ICAI offers collateral free Personal loan to its members in association with poonawallafinance
As we know ICAI has launched various products/ services for the benefit of members and now ICAI has even released the details of Personal unsecured loan being offered by ICAI in association with Poonawalla finance.
Details of the Loan being offered are as below:
Particulars | Individuals in whole time employment | Individuals in whole time practice |
Products Offered | Term Loan (unsecured) facility in the form of Personal loans – Be it higher education, home renovations, medical emergency, dream wedding or exotic family vacations – we will strive to make it happen for you, with a sense of understanding and the commitment to offer customised solutions. | Term Loan (unsecured) facility in the form of Loan to professionals – At Poonawalla Finance, we understand your need to reach the next level in your professional practice and we are by your side in enabling the growth you aspire and for business expansion including takeover of existing high cost loans with clean track. |
Product Features | a) Minimum loan amount INR 2 lakh and max INR 30 lakh.
b) Rate of Interest – 9.99 % p.a. upto 36 months and 10.99 % p.a. above 36 months (reducing balance method). c) Processing fee – NIL for loan upto 36 months and 1 % + applicable taxes for loan above 36 months. d) Collateral Free Loan. e) Zero prepayment charges. f) Minimum loan tenure of 12 months and maximum loan tenure of upto 60 months. g) Quick approval within 24 hours, easy and hassle free process with minimum documentation. h) Collateral free loan, ZERO prepayment charges, no hidden charges, no guarantee and no security. i) Takeover of high cost existing loans. j) Loan application process will be completely 100% online without any need to visit branch – any CA can apply from anywhere, anytime. |
a) Minimum loan amount INR 2 lakh.
b) Maximum loan amount upto INR 10 lakh for a member having less than 5 years of experience and INR 30 lakh for a member having equal to or more than 5 years of experience. c) Rate of Interest – 9.99 % p.a. upto 36 months and 10.99 % p.a. above 36 months (reducing balance method). d) Processing fee – NIL for loan upto 36 months and 1 % + applicable taxes for loan above 36 months. e) Minimum loan tenure of 12 months and maximum loan tenure of upto 60 months. f) Quick approval within 24 hours, easy and hassle free process with minimum documentation. g) Collateral free loan, ZERO prepayment charges, no hidden charges, no guarantee and no security. h) Takeover of high cost existing loans. i) Loan application process will be completely 100 % online without any need to visit branch – any CA can apply from anywhere, anytime. |
Eligibility Criteria | ||
a) Age | Minimum 22 years (subject to 1
year experience in employment) and maximum upto 60 years |
Minimum 22 years (subject to 1
year experience in practice) and maximum upto 60 years |
b) Income | Minimum net salary of INR
20,000/- |
Minimum annual gross receipt of INR 3 lakh subject to minimum 1- year vintage in COP/ 1-year experience in employment however please note this facility will not be for fresher CA. |
c) Stability | 1 year with 2 months’ stability
with current employer. |
2 years Minimum 1-year experience in employment for those members, who were in employment and later on intend to start their own practice. |
The web link to submit the loan application and the contact details in the event of escalation:
1) Web Link to submit loan application: · For professional loan to individuals in whole time practice – https://www.poonawallafinance.com/professional-loan-application/·
For personal loan to individuals in whole-time employment – https://www.poonawallafinance.com/personal-loan-application/.
2) Customer care number – 8822200200.
To read full notification from ICAI CLICK HERE.