Features and benefits of business loan for chartered accountants
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Convenient repayment
Select a tenure ranging up to 96 months (8 years) to keep your EMIs aligned to your budget.
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Zero collateral
Get approval without having to offer a personal or business asset as security.
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Money in 48 hours*
Receive the funds in your bank account within 48 hours* of your application approval.
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Basic documentation
Obtain a business loan with a Certificate of Practice and a few KYC.
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Doorstep services
Your documents will be collected at your doorstep by a Bajaj Finance executive for added convenience.
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Flexi facility
Borrow and prepay funds against your loan limit with zero extra charges. Choose to pay just the interest as EMI for the initial tenure.
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Digital loan account
Prepay funds, view your statements, keep tabs on your outstanding balance and more with our customer portal – My Account.
Grow your firm with a Bajaj Finance Business Loan for Chartered Accountants. Get up to Rs. 80 lakh (inclusive of Insurance premium, VAS charges, documentation charges, Flexi facility charges, and processing fees) in just 48 hours* of approval without providing collateral.
Use the loan to get a new office space, open a branch office, integrate technology into practice, manage late payments from clients, hire extra recruits during the filing season, and more. Repay it conveniently over a flexible tenure ranging between 12 months and 96 months.
For flexibility in borrowing, consider the Flexi loan facility. It offers you a pre-approved loan limit, against which you can borrow funds and prepay them as many times as you wish at nil charges. Further, your interest payment is limited to the amount you borrow only. Additionally, you can opt for interest-only EMIs for the initial tenure to reduce your monthly outgo by up to 45%*.
*Terms and conditions apply
A business loan for chartered accountants may help meet eligible practice-related expenses, depending on the loan terms and approved purpose.
Use of the loan | Potential business expense |
Office set-up | Furniture, workstations and other essential office facilities. |
Branch expansion | Eligible costs associated with setting up another office. |
Technology upgrades | Computers, equipment and software used for accounting, auditing and tax filing. |
Working capital | Eligible operating expenses, such as office rent and staff salaries, when client payments are delayed. |
Additional staff | Eligible staffing expenses during periods of higher client demand. |
Before applying, check the product terms and permitted end use of the funds.
Eligibility criteria for a business loan for chartered accountants
Get a business loan for chartered accountants from Bajaj Finance by meeting these simple eligibility terms.
- Nationality: Indian
- Age: 21 years to 80 years*
- CIBIL Score: 650 or higher
*age should be 80 years or less at the end of your tenure.
Documents required for a business loan for CA
Bajaj Finance approves loan applications after verifying a minimal set of documents*:
- KYC documents - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- PAN card
- Certificate of Practice
*Additional documents required, if any, will be communicated during the application process.
Applicable fees and charges
| Types of fees | Charges applicable |
| Rate of interest | 11% to 17.50% per annum For Emergency Credit Line Guarantee Scheme (ECLGS) 5.0: 8% p.a. to 13% p.a. |
| Processing fee | Up to 2.95% of the loan amount (inclusive of applicable taxes) |
| Flexi facility charge | Term Loan – Not applicable Flexi Loan – Up to Rs. 999/- to Rs. 16,999/- (Inclusive of applicable taxes) |
| Prepayment charges | Full Pre-Payment |
| Annual maintenance charges | Term Loan: Not applicable Flexi Dropline Loan: Up To 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit (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 Dropline Limit During Initial Loan Tenor. Up To 0.472% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Loan Tenor. |
| Bounce charges | Rs. 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. |
| 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. |
| Stamp duty (as per respective state) | Payable as per state laws and deducted upfront from the loan amount |
Note: For loans under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, only Stamp Duty charge is applicable.
How much loan a CA practice should apply for
Choose a loan amount based on your business expenses, expected cash flow and ability to repay the EMI. The maximum available amount is not necessarily the amount your practice needs.
Follow these steps to estimate your borrowing requirement:
- List your expenses: Estimate the costs of setting up an office, opening a branch, upgrading technology or meeting other eligible business expenses.
- Account for applicable charges: Check stamp duty, the processing fee and any Flexi facility charge. Stamp duty and Flexi facility charges, where applicable, are deducted upfront from the loan amount.
- Choose a repayment tenure: You can select a tenure from 12 to 96 months. A longer tenure generally lowers the EMI but increases the total interest payable, assuming the same loan amount and interest rate.
- Calculate your EMI: Use the Chartered Accountant Loan EMI Calculator to estimate your monthly repayment.
- Review your cash flow: Compare the EMI with your average monthly fee income and allow for periods when clients pay late.
- Select the required amount: Apply for an amount that covers your eligible expenses and fits your repayment capacity.
Your final loan amount and terms depend on the application, eligibility and applicable conditions.
EMI example for a CA business loan
You can estimate your monthly EMI using the loan amount, annual interest rate and repayment tenure. For a standard reducing-balance loan, use this formula:
[ EMI=\frac{P\times r\times(1+r)^n}{(1+r)^n-1} \]
Where:
- \(P\) is the principal loan amount.
- \(r\) is the monthly interest rate, calculated as the annual rate divided by 12 and 100.
- \(n\) is the number of monthly instalments.
To calculate the total interest, multiply the EMI by the number of instalments and subtract the principal.
The following examples use a loan amount of Rs. 10,00,000 and the published interest rate range of 11% to 17.50% per annum. These figures are illustrations, not loan offers.
Loan amount | Tenure | Interest rate (p.a.) | Monthly EMI | Total interest |
Rs. 10,00,000 | 60 months | 11% | Rs. 21,742 | Rs. 3,04,520 |
Rs. 10,00,000 | 60 months | 17.50% | Rs. 25,122 | Rs. 5,07,320 |
Rs. 10,00,000 | 96 months | 11% | Rs. 15,708 | Rs. 5,07,968 |
Rs. 10,00,000 | 96 months | 17.50% | Rs. 19,421 | Rs. 8,64,416 |
A longer tenure reduces the estimated monthly EMI but increases the total interest payable. A higher interest rate also increases the EMI and overall borrowing cost when the loan amount and tenure remain unchanged.
The processing fee is up to 2.95% of the loan amount, including applicable taxes. For a loan amount of Rs. 10,00,000, this could be up to Rs. 29,500. Other applicable charges may also affect the total borrowing cost.
Use the Chartered Accountant Loan EMI Calculator to estimate repayments for your own loan amount, interest rate and tenure.
What to check before taking a business loan
Review the product terms, sanction letter and loan agreement before accepting a business loan. Check the following details to understand the amount you receive and the cost of repayment.
- Amount received: Stamp duty and applicable Flexi facility charges are deducted upfront. The amount credited to your account may therefore be lower than the sanctioned amount.
- Processing fee: The fee is up to 2.95% of the loan amount, including applicable taxes.
- Prepayment charges: Full and part-prepayment charges depend on the loan variant. The published terms list charges of up to 4.72% for applicable prepayments. Part-prepayment charges do not apply to Flexi Dropline and Flexi Hybrid loans.
- Late payment and bounce charges: A delayed instalment attracts a penal charge of 36% per annum per instalment for the period of delay. The published bounce charge is Rs. 1,500 per bounce.
- Permitted use: Confirm that your intended business expense is allowed under the loan terms.
- Interest rate: The published rate range is 11% to 17.50% per annum. Check the rate offered to you in the sanction letter.
The applicable charges depend on the loan variant and the terms of the offer. Review the latest fees and charges before accepting the loan
How to apply for a business loan for chartered accountants
Apply for a business loan for chartered accountants online in a few quick steps.
- 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.
FAQ
Yes, a Chartered Accountant running a one-person practice can enquire about a business loan. The eligibility criteria listed on this page include Indian nationality, an age of 21 to 80 years, subject to the age limit at the end of the tenure, and a CIBIL score of 650 or higher. The page does not specify a minimum number of partners or employees. Keep your Certificate of Practice and KYC documents ready. Approval depends on the applicable eligibility criteria and assessment.
The documents listed on this page include KYC documents, a PAN card and a Certificate of Practice. Additional documents may be requested during the application process. Depending on the applicant's profile and the applicable requirements, these may include income tax returns, bank statements, a balance sheet and a profit and loss account. Confirm the required documents before applying.
Before signing a business loan agreement, review the loan purpose, interest rate, processing fee, other applicable charges, repayment schedule and prepayment conditions. Check whether any fees are deducted from the sanctioned amount and understand the charges for delayed payments or failed instalments. Read the sanction letter and loan agreement carefully to understand the applicable terms.
The choice depends on your cash flow, hiring plans and repayment capacity. Reinvesting profits avoids loan interest and borrowing charges but may delay hiring until sufficient funds are available. A business loan can provide funds earlier, but you must repay the amount with interest and applicable fees. Compare the expected business benefit with the total borrowing cost and ensure that the EMI fits your cash flow.
A CA firm may claim depreciation on eligible business assets purchased using borrowed funds, subject to the applicable tax rules. The asset must meet the relevant ownership, business-use and other conditions. The applicable depreciation rate depends on the asset category and tax provisions. The tax treatment of loan interest is separate and depends on the circumstances. Consult a tax professional to confirm the treatment for your case.
A newly qualified Chartered Accountant can enquire about a business loan, but approval depends on the product's eligibility criteria and the applicant's financial profile. This page lists nationality, age and CIBIL score requirements but does not specify a minimum period of practice. Check the current requirements and documents with Bajaj Finance before applying.
Interest on a business loan used for professional or business purposes may qualify as a deduction, subject to the applicable income tax provisions and conditions. The treatment depends on the purpose of borrowing, how the funds are used and the relevant tax rules. Keep the loan documents, interest statements and records showing how the funds were used. Consult a tax professional before claiming a deduction.
Your EMI remains due on the scheduled date, even if a client pays late. The charges listed on this page include a penal charge of 36% p.a. per delayed instalment and a bounce charge of Rs. 1,500, subject to the applicable terms. Plan repayments around your expected fee receipts and maintain a cash buffer to manage delays. Review the applicable Flexi facility charges and terms before choosing a Flexi loan.
