CA Loan for setting up a new practice

Being your own boss is a dream, but if you have enough money, you can make it happen. All you need is the funds to set up your office and pay your employees' salaries. Use a chartered accountant (CA) loan of up to Rs. 80 lakh to invest in your dream of running a successful practice.

Fulfil Your Dream

FULFIL YOUR DREAM

Now that you have decided to pursue your dream, start strong. Create a structured plan for the success of your practice with the help of a business advisor and avoid compromising on its set-up with sufficient funds from a CA loan.

Rent a New Space

RENT A NEW SPACE

Setting up your practice properly is a simple but expensive task. Rent for an office in a busy business area can go as high as lakhs of rupees. Add to that the cost of buying furniture, lighting, computers, and more for your new firm.

Operations Cost

OPERATIONS COST

Keep a healthy amount of funds on hand to pay for the day-to-day expenses of running a successful firm. These can include rent, electricity, employee salaries, phone and internet bills, every month. Add to these, the cost of entertaining important clients.

Payroll

PAYROLL

Hire the most skilled accountants and pay them competitive salaries. This can easily be the biggest monthly expense for your firm, especially if you need experienced staff. You may want to hire seasonal workers to lighten the workload during tax season too.

Buy Machinery

BUY MACHINERY

Get your staff members quick computers, top-notch printers, and accounting software licences to assist them finish their work more quickly. Consider purchasing the most recent data security systems while you are at it, to protect your clients’ financial information from leaks.

3 unique variants of our CA loan

  • Flexi Term Loan

    Let us say Ravi takes a Rs. 15 lakh line with a tenure of 36 months and withdraws only Rs. 10 lakh. By the end of 12 months, he would have paid back Rs. 5 lakh plus applicable interest. At this point, he wants to expand his practice and wants Rs. 4 lakh rather soon. All Ravi needs to do is to sign in to My Account and withdraw Rs. 4 lakh.

    His practice does well over the next 18 months, and he has a windfall gain. Ravi wants to part-prepay Rs. 7 lakh out of the total Rs. 15 lakh. Once again, he simply needs to sign in to My Account and prepay Rs. 7 lakh.

    Ravi's interest has been automatically adjusted throughout, and he is paying interest only on the amount that is now due. Both the principal and the adjusted interest are included in his EMI.

    A modern-day business demands dynamicism and may need quick investments. A Flexi Term Loan is perfect for such uses.

  • Flexi Hybrid Loan

    This alternative has the same features as the Flexi Term Loan. The primary difference is that your EMI will only consist of the interest component throughout the loan's initial duration. The initial duration may vary depending on the loan's tenure. The remaining tenure will cover the interest and principal components in your EMIs.

    Click here for a detailed description of how our Flexi Hybrid Loan works.

  • Term Loan

    This is your regular loan. You take out an unsecured chartered accountant loan for a specific sum of money, which is then divided into equated monthly payments. These payments include both, the principal and the associated interest.

    There is a small fee for the repayment of your term loan before the end of tenure.

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Features and benefits of our loan for chartered accountants

What is the eligibility criteria for a CA Loan? 00:22

What is the eligibility criteria for a CA Loan?

Learn about the essential eligibility criteria to secure a chartered accountant loan.

  • 3 unique variants

    3 unique variants

    We have 3 new unique variants – Term Loan, Flexi Term Loan, Flexi Hybrid Loan. Choose the one that works for you best.

  • No part-prepayment fee on Flexi variants

    No part-prepayment fee on Flexi variants

    With Flexi variants, you can borrow as many times as you want to and part-prepay whenever you can. No extra charges.

    Read about our Flexi Hybrid Loan

  • Loan amount

    Loan of up to Rs. 80 lakh

    Get loans from Rs. 2 lakh to Rs. 80 lakh through an end-to-end online application process to manage your small/ large expenses.

  • Convenient tenures

    Convenient tenures of up to 8 years

    Get the added flexibility to pay back your loan with repayment options ranging from 12 months to 96 months.

  • Money in your bank account

    Money in your bank account in 48 hours*

    In most cases, you will get your CA loan credited to your bank account within 48 hours of approval.

  • No hidden charges

    No hidden charges

    All fees and charges are mentioned upfront on this page and in the loan document. We advise you to read these in detail.

    Know about our fees and charges

  • No collateral required

    No collateral required

    You do not need to provide any collateral such as gold ornaments or property, or guarantors when applying for the CA loan.

  • End-to-end online application process

    End-to-end online application process

    You can apply for our CA loan from the comfort of your home or from wherever you are.

  • *Terms and conditions apply

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Eligibility criteria and documents required

There are just a few simple criteria to be eligible for a CA loan. You will need some documents as well to finish your application.

Eligibility criteria

  • Nationality: Indian
  • Age: 22 years to 80 years*
  • CIBIL Score: 700 or higher

*Higher age limit is applicable at the time of loan maturity.

Documents

You only need 3 basic documents to get our CA loan:

  • KYC documents - Aadhar / Passport / Voter's ID / Driving License / Letter form NPR / NREGA job card
  • PAN card
  • Certificate Of Practice (COP)

You may be asked for few additional documents during the course of the application process.

How to apply for a chartered accountant loan

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Step-by-step guide to applying for a CA loan

  1. Click on the 'APPLY' button on this page.
  2. Enter your 10-digit mobile number and OTP.
  3. Fill in the application form with your basic personal and professional details.
  4. Once you fill out the form, click on ‘PROCEED’.
  5. Update the KYC details.
  6. Schedule an appointment for document verification.

Note: Keep your Certificate of Practice handy to finish the KYC process.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account upon verification of your documents.

Applicable fees and charges

Types of fees Charges applicable
Rate of interest 10% - 20% per annum
Processing fee Up to 2.95% of the loan amount (inclusive of applicable taxes)
Flexi Facility Charge

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to Rs. 999/- (inclusive of applicable taxes)

Flexi Hybrid Loan (as applicable below):
• Up to Rs. 1,999/- (inclusive of applicable taxes) for loan amount less than Rs. 2,00,000/-
• Up to Rs. 3,999/- (inclusive of applicable taxes) for loan amount from Rs. 2,00,000/- to Rs. 3,99,999/-
• Up to Rs. 5,999/- (inclusive of applicable taxes) for the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/-
• Up to Rs. 6,999/- (inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/-
• Up to Rs. 7,999/- (inclusive of applicable taxes) for the loan amount of Rs. 10,00,000/- and above

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

*Loan amount includes approved loan amount, insurance premium and VAS charges.

Prepayment charges

Full prepayment (Foreclosure)

Foreclosure can be processed post clearance of first EMIs
• Term Loan: Up to 4.72% (inclusive of applicable taxes) of the outstanding loan amount as on the date of full such prepayment
• Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full such prepayment
• Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full such prepayment

Part prepayment
• Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment
• Not applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid Loan

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
Bounce charges Rs. 1,500 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
Penal charge
Delay in payment of instalment(s) shall attract Penal Charge of Rs. 25 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
Stamp duty (as per respective state)
Payable as per state laws and deducted upfront from the loan amount
Broken period interest/ pre-EMI interest

Broken period interest/pre-EMI interest shall mean the amount of interest on the loan for the number of day(s), which is(are) charged in two scenarios, influenced by the CA Loan Interest Rate:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by the following methods:
• For Term Loan: Deducted from the loan disbursement
• For Flexi Term Loan: Added to the first instalment
• For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed, in accordance with the CA Loan Interest Rate.

Legal & Incidental charges Recovery of charges

Frequently asked questions

What is the maximum amount of loan I can get?

If you are a practicing CA, you can avail of a loan of up to Rs. 80 lakh Bajaj Finserv offers hassle-free loans for chartered accountants that help in financing their professional expenses. It comes with an attractive rate of interest. It is an unsecured loan, and therefore, you are not required to provide any collateral or guarantor.

What is the Flexi Term Loan facility?

Bajaj Finserv offers loans for CAs with the Flexi variants that allow you to withdraw money as per your requirement from the sanctioned loan amount. Under this facility, you have to pay interest only on the withdrawn amount and not on the entire loan limit. With the Flexi Hybrid Loan, you can also part-prepay when you have extra funds without paying any additional cost.

Where can I find the loan account statement for my CA loan?

Bajaj Finserv offers easy online access to loan statements through their customer portal, My Account. With the help of this portal, you can view and manage your loan account from any corner of the world. You can also download the e-statements and certificates free of cost.

How do I apply for a CA loan?

You can click on 'Apply’ to open the online application form. Once you share your basic and financial details, our representative will contact you with the loan offer. You have to submit the required documents to our representative at your doorstep. Once your loan gets approved, you will get money in your account in just 48 hours*.

*Terms and conditions apply

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