Home Loan For Chartered Accountants

Chartered Accountants can have certain exclusive benefits when applying for a home loan. These may include lower interest rates, nominal processing fees, higher loan-to-value (LTV) ratios, and more personalised repayment plans. However, it is advisable to do thorough research and compare multiple options before finalising your decision. This is why Urban Money presents a detailed overview of home loans for chartered accountants, including the applicable features, eligibility criteria, required documents, interest rates, and other associated fees. We also provide available home loan schemes exclusive to chartered accountants, which help you pinpoint the most cost-effective credit option. Let’s scroll down to learn more.

Interest Rates of Home Loans for Chartered Accountants

Here are the expected interest rates of home loans for chartered accountants from certain major lenders in India:

Eligibility Criteria of Home Loan for Chartered Accountants

The following are the typical eligibility criteria regarding a home loan for chartered accountants:

• Age Limits: The applicants should be between 23 and 70 years old. 
• Work Experience: The applicants must have enough work experience, preferably 2 to 3 years. 
• Income Criteria: The applicants should be able to show a stable income history sufficient to cover the loan EMI. 
• Credit Score: The applicants should have a strong credit score, typically 700 or above. 
• Nationality: The applicants should be Indian citizens.

Home Loan for Chartered Accountants – Documents Required

Let’s examine the required documents regarding a home loan for chartered accountants:

• Identity Proof: Aadhar Card, PAN Card, Passport, Voter ID, Driving License, etc.
• Address Proof: Utility bills, Passport, Ration Card, Rent Agreement, etc.
• Professional Proof: Membership certificate from the Institute of Chartered Accountants of India (ICAI). 
• Income Proof: Salary slips or income certificates for the last three months, bank statements for the last six months, and income tax returns for the last two to three years. 
• Business Proof: For self-employed CAs, proof of business continuity for at least three years is typically required. 
• Property Proof: A sale deed, title deed, or any other legal property documents ensure the property has a clear title.
• Additional Documents: Duly filled loan application form and recent passport-sized photographs of the applicant.

Features and Benefits of Home Loan for Chartered Accountants

Have a close look at the expected features and benefits of a home loan for chartered accountants:

• Low Interest Rates: Chartered Accountants can get home loans at lower interest rates, making monthly payments more affordable.
• High Loan Amount: Banks offer higher loan amounts to Chartered Accountants, helping them buy their dream homes.
• Flexible Repayment Options: Loans come with flexible repayment terms, allowing Chartered Accountants to choose a plan that suits their finances.
• Special Schemes: Many lenders provide special schemes for chartered accountants, such as reduced processing fees and pre-approved offers.
• Longer Loan Tenure: Chartered Accountants can get longer loan tenures, thereby reducing the burden of monthly EMIs.
• Balance Transfer Facility: Chartered Accountants can easily transfer their existing home loans to another bank for better terms and conditions.
• Tax Benefits: Home loans offer tax benefits on both principal and interest payments, saving Chartered Accountants money.

Best Home Loan Schemes for Chartered Accountants

Here are some of the best home loan schemes available for Chartered Accountants from major lenders in India:

HDFC Bank Home Loan for Chartered Accountants

HDFC Bank offers a comprehensive home loan scheme tailored for Chartered Accountants. The interest rates are competitive, starting at around 8.70% per annum. The bank provides a streamlined application process with minimal documentation, ensuring quick approval and disbursement. Moreover, the loans are available for various purposes, including home purchase, construction, and renovation. HDFC Bank also offers flexible repayment options, allowing borrowers to choose a tenure that best suits their financial situation.

Punjab National Bank Home Loan for Chartered Accountants

Punjab National Bank offers home loans at competitive interest rates, starting from 8.50% annually. The bank provides special schemes for professionals, including Chartered Accountants, with minimal documentation and quick processing times. PNB’s home loan products cater to different loan amounts and purposes, such as buying a new home or renovating an existing one. Additionally, the bank offers flexible repayment tenures and various concessions, making it easier for Chartered Accountants to manage their finances while achieving their homeownership goals.

Axis Bank Home Loan for Chartered Accountants

Axis Bank offers home loans starting at 8.75% per annum with features like flexible EMI options and a simple online application process. The bank provides customised repayment plans and the option to choose between fixed and floating interest rates. Axis Bank also provides a quick loan approval process, ensuring a hassle-free experience. Additionally, the bank’s robust online management system allows borrowers to monitor and manage their loans easily. This makes Axis Bank a convenient and reliable choice for busy professionals like Chartered Accountants.​ 

State Bank of India Home Loan for Chartered Accountants

State Bank of India (SBI) offers home loans tailored for Chartered Accountants with interest rates starting at 8.50% per annum. The bank provides flexible loan tenure options of up to 30 years, making it easier to manage monthly repayments. The processing fees are competitive, and the documentation requirements are minimal, ensuring a simplified and quick approval process. One of the key benefits for Chartered Accountants is that there are no prepayment charges, allowing borrowers to repay their loans early without incurring additional costs. These features make SBI an excellent choice for Chartered Accountants seeking reliable and affordable home loan options tailored to meet their professional financial needs​.

Bajaj Housing Finance Home Loan for Chartered Accountants

Bajaj Housing Finance offers home loans starting at 8.60% per annum. The scheme includes high-value loan sanctions up to ₹5 crores, making it suitable for purchasing or renovating homes. Bajaj Housing Finance provides flexible loan tenures of up to 30 years and minimal documentation requirements, ensuring a smooth and quick application process. Additionally, they offer a doorstep document pick-up service, adding convenience for busy professionals. These features make Bajaj Housing Finance an attractive option for Chartered Accountants looking for substantial and flexible home financing solutions.

Home Loan for Chartered Accountants Fees and Charges

Here are the expected fees and charges of a home loan for chartered accountants: