Compare best Chartered Accountants Loan Rates in TamilNadu instanty.

Self-employed professional loan is also given to practicing Chartered Accountants.

The loan is given to expand current business or financial aid to help grow their practice.

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How to Get a Chartered Accountants Loan in TAMILNADU?

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Know your loan eligibility

Wondering how much you can borrow? We can help you with that. Your loan amount is determined by your Educational Qualifications or Working Experience or Fixed Obligations to Income Ratio (FOIR) or Debt-Service Coverage Ratio (DSCR) implemented by banks and Financial Institutions. Reach out to us, so you can find out your loan eligibility quickly.

Get your In-Principle Approval (IPA)

Gone are the days when you’d have to visit banks for your In-Principle Approval. We’ve streamlined the process to make it easier and faster for you to get one. Simply gather the required documents, submit everything to us and wait for approval.

Apply for Chartered Accountants loan

Once you get your IPA, you’re all set for the next step – getting the best Chartered Accountants loan in TAMILNADU. With the help of our knowledgeable Chartered Accountants Loan Specialists, you can be confident that you’ll be getting the highest loan amount at the lowest interest rates.

Chartered Accountants Loan - Overview

As a chartered accountant you are great at offering advice, doing audits and creating solutions based on the financial records of your clients. However, if you want to scale your own operations, you may need extra working capital to extend your office premises, expand your team, and much more.

Banks/NBFCs understand your needs for quick financing and so we are here to compare and offer customized business loans for chartered accountants. Our digital lending processes along with fast service help you expand or consolidate your practice and business at the right time.

We all know personal loans serve a wide range of benefits such as consolidating debt or meeting miscellaneous expenses. However, when looking at expanding one’s scale of operations, a personal loan may not be the optimal choice. For working professionals such as Chartered Accountants, loans to scale their operations come in the form of professional loans, or in this case, known as Business loans for professionals. Some of the more popular loans for Chartered accountants and their features are mentioned below.

Key Benefits and Features

Unsecured Business loans up to ₹50 Lakhs*

Get loans up to ₹50 Lakhs* through a smooth process.

Quick, hassle-free loan application

Our loan application process is very simple and can be initiated online.

Flexible repayment option

Choose a suitable tenure varying from 12 to 60 months.

No collateral*

Business loans for chartered accountants are available without collateral or guarantors*

Minimum documentation

No lengthy paperwork required! We can also pick up your documents from your doorstep.

*Terms and conditions apply

Loan Amount

Collateral Free Loan

Quick Approvals in 24 hours*

Flexible Repayment

Balance Transfer Facility

Dropline Overdraft Facility

Door Step service

Loan Amount:

Banks/NBFCs offers Chartered Accountants loan ranging from Rs.3 Lakhs to Rs.50 Lakhs for small, medium and large businesses.

Collateral-Free Loan:

Banks/NBFCs unsecured Chartered Accountants loan which means you can fund your business without any collateral/guarantor.

Quick Approvals in 24 hours*:

Get quick approval on Chartered Accountants loan from many Banks/NBFCs with hassle-free processing to meet immediate financial needs of your growing business.

Flexible Repayment:

Many Banks/NBFCs provides Chartered Accountants loans with flexible tenures of upto 60 months to make repayment easy.

Balance Transfer Facility:

Transfer your existing Chartered Accountants loan to other Banks/NBFCs for lower EMIs, lower Interest and processing fee waiver.

Dropline Overdraft Facility:

Many Banks/NBFCs provides Overdraft facility without any security. Limit is set in separate Current account which drops monthly till end of the tenure, pay the interest only on the amount utilized. Tenure ranging 12-72 months.

Door Step services:

Along with your business, BankVallet also takes care of your convenience. Enjoy our doorstep services by availing our Chartered Accountants loan.

Types of Chartered Accountants Loans

A few types of Chartered Accountants loans are as follows:
Overdraft facility

In an overdraft facility, the chartered accountant can withdraw a larger sum than the amount present in the account as a loan to meet his or her business needs. The maximum amount that can be withdrawn and the interest rate under this facility are based on a mutual agreement between the lender and borrower.

Term loans

In case of a term loan, a chartered accountant can avail a secured or unsecured loan to receive the funds according to the situation and requirement of the business. These loans are helpful in acquiring long-term assets. There are three types of term loans based on tenure namely short-term loan, long-term loan, and intermediate loan that can be repaid on a monthly or quarterly basis. While the rate of interest for such loans can be fixed or floating, it varies according to the loan repayment tenure.

Dropline Overdraft (flexi loan) facility

The cash credit facility is an overdraft loan that can be manage your cash flows smartly with a Flexi Loan facility as you get to withdraw the complete amount or in parts as per your firm’s requirements. You can pre-pay the loan when you get payments from clients or whenever you have surplus funds at no extra costs.

Chartered Accountants loans for women entrepreneurs

In a bid to promote women empowerment, numerous Banks and NBFCs offer special loan schemes to existing and potential women chartered accountants. These exclusive schemes offer a lot of benefits and special discounts in terms of quantum of loan, interest rate, security, etc. Furthermore, female chartered accountants can also benefit from the consulting, training, and counseling offered by several lenders to help them learn about various aspects of the market and industry. However, these loans are only available to women who hold more than 50% shares of a company.

Who could be eligible for a Chartered Accountants Loan?

All personal and professional loans come with their own set of eligibility criteria that needs to be fulfilled for the credit to be approved. The required conditions to secure a loan for Chartered Accountants are as follows:

  • The applicant needs to be a professional Chartered Accountant
  • The applicant must be practicing the trade successfully for at least two years
  • The applicant must be a licensed self-employed professional and possess a CA license issued by the ICFAI.
  • Age of the applicant should be minimum 21 and maximum 68 years at the time of loan maturity. (The age criteria differ from one lender to a lender).
  • The applicant should own a house or office, or your parents should own a house
  • Good credit rating score in credit bureau
  • Eligibility may vary as per Banks/NBFCs scheme chosen
  • Banks/NBFCs may offer Chartered Accountants loans to only certain cities and towns.

*If you are not sure if your business falls under a restricted category or location, you can contact us @ +91-90470 45470 to confirm your eligibility.

How Indian Banks/NBFCs determine Interest Rates for a loan for Chartered Accountants:

Loans for Chartered Accountants or Company Secretaries in India are professional loans and are offered at a slightly higher rate of interest than the regular personal loans. These rates of interest can be either Diminishing Rate of Interest or a Flat Rate of Interest. A Diminishing Rate of Interest means that the interest applies only to the outstanding principal amount. In this way, you pay to reduce EMIs as you move along the loan tenure. A Flat Rate of Interest is a fixed rate that remains constant along with the loan tenure. The EMI will remain fixed as it is repaid throughout your loan tenure. Generally, the interest rates of loans for Chartered Accountants range from 11% to 20%. These rates depend on several factors, like:

  • Applicant’s credit history
  • Annual turnover
  • Debt to income ratio
  • Number of years of operation of service
  • The financial health of your business
  • Type of lender
  • Lender credit policies applicable at that time

Chartered Accountants Loan Eligibility

Eligibility Criteria Requirement
Age Minimum Age: 21 years and Maximum Age: 68 years
Resident Type

The applicant must be (any one):

  • Resident Indian
Practicing Experience The applicant must be practicing the trade successfully for at least two years
Employment

The applicant can be (any one):

  • Self-employed professionals
  • Consulting professionals
Minimum Annual Turn-over At least Rs.40 lakh and above (per annum)
Net Annual Income At least Rs.1.50-5 lakh (per annum)
Credit score A good credit score of at least 700 or more obtained from a recognized credit bureau

Chartered Accountants Loan Documents

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For Chartered Accountants:
Identity Proof (any one):
  • PAN (mandatory)
  • Driving License/ Voter ID/Valid Passport/Smart Ration Card
Current Residence Address Proof (any one):
  • Copy of Driving License/Electricity Bill/Water Tax/Property Tax/Aadhaar Card/Telephone Bill/Valid Passport/Notary Public Affidavit
Passport Size Photograph:
  • Two passport size recent photographs
Own House Proof :
  • Own House EB bill or Latest House Tax Receipt (property should be in your name or your parents/spouse name)
For Company
Business Proof:
  • Professional Tax Receipt or SSI Certificate or Company’s RC (TIN No) Copy or Any other old business proofs
  • GST Certificate copy
Education Qualification Proof:
  • Certificate of Practice (CoP)
Income Proof:
  • Latest two Financial Year’s (FY) Income Tax Return copies with full set (with auditor seal & sign)
  • Bank account statements for all the bank accounts (Current/OD/CC) owned by the applicant for the last one year
For Co-Applicant (if needed):
Identity Proof:
  • PAN
  • Driving License/ Voter ID/Valid Passport/Smart Ration Card
Current Residence Address Proof (any one):
  • Copy of Driving License/Electricity Bill/Water Tax/Property Tax/Aadhaar Card/Telephone Bill/Valid Passport/Notary Public Affidavit
Passport Size Photograph:
  • Two passport size recent photographs

*Requirement of Chartered Accountants loan documents might vary according to the scheme chosen. Banks/NBFCs may require additional Chartered Accountants loan documents which will be intimated to you while processing your application.

Loans for Chartered Accountants Interest Rates

Compare the lowest Chartered Accountants Loan interest rates starting from 12.50% p.a. and apply for the best Chartered Accountants Loan. Get the complete list of current Chartered Accountants Loan rate of interest in India from all leading banks and financial institutions.

Chartered Accountant Loan
Bank/NBFCs Interest Rate (%) Processing Fees (%) Tenure (yrs.)
min max min max min max
Bajaj Finserv 8.5 17 1.5 2.5 1 6
HDFC Bank 12.5 15.65 Rs.2359 2.5 1 5
Axis Bank 14.25 16 0.99 2 1 5
IDFC First Bank 12.75 16.5 0.99 1.5 1 5
ICICI Bank 11.25 15 0.99 1.5 1 6
Yes Bank 12 14.5 0.99 1.5 1 5
IIFL 12.5 15 1.5 2 1 5
Fullerton India 12.99 36 2 3 1 5
Aditya Birla 13.99 14.5 0.99 2 1 5
Capital Float 14.99 16 1 2 1 5
Lendingkart 11 20 1 2 1 5

Chartered Accountants Loan Fees and Charges

Depending on the type of loan you are applying for, the following charges may be levied:
Processing fees :

This is a one-time non-refundable fee that is to be paid to the Chartered Accountants loan provider after the loan application has been approved. The processing charge varies depending on the bank and the loan scheme you are applying for.

Prepayment charges:

Prepayment penalty is the fee you will have to pay the lender if you plan on repaying your Chartered Accountants loan before the completion of the loan tenure.

Foreclosure Charges:

Foreclosure penalty is the fee you will have to pay the lender if you plan on foreclosing your Chartered Accountants loan before the completion of the loan tenure.

Cheque dishonor charges:

The fee is levied when the loan provider find that a cheque issued by the borrower is found to be dishonored due to reasons such as insufficient funds in the borrower’s account.

Insurance:

This is a one-time non-refundable fee that is to be paid to the Chartered Accountants loan provider after the loan application has been approved. Some Banks/NBFCs add this charge with the approved loan amount and deducted with EMIs.

Default charges:

Loan providers also charge a penalty on delayed repayments i.e. if you fail to make your Equated Monthly Installments (EMIs) or Pre-EMIs on time. The defaulting charges vary from one bank to another.

Incidental charges:

This charge covers for the expenses incurred by the bank to recover dues from a borrower who has failed to make his monthly installments on time.

Charges On Account Of Delayed Payments:

Delayed payment of interest or EMI shall render the customer liable to pay additional interest up to 24% per annum.

Annual/Additional Maintenance Charges

This charge is applicable for Dropline Overdraft Chartered Accountants Loan. Banks/NBFCs are charged up to 2% of Annual/Additional Maintenance Charges on your sanctioned loan amount.

Calculators

Chartered Accountants Loan FAQs:

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Do I need to go to a Banks/NBFC branches to get a Chartered Accountants loan?

No, there is no need to visit Banks/NBFC branches to apply for a Chartered Accountants loan. We have made the process simple; you can apply for a Chartered Accountants loan through our website.

You can submit required details through BankVallet.com and we will call you back and let you know about eligibility and application status. BankVallet will have the necessary documents picked up from your residence or office.

If you have any questions regarding the Chartered Accountants loan application process, please feel free to contact our customer care at +91- 90470 45470 or write to us at wecare@bankvallet.com.

How secure is my information when I provide it during the BankVallet loan comparison process?

All your sensitive information like personal/financial information is encrypted and safeguarded with our best in class security systems. We don't share your information with any marketing agencies or any 3rd party without your consent.

How long does it take to get a Chartered Accountants loan?

At BankVallet, we have simplified the process of obtaining a Chartered Accountants loan. You can visit our website and apply for the Chartered Accountants loan by submitting your details. We will call you back and notify you if you are eligible. Thereafter, you can submit your documents to our representative who will visit either your home or office as per your convenience. We strive to process the complete application within 48 hours of complete document submission. If you have any questions regarding the Chartered Accountants loan application process, please feel free to contact our customer care at +91-90470 45470 or write to us at wecare@bankvallet.com.

How will Banks/NBFCs determine my Chartered Accountants loan eligibility?

There are a number of factors that are taken into consideration before we approve your application for a Chartered Accountants loan. These include:

  • The corpus for a Chartered Accountants loan depends on numerous factors such as the amount of profit it makes annually, valuation of the Chartered Accountants, and operating industry of the Chartered Accountants in addition to the number of years it has been operational.
  • Your yearly business turnover which is showed in last 2 years ITR
  • Your latest 6-12 months Banking transactions which is transact in SB/Current/OD/CC accounts
  • Your work experience: Banks/NBFCs require self-employed individuals should have been in business for at least 2 years and SEPs at least 3 years of experience.
  • Your age: You should be at least 26 years at the time of loan application and maximum 70 years of age at the time of loan maturity.
  • Good credit rating: Banks/NBFCs examine your CIBIL record; They extend credit to individuals and entities with a good credit rating.
Do I need to provide any security or guarantor or collateral to apply for a Chartered Accountants loan?

Banks/NBFCs provide unsecured Chartered Accountants loans without any collateral. There is also no need for any co-signee or guarantor either. Lenders provide you with Chartered Accountants loans without security so that you can get easy access to credit for your business expansion needs.

Is the interest on my Chartered Accountants loan flat or reducing?

Many Banks/NBFCs levy the reducing interest rate on our Chartered Accountants loans. You will only need to pay interest on the outstanding principal amount.

What is the maximum loan amount I can get?

You can get a Chartered Accountants from a minimum of Rs. 3 lakh to a maximum of Rs. 50 lakh.

What is the tenure for which I can apply for a Chartered Accountants loan?

All lenders offer flexible tenures so that the EMI is always affordable and serves your needs instead of being a burden. You can choose loan tenure between 12 and 60 months when you take a Chartered Accountants Loan.

Can Banks/NBFCs offer Chartered Accountants loan as an overdraft?

Yes, you can avail Chartered Accountants loan with short term overdraft facility

What is Broken Period Interest?

An indicative broken period is the time gap between the disbursement of a personal loan and the time when the payment of EMI starts. Banks charge interest on the broken period which is called broken period interest. For example, the EMI of a particular personal loan has to be debited on the 5th of every month. Let’s say the loan has been disbursed on 1st of February, so on the 5th of February, you will have to pay interest of 5 days i.e. 1st to 5th February. The interest which you pay on 5th February does not include on your total outgo of the loan. Your EMI deduction will start from 5th of March onwards. In this way, the payment which you paid on the 5th of February was not considered towards loan repayment.

Is the interest rate for the Chartered Accountants loan standard between lenders?

No, the interest rates offered by lenders vary.

Is there any CIBIL impact if I close my Chartered Accountants loan?

Chartered Accountants loans are given in the name of businesses, and not individual names. There is no impact of closing a Chartered Accountants loan early on your CIBIL score.

What kind of Benefits of Prepayment the loan?
  • Reduces the outstanding principal.
  • Lowers either the EMIs or the loan tenure.
  • Frees you from debts quickly.

A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

How To Apply for a Chartered Accountants Loan

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Compare the best Chartered Accountants Loan packages

At BankVallet, we give you an overview of the latest Chartered Accountants Loan packages available in the market. With just a few clicks, you’ll be able to compare the best interest rates from our Banks and Financial Partners.

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Get in touch with our Chartered Accountants Loan Specialist

From knowing your loan eligibility to getting your IPA, we’ll fill you in with all the pertinent details regarding Chartered Accountants Loan. Our Chartered Accountants Loan Specialists will help you throughout the process and give you unbiased advice.

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Apply for your Chartered Accountants Loan

Once you have your IPA, we can get started with your Chartered Accountants Loan application. We understand that this is a major life decision and we’re here to guide you. With our help, the Chartered Accountants Loan application process can be completed within 2 working day.

Why Get Your Chartered Accountants Loan
Through Us?

Simple, Fast, Convenient

Leave your Chartered Accountants Loan research to us and we will break it down for you in simple terms. Our Chartered Accountants Loan Specialist will contact you directly so you can save time for other important things in life.

We compare so you get better deals

Feeling so spoilt for choice you cannot decide? Settling for the first option is like being forced to marry the first person you come across on a matrimony app. Don’t feel pressured. We compare across all banks in TamilNadu to ensure that you get the best deals.

Most importantly it's free!

Our service to you is free. But, of course we are not doing this for charity! All banks pay us a standard referral fee for our services and our awesome job done. We don’t take sides or give biased advice.

We have helped thousands of Tamilnadu Chartered Accountants to choose and apply for their Loans

My hearty thanks to bankvallet team. I availed my overdraft business loan from Bajaj Finserv today. I trying to get this type loan facility from various banks. But nobody cares and also they don't response my queries. I find bankvallet from Google and ask them to help.

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I really appreciate bankvallet team for their genuine loan service and support.

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