Chartered accountants provide vital support to streamline the financial management of a firm. They are the essential cogs in the wheel of every business or enterprise to plan, streamline and execute targets right from the monetary basics.
As a CA, you are a strong mediator for balanced financial administration and supervision to ensure a sound financial future. Availing a personal loan for chartered accountants has to be a pre-planned step with financial positives. But instead of a typical business audit, these loans are supposed to be for your personal life.
As per ICAI, there are more than 2.5 Lakh CAs in India. With the current average remuneration for CAs around 7 LPA, you are already among the highest salary medians by profession. Higher income slabs directly translate into a better FOR, but not necessarily a better CIBIL score. The latter has more to do with proper repayment of loans with sound financial management, an obvious expectation from a CA like you.
Either way, here are some tips to make the best use of a personal loan for chartered accountants: –
- A vacation –
There’s a whole world beyond your home, your workspace and whatever is in between. Get out and have a look. Take a month-long trip to Europe or the Caribbean. Get a taste of a life outside your 24×7 schedule. Don’t think about the expenses. Let your personal CA loan cover it for you.
Personal loans are unsecured. So, you do not need to put your personal assets as collateral to go for your dream vacation. Most importantly, these loans are easy to avail with minimal documentation requirements, simple approval procedures and quick disbursals. This means you can plan your vacation alongside the on-going loan procedures and find on-time funds for hotel or plane ticket bookings.
- For your child –
You want your child to get the best educational exposure you can provide. But the top schools or colleges can be quite a financial setback without proper planning. A personal loan for chartered accountants can end up as education funds for your child.
One of the top benefits of these personal loans is that you can use the funds at your discretion; that is, you can utilize the credit however and wherever you want to use. Lending institutions provide loans up to Rs. 35 Lakh for CAs, enough for education abroad and perhaps a vacation for the two of you!
- Refinancing –
Refinancing can be tricky only for those who don’t know their way through it. Loans are financial investments for a better future. Refinancing is the best way to consolidate the overall debt and reorganize accordingly. If you have more than one credit, you can take a personal loan for CAs and use it as your refinancing option.
You can make the best of competitive CA loan interest rates and consolidate the previous credits by repaying them with this one. You must understand that these are professional loans, in this case, for chartered accountants. You can get a better overall EMI, i.e. pay a lower percentage of interest, by refinancing your existing debts under one professional loan.
- Home renovation –
You may think about general home loans but what you need instead is a loan tailored for you, as per your profession and the subsequent financial pattern. There are a couple of things CAs should consider before buying a new home. Furthermore, you will find it hard to come across a loan for home renovations in the first place.
So, stick to your personal loan for chartered accountants. These loans are fine-tuned with your financial requirements as per the loan value, EMIs, features, etc. Moreover, NBFCs such as Bajaj Finserv provide with pre-approved offers on personal loans for CAs. These are also valid on personal loans, business loans, home loans, loans against property and other financial products and services. The offers are as per your individual eligibility pointers which make the process of approval and disbursal faster.
How Would You Choose the Best Quality Packing Casefor Your Business?
If you have an e-commerce business, then you need to ship your products to various locations. Apart from e-commerce, there are multiple types of businesses available which are product-based, and they need to deliver their products to their customers. In this case, you need to choose the best packing case for your goods or products. Wooden cases are the best option for you because these crates or cases are eco-friendly and recyclable.
Tips to Choose the Wooden Cases:
There are multiple types of packing cases available in the market such as metal cases, cardboard cases, plastic cases, and wooden cases. Metal cases are expensive, and they increase the overall weight of your products. Plastic cases are not durable, and they have some toxic substances. You cannot ship your heavy goods with cardboard cases. Wooden packing cases are the most effective solution for your business. But how would you choose the best quality wooden packing cases? Here, you can find some tips to choose such cases:
Wooden cases are durable and long-lasting. But wooden packing cases can get affected by fungus and you need to choose heat-treated wooden crates to keep your products safe. Manufacturers will treat their wooden crates under a certain temperature to kill the pests and fungus. They do not use any chemicals to kill such pests from their wooden crates and they must go for the heat treatment procedure. Heat treatment can make such crates stronger and resilient, and these cases can keep your products safe from extreme temperatures. So, make sure, you must choose such crates which are heat treated.
Choose the Wood:
There are different types of woods available in the market and you need to check the wood properties of such crates before you choose. You can choose some wooden case made from plywood or lumber. There are three types of wooden case available, such as open case, sheathed wooden case, and closed wooden case. So, you can choose the best one according to your needs.
Wooden cases are versatile, and they are available in different sizes. You can also customize these cases according to your needs. You can also ship your fragile items with these cases. It is better to include a small opening in your crates to pass the air and it will keep your products safe and moisture-free. If you want to ship some food products, electronics, or glassware then you must choose such wooden cases with the air passage.
Wooden crates are non-corrosive, but you need to add some external layers or walls to keep your goods safe from external impacts. Your goods can get affected by adverse road conditions and sea conditions, and you need to add some safety features in your crates to keep your products safe. In this case, you can add some waterproof films and foils to keep your crates safe. It is better to discuss your requirements with the manufacturer and they can suggest you the best wooden crates according to your needs.
When you ship your products, you need to use proper labeling for your consignments. Without labeling, you can lose your products and consignments can be delivered to the wrong address. In this case, you need to use some printed labels on your wooden cases. Printed cases can fade away during their transition because people are using the same crates for multiple shipments. In this case, you can engrave your company’s name and other details on your wooden crates.
To choose the best quality wooden cases, you can search them online. Make sure, you must check their thickness, size, and durability before you choose.