Loans for Chartered Accountants

Most lenders offer unsecured loans to self-employed professionals to meet their business requirements. Business Loan for CA is one such collateral-free loan offered to fulfill the business related financial obligations of CA professionals. Consumers can avail the loan proceeds for office expansion/construction/renovation, working capital requirements , salary payments, etc.

Lenders usually offer a loan amount of up to Rs 1 crore for tenure of up to 8 years depending on the credit profile of the applicant. Some lenders also offer dropline overdraft facility to their CA borrowers in which the limit is set on a separate current account and interest is charged only on the used amount. Lenders also offer balance transfer facility to CAs wherein they can transfer their existing loans to other lenders offering low interest rates and better offers.

Some lenders like IDFC First Bank offer instant loans based on the professional qualifications of the applicants. In case the lender does not offer Loans for CA, CA professionals may apply for unsecured loans for self-employed professionals to meet their business related financial requirements.

HDFC Bank

Purpose: HDFC Bank offers unsecured Loans to CAs to meet their business requirements, such as construction/renovation/expansion of office, working capital requirements, paying salaries to the employees, etc. The lender also offers balance transfer and overdraft facility to its applicants.

Loan Amount: Up to Rs 40 lakh (Up to Rs 50 lakh for selective locations)

Tenure: 1-4 years

ICICI Bank

Purpose: ICICI Bank offers Loans to CAs branded as “Business Installment Loan” to meet the business related financial requirements of self-employed professionals with quick approval and fast loan processing .

Loan amount: Up to Rs 50 lakh

Tenure: Up to 5 years

Axis Bank

Purpose: Axis Bank offers Business Loan for Self-employed Professionals to CAs to cater to their business requirements.

Loan amount: Up to Rs 35 lakh

Tenure: Up to 3 years

State Bank of India

Purpose: SBI offers SME loans to CAs as term loan or overdraft to CA firms (proprietorship or partnership) registered with ICAI and currently under practice.

Consumers can avail term loans for purchasing office equipments and for office renovation/construction/purchase whereas overdraft can be availed for salary payments of employees and to meet other overhead expenses related to office.

Loan amount:

For Term Loan-

Minimum loan amount- Rs 2 lakh

Maximum loan amount-

For Overdraft- Rs 2 lakh to Rs 25 lakh

Loan Tenure-

Margin –

Bajaj Finserv

Purpose: Bajaj Finserv offers Loans to CAs as term loans, flexi term loans and flexi hybrid term loans. Applicants can avail the loan proceeds for office renovation, business expansion, travel expenses, paying employee salaries, international client meetups, etc.

Loan Amount- Rs 2 lakh- Rs 75 lakh

Tenure- Up to 8 years

IDFC First Bank

Purpose: IDFC First offers unsecured Professional loans for Chartered Accountants to meet their working capital, business operations and business expansion financial needs. (No part prepayment is allowed)

Loan amount: Up to Rs 1 crore

The lender also offer instant loans of up to Rs 30 lakh depending on the professional qualifications of the applicant.

Tenure: Up to 7 years

L&T Finance

Purpose- Consumers can avail Chartered Accountant Loans from L&T Finance to fund their business requirements with loan sanction within minutes of loan application. The lender also offers online overdraft facility to its applicants.

Loan amount- Up to 75 lakh

Tenure- Up to 5 years

Age- 22 years at the time of loan application and 65 years at the time of loan maturity.

Eligible Entities-

Business Vintage- Minimum 3 years

Business Turnover- Minimum Rs 10 lakh in the recent year

Credit Score- Above 650

Also Read: Business Loan Eligibility Criteria

Check Document Requirements for a Business Loan