The borrower should be practicing or consultant chartered accountant, by qualification and profession.
The borrower should be in the age bracket of 25-65 years
Most institutions have a minimum post qualification experience criteria
The borrower should have a residential property or office in their own names or in the name of their parent(s)
Minimum monthly salary as mandated by the lending organization, in case the CA has their own practice, most lenders refer to the profits generated in the past few years
Applying for a business loan for CA with leading organizations like the Bajaj Finserv can be hassle free and quick. The key documents should include, Certificate of Practice (CoP) till the date of the loan application, KYC documents, Bank statements, and photographs. Most institutions prefer the Certificate of practice for the last four years. ICAI also has tie-ups with institutions to offer loans to Chartered Accountants at competitive interest rates and with minimal documentation. The rates offered could also vary based on whether the CA is in service or has their own practice. The rates for a CA with their own practice could vary based on their financial health and success.