Whether it is to set up a new office, hire additional staff, pay a deposit to the caterer when planning your child’s wedding or renovating your home to reinforce it for the monsoon, you may need funds quickly to meet a host of professional and personal needs. In such a scenario, getting the right amount of funds, on time, is key.
Bajaj Finserv understands that you may need funds urgently. So, with its suite of Loans for Chartered Accountants, it allows you to borrow funds whenever a need arises and repay at your convenience.
Take a closer look at why a Flexi Loan for Chartered Accountants from Bajaj Finserv is an ideal funding solution for your needs.
Enjoy flexibility on all CA loans
Bajaj Finserv’s suite of Loan for Chartered Accountants includes a business loan, personal loan, home loan and loan against property. As a result, you have the option to avail the Flexi Loan facility when you take any one of these 4 loans.
Withdraw funds as you go
Often, you may not exactly know how much money you will need. For instance, your firm could meet a sudden cash crunch and would need to restore the health of its cash flow. At other times, you may find that you need money periodically. For example, if you are renovating your office, you may have to pay the contractor in advance, during construction, and the balance amount once the job is complete.
To facilitate such needs, Bajaj Finserv allows you to borrow funds as and when you need them. You can borrow from the total sanction in parts as per your requirements. So, assuming your total sanction amount is Rs.25 lakh, you may withdraw Rs.5 lakh to pay the contractor an advance, Rs.1 lakh while the project is underway, and a final payment of Rs.1 lakh once the renovation is complete.
Pay interest only on the amount that you withdraw
Unlike other loans where you pay interest on the total principal amount when you take this loan, you only have to pay interest on the amount that you withdraw. So, continuing with the earlier example, when you first withdraw Rs.5 lakh, you will pay interest only on this amount and not Rs.25 lakh. Then, when you withdraw Rs.2 lakh (total) thereafter, you will pay interest on Rs.7 lakh. The balance Rs.18 lakh will be interest-free until you decide to use it.
Repay the loan conveniently
Bajaj Finserv ensures that repayment is never a hassle when you choose one of its loans. This is why, for unsecured loans, you can choose a tenor between 12–60 months, and for secured loans, you can choose a tenor of up to 240 months. So, you can select a term as per what is convenient for you based on your financial situation.
But, the most important repayment benefit that Bajaj Finserv Flexi Loans for CAs offers is that you can repay the loan in the form of interest-only EMIs through the tenor. Then, at the end of the repayment period, you can repay the principal amount. You have the provision to withdraw, repay, and redraw money multiple times during the tenor, without incurring any part-prepayment charge. In addition, if you run into surplus funds, you can make prepayments towards the principal amount and get debt-free even quicker.
Pay significantly lower EMIs
Not only does the choice of paying interest-only EMIs make repayment hassle-free, it also benefits you as you end up paying up to 45% less on monthly loan payments.
Apply easily and get funds in an instant
Like all other Bajaj Finserv loans, this Flexi Loan comes with easy application too. You only have to fill a short form and submit basic documents to apply. Then, once verification is complete, you can receive funds in as less as 24 hours. Also, each time you wish to withdraw from the total loan amount, you can do so without filing a separate application. You can easily request funds online, via your online loan management account.
For the ultimate flexibility in your borrowing experience, choose any one of Bajaj Finserv’s Loans for Chartered Accountants. A Flexi Loan will ensure that you can attend to your needs in a timely manner, without compromising on other aspects such as the interest rate or repayment tenor.
To know more about a Chartered Accountant Loan from Bajaj Finserv, click here.