically need to submit:
Identity and address proof
Income tax returns for the last two to three years paternal leave during the qualifying period of the proposed child care facility apply.
Statement of financial position and statement of income and expense
Professional qualification certificate is another name for certification.
Property documents
- What special privileges does Chartered Accountants get on home loans?
This is true; many lenders empower the CAs with additional benefits such as, concessional interest rate, faster processing time, easy repayment scheme, and collateral free high funds eligibility because of sound financial background.
- When the loan limit for the given profession is mentioned as £500,000, how much can have Chartered Accountants borrow at most?
Market rules dictate that the loan size depends on the applicant’s income, credit rating, and the property’s value. The reason CAs get a better loan to value ratio from the lenders is because they are financially reliable.
- To what extent can the Chartered Accountants take advantage of the available EMI flexible options?
Yes, CAs can opt for different EMI options to do timely repayments against their income, to control the monthly installment.