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Business Loan for Chartered Accountants

Highlights

  • Option to take a Business Loan for the Chartered Accounts.
  • Compare the Rate of Interest of all Institutions before Applying for the CA Business Loan.
  • Determine the Tenure offered by different financial institutions on the business loan to CAs.

There are a lot of CA Professionals who are hunting for funds in order to open their personal firm and start their earnings. But due to lack of experience and knowledge, they are unable to find the best financial institution that grants them the fund. Therefore, you can find a number of financial institutions that have a business loan for a Chartered Accountants. Compare the rate of interest and the tenure offered by the different financial institutions and apply accordingly.

Business Loan

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    Business Loan Interest Rates for Chartered Accountants

    ParticularsLoan AmountInterest RateTenureProcessing Fee
    Bajaj Finserv Business Loan₹1 Lac - ₹35 Lacs8.5% - 17% Per Annum12 Months to 60 MonthsUp to 2.5% of the loan amount
    HDFC Business LoanUp to ₹75 Lacs12.50% - 15.65% Per Annum12 Months to 60 MonthsUp to 2.50% of the loan amount.

    Minimum of ₹2359

     Maximum of ₹88500
    Axis Bank Business LoanLoan up to ₹50 Lacs14.25% Per AnnumUp to 48 MonthsUp to 2% + Taxes
    IDFC Bank Business LoanLoan up to ₹25 Lacs19%-24% Per AnnumUp to 48 Months3.5% of the loan amount
    Lendingkart Business LoanUp to ₹1 Crore1-2% Per Month36 Months to 60 Months1-2% of the loan amount

    Financial Institutions that grant Business Loan to Chartered Accountants

    Bajaj Finserv Loan to Chartered Accountant Professionals

    Bajaj Finserv gives a customized loan to the Chartered Accountants. The loan will be available for up to ₹35 lakhs in just 24 hours without any collateral. This loan can be used for various purposes as your choice for new technology, buying new offices, paying off old debts and many more.

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    Features

    • The repayment of the loan is flexible that is 12-60 months.
    • For availing the loan you didn’t require any collateral and guarantor.
    • Get the amount disbursed into your account in just 24 hours after completion of all the documents.
    • It requires the minimum documents for the loan process.
    • It provides door-to-door facility to the entire loan process.
    • You can view and manage your loan account online. 
    • Avail Flexi loan facility as well.

    Eligibility

    • The Chartered accountant should have 4 years certificate of practice (COP) on the date of applying for the loan.
    • It is mandatory to have your own home or office or parent’s home at the place where Bajaj Finserv provides the facility.

    Charges

    ParticularsCharges
    Interest Rate8.5% - 17% per annum
    Document Processing Fee₹1449 + Taxes
    `Cheque Bounce feeUp to ₹3000 + Taxes

    HDFC Chartered Accountant Business Loan

    HDFC Bank is the top leading bank in the private sector and therefore you can apply for a business loan without collateral. You can choose a loan amount of up to ₹ 75 lacs according to your requirements.

    Features

    • You have an option to pay the EMI as per your choice.
    • The process is very simple and fast disbursal. 
    • Get a balance transfer facility at a lower interest rate of 13.29%.
    • It offers you a processing fee of less than 0.99% on the balance transfer facility.
    • The repayment period is 12-60 months as per your choice.

    Eligibility

    • The Chartered accountant should have 4 years post qualification.
    • Minimum age of 25 Years is needed.
    • The Maximum age must not exceed 65 years at the time of maturity.
    • The minimum annual income of the CA must be ₹1 Lac per annum.
    • A Business should be in profit-making for the last 2 years.
    • Latest 6 months bank statement is also needed.

    Charges

    Axis Bank Chartered Accountant Business Loan

    Axis Bank is one of the trusted banks to get a business loan. It offers loans to the chartered accountant at a low-interest rate starting from 14.25% per annum. This loan is a collateral-free loan of up to ₹50 Lacs by providing 6 months bank statement.

    Features

    • Avail loan up to ₹50 Lacs.
    • This is a collateral-free loan.
    • Fewer documents are required.
    • There will be Nil part-payment / foreclosure charges.
    • It offers you a flexible repayment tenure option that is up to 48 months.

    Eligibility

    • CA must be engaged in the same profession for 2 years.
    • Gross Receipt must be ₹5 Lacs and above.
    • 6 months bank statement is needed.
    • Borrower’s Minimum age must be 21 years and the maximum age is 65 years.

    Charges

    ParticularsCharges
    Cheque bounce Charges₹500 + Taxes
    No objection certificate/No dues certificate₹150 + Taxes
    Interest Rate14.25%

    IDFC Bank Chartered Accountant Business Loan

    IDFC Bank is a growing bank that offers business loans without collateral to chartered accountants. You can easily get a loan ranging between ₹1 Lac-₹25 Lacs.

    Features

    • You can avail a loan up to ₹25 lacs as per your wish.
    • Repay your loan with a maximum tenure of 48 months.
    • Avail loan at an attractive interest rate.
    • Minimum paperwork required.
    • Collateral free loans.
    • Get a loan without security.
    • Doorstep pick-up of documents facility.

    Eligibility

    • The Minimum age required 25 years.
    • The Maximum age is 65 years at the time of loan maturity. 
    • Latest 3 months bank statement.
    • One of your things should be your own either home or office premises.

    Charges

    ParticularsCharges
    Interest Rate19% to 24% Per Annum
    Charges for EMI Bounces₹400
    Charges for document retrieval₹500 per retrieval
    EMI Pick up / Collection Fee₹350
    Foreclosure Charges5% of the principal outstanding at the time of loan closure

    Lendingkart Chartered Accountant Business Loan

    Lendingkart is a popular non-financial institution that has a business loan for Chartered accountant to expand their business. It offers a very low-interest rate as compared to other financial institutions.

    Features

    • This loan is hassle-free.
    • The loan processing time is 72 hours.
    • It has a simple loan application process.
    • The Rate of Interest is 1% to 2% per month. 
    • The institution does not require any security or collateral.
    • It offers flexible tenure to repay the loan amount.
    • The Rate of interest is very low as compared to other competitors.

    Eligibility

    • Applicant’s minimum age is 21 years and maximum of 65 years.
    • The Applicant must be a professional in Chartered Accountant.
    • The CA must hold a license issued by the ICFAI.
    • Bank statement for the last six months.
    • The borrower must practice successfully for at least two years in the same profession.

    Documents Required

    • Pan Card (For Company/ Firm/ Individual)
    • Passport Size Photo of applicant
    • Identity  Proof – (Any of one) Aadhaar Card/ Passport/ Voters ID card/ Driving License/ Pan Card
    • Address Proof- (Any of one) Aadhaar Card/ Passport/ Voters ID Card/ Driving License/ Electricity Bill/ Rent agreement
    • Latest ITR along with computation of income
    • Balance Sheet and Profit & Loss Account for the last 2 years
    • Professional Qualification Certificate or passing certificate or certificate of practice (COP)
    • Ownership Proof 
    • Proof of Business -ITR / Trade license

    Note:- Financial Documents should be certified or audited by a CA

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