CA Loan ✓ High Loan Amount ✓ Quick Approval ✓ Minimal Documentation Check Offer

A CA loan is a specialised financial product designed to meet the unique needs of practising accounting professionals. You can use the loan for a variety of purposes, including hiring skilled staff, purchasing modern software, or setting up a new office space. With loan amounts up to ₹80 Lakhs, you can cover significant business costs without dipping into your savings. The flexible loan tenures that range up to 96 months make it easier for you to manage your loan repayment.

CA Loan Details

Some important information about the CA loan available on Bajaj Markets is as follows:

Fees & Charges

Particulars

Maximum Loan Amount

₹80 Lakhs

Interest Rate

11%  - 19%

Processing Fee

Up to 2.95% (Inclusive of Taxes)

Pre-payment charges

Full Pre-payment

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (Inclusive of applicable taxes) of the dropline limit as per the repayment schedule as on the date of full prepayment. 

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) of the dropline limit as per the repayment schedule as on the date of full prepayment.

 

Part Pre-payment

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) of principal loan amount prepaid on the date of such part pre-payment

  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid Term Loan

Penal Charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Legal & Incidental Charges

Recovery of charges

Type of Loan

Unsecured Professional loans is offered in below mentioned 3 variants:

 
a) Term Loan: The loan type offers two repayment options: fixed monthly payments for the full term or up to 24 months of interest-only payments, followed by interest and principal payments.


b) Flexi Term Loan (Flexi Dropline): Variant having monthly repayments of interest and principal depending on the usage of the loan. The customer can withdraw and deposit the funds as per his utilization in loan account. The facility to withdraw funds reduces as per the amortization chart for fixed loan tenure.


c) Flexi Hybrid Term Loan: Flexi Hybrid Loan refers to the variant of Loan under which, the monthly instalments will be payable as follows:

  • Initial Loan tenure (Interest servicing period): Monthly Instalments of the initial term of the Flexi Hybrid Term Loan, commencing from the date of disbursement of the Loan, shall comprise only of the interest component.

  • Subsequent Loan Tenure (Full Installment servicing period): Monthly Instalment shall comprise of principal amount and the interest component payable on the Loan (Subsequent loan tenure shall commence from the expiry of the Initial loan tenure).

Cheque Bounce Charges

₹1500/- per bounce.

 

“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason

AMC (Annual Maintenance Charges)

Term Loan: Not Applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295 % (Inclusive of applicable taxes) of the Total Withdrawable Amount (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan:

  • Up to 0.59% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure.

  • Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure.

Flexi Facility Charge

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline)- Up to ₹999/-

Flexi Hybrid Loan (as applicable below):

  • Up to ₹1,999/- (inclusive of applicable taxes) for loan amount less than ₹2,00,000/-

  • Up to ₹3,999/- (inclusive of applicable taxes) for loan amount from ₹2,00,000/- to ₹3,99,999/-

  • Up to ₹5,999/- (inclusive of applicable taxes) for the loan amount from ₹4,00,000/- to ₹5,99,999/-

  • Up to ₹6,999/- (inclusive of applicable taxes) for the loan amount from ₹6,00,000/- to ₹9,99,999/ -

  • Up to ₹7,999/- (inclusive of applicable taxes) for the loan amount of ₹10,00,000/- and above

 

*The Flexi charges above will be deducted upfront from the loan amount.

*Disclaimer: The mentioned details are subject to change at the lender’s discretion 

Chartered Accountant Loan Features and Benefits

High Loan Amount

Get funding of up to ₹80 Lakhs and use it to boost your practice as per your requirements

Repayment Flexibility

Choose a tenure of up to 96 months, i.e., 8 years, to repay comfortably and conveniently

Low Interest Rates

Keep your borrowing costs low with pocket-friendly interest rates starting at just 11% p.a.

Unsecured Financing

Get a CA loan without risking your assets, as you do not have to pledge any collateral

Speedy and Simple Online Application

Apply for a Chartered Accountant Loan online in just a few steps by submitting basic information.

*Disclaimer: Terms and conditions apply to the above-mentioned benefits. 

Eligibility Criteria and Documents Required for a Professional Loan for CAs

Here are the eligibility criteria you need to meet in order to have a better chance of securing a CA loan:

  • Nationality: You must be an Indian citizen

  • Age: You must fall under the age bracket of 22 to 70 years

  • Work Experience: You must be a self-employed CA professional with a minimum work experience of 4 years

  • Credit Score: You must have a CIBIL score of 720 or above

Once you meet these criteria, have the following documents ready to apply seamlessly:

  • ID Proof

    • PAN card

    • Aadhaar card

    • Voter ID

    • Driving licence

  • Residential Proof

    • Aadhaar card

    • Utility bills

    • Ration card

  • Income Proof

    • Bank statements for the last 6 months

    • ITR filings

  • Financial Statements

    • Latest balance sheet

    • Profit and loss statement of the last 2 years

  • Business Existence Proof

    • Trade licence

    • Tax returns

  • Qualification degree certificates

 

You may need to submit additional documents, if required, based on your application.

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Uses of a CA Loan

Here are some unique purposes for which you can consider getting a CA loan:

  • Setting Up a Full-service Practice: Use the loan to establish a complete office with infrastructure, software, and resources. This enables you to offer quality end-to-end accounting, auditing, and consulting services to your clients.

  • Upgrading to Cloud-based Accounting Software: Invest in cloud-based software solutions to streamline the accounting processes. This makes it easier for you to manage clients' finances remotely and securely.

  • Expanding Client Portfolio: Allocate funds for marketing efforts like digital campaigns or seminars to attract new clients and grow your client base

  • Staff Training and Development: Use the loan to provide your team with advanced training in tax laws, compliance, or emerging accounting standards. This enables you to keep your firm up-to-date with industry trends.

  • Compliance Management Tools: Invest in tools and software that automate compliance management. This ensures that your firm adheres to the regulatory changes and deadlines.

  • Business Automation: Fund the purchase of technology that automates repetitive tasks like invoicing, payroll, and bookkeeping. This allows you to focus on higher-value services.

  • Relocation or Branch Expansion: Expand your practice by opening new branches in different locations or upgrading to a larger office space to accommodate more staff

  • Developing a Niche Practice: Invest in specialised certifications or tools to build expertise in a niche area like GST compliance or international taxation

How to Apply for a Chartered Accountant Loan on Bajaj Markets

Follow the simple steps outlined below to apply online for a professional loan for CAs on Bajaj Markets:

  • Click on the ‘CHECK OFFER’ button on this page

  • Enter your essential personal and professional details

  • Fill in your preferred loan terms (amount and tenure)

  • Submit the form for verification

Once you choose the offer, your application will be processed. After the verification of your application, the loan amount will be disbursed to your account within a few hours.

Things to Consider Before and After Taking a CA Loan

Here are some unique pointers to keep in mind before and after taking a CA loan:

Before Taking a CA loan:

  • Assess Long-term Practice Goals: Before applying for a loan, consider how the funds will support your long-term business goals. Accordingly, budget and create a financial plan. Assess and evaluate the different ways in which you can best utilise the loan amount.

  • Evaluate Cash Flow Projections: Ensure that your projected income from clients can comfortably cover the loan repayments. Especially consider this if you plan to invest in non-revenue generating assets like office space.

  • Plan for Upgrading Technology: If you're using the loan for tech upgrades, consider future-proof solutions that won’t require frequent reinvestments. Try using the funds to incorporate cloud-based accounting software or AI tools for automated tasks.

  • Review Flexible Tenure Options: Opt for a tenure that matches your revenue cycle. For instance, shorter tenures may work if you expect quick returns from new clients. On the other hand, longer tenures lead to smaller, manageable EMIs but can accrue higher interest costs, increasing the total cost of the loan. Choose a repayment period as per your preference and financial situation.

  • Check Prepayment Terms: Ensure the loan offers flexibility for prepayment without hefty penalties. This will help you in case you want to close the loan earlier when business cash flow improves to become debt-free sooner.

After Taking a CA loan:

  • Track Loan Utilisation: Regularly monitor how the funds are being used. Ensure they are allocated to productive business areas like client acquisition or technology upgrades.

  • Focus on ROI: After utilising the loan, regularly assess how the investment is helping your practice grow. For example, track client growth or efficiency improvements from new technology.

  • Maintain Discipline in Repayments: Set up automatic payments for EMIs to avoid any missed payments, which could affect your credit score and future borrowing ability

  • Reinvest Surplus Profits: If the loan leads to an increase in profits, consider reinvesting the surplus into further improving your practice. This can help your firm grow at an exponential rate. However, if losing your debt is a larger focus, use the funds to prepay and foreclose your CA loan.

  • Review Financial Health Periodically: Conduct periodic reviews of your business’ financial health to ensure the loan is not putting any strain on your cash flow. Adjust your business operations as needed to maintain a healthy balance between revenue and debt.

Disclaimer

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

Frequently Asked Questions

Do you have to pledge any collateral to get a CA loan?

No, you are usually not required to submit a collateral to the lender when applying for a professional loan for chartered accountants.

What is the range of tenure available for a Chartered Accountant Loan?

By applying on Bajaj Markets, you can get a maximum loan tenure of up to 96 months. However, like most loans, the tenure for a CA loan also varies from one lender to another.

What is the minimum work experience required to apply for a CA loan?

Generally, you need to have a work experience of at least 4 years as a CA to be eligible for this loan.

Will an existing loan affect the CA loan approval?

An existing loan can affect your creditworthiness and your eligibility for a CA loan. If you continue to repay your existing loan responsibly and show a low risk of default, the lender may approve your application.

What is the maximum amount you can get with a CA loan?

On Bajaj Markets, you can get a CA loan of up to ₹50 Lakhs, subject to your credit profile and approval from the lender.

Can I repay the CA loan before the end of the tenure?

Yes, you can prepay or foreclose your CA loan. However, remember that lenders generally levy some charges for using this facility.

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