Business Loan for
Chartered Accountants

Nurture your balance sheet!

T&C Apply*

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.

We understand your needs for quick financing and so we are here to offer customised business loans for chartered accountants. Our digital lending processes along with fast disbursals help you expand or consolidate your practice and business at the right time.

Features And Benefits

Unsecured Loans

No collateral is required for business loans of up to INR 75 lakhs*, making them ideal for accessing crucial capital without putting your personal or professional assets at risk.

Quick, Hassle-Free Applications

Our application process is simple and can be completed online from the comfort of your office or home.

Flexible Repayment Tenure

Choose a repayment tenure of up to 60 months* that suits your cash flow, ensuring better financial stability.

Minimum documentation

No lengthy paperwork is required for our business loans for chartered accountants. Focus more on your practice and less on formalities.

*Terms and Conditions apply

Eligibility Criteria for a Business Loan for Chartered Accountants

Chartered accountants applying for a business loan must meet the following basic requirements:

Established Practice: Applicants must have an active and operational practice for at least 3 years to demonstrate business stability.
Age: The applicant must be at least 22 years old at the time of application and not exceed 65 years of age when the loan matures.
Credit Score: A strong credit score of 750 or above is crucial for demonstrating creditworthiness and increased chances of securing a business loan with favourable terms.
Financial Health: The applicant's practice must show steady income and consistent profitability over the past 2 years.

*Please note that given above are the basic eligibility criteria. The final eligibility will depend on several factors including SMFG India Credit’s policy at the time of loan application.

Documents Required for a Business Loan for CA

If you are looking for a business loan for chartered accountants, make sure to gather the following documents before submitting your application:

Identity Proof: PAN card, driving licence, etc.
Address Proof: Voter ID, passport, driving licence, electricity bills, etc.
Bank Statements: The latest 6 months’ bank statements.
Income Documents: Last 2 years ITR, computation of income, balance sheet, and profit and loss account certified by a CA.
Proof of Business: Certificate of Practice (COP) or equivalent proof of an active practice.
Other Documents: Passport-sized photographs, GST, etc.

*Additional documents may be requested depending on your individual profile and SMFG India Credit’s policy at the time of loan application.

Applicable Fees and Charges

Knowing interest rates and associated charges, such as processing fees, can help chartered accountants looking for a business loan make more informed borrowing decisions. Here’s a breakdown of the key fees and charges to be expected when applying for an SMFG India Credit business loan:

Fee Type	Applicable Charges
Interest Rate	Minimal and competitive interest rates (depending on several factors including location, net income, business stability, collaterals, existing monthly obligations, etc.)
Processing Fees	Up to 5% of the total loan amount + GST
Late Payment Charges	Up to 3% per month (36% per annum) on overdue amount calculated on day to day basis payable from the relevant due date till date of actual payment.
Collection of Cheque/Cash (per collection)	NIL
Cheque or ECS Dishonour Charges (per dishonour of cheque or ECS per presentation)	INR 500
Swap Charges - for any change in repayment instruments (per instance)	Rs. 500
Loan Cancellation Charges (loan cancelled before the first EMI)	Rs. 1000 - 2500
Foreclosure Charges	Up to 7%* of the principal outstanding

How to Apply for a Business Loan for Chartered Accountants?

You can follow these steps to easily apply for a business loan for chartered accountants:

Provide Basic Details: Begin your online business loan application here by selecting ‘Business Loan/SME Loan’. Enter the necessary details, upload the required documents, and specify the loan amount as well as your preferred tenure. Ensure that all documents are current and accurate to avoid any processing delays.
Wait for the Decision: Once your details are submitted, you’ll receive an immediate decision on whether your business loan application is eligible for further consideration. If approved, a reference number will be provided – please keep this number handy for any future communication. An SMFG India Credit representative may contact you for any additional information if needed.
Wait for Approval and Disbursement: Your loan application will undergo several verification steps, including document checks, address verification, and document collection. After successful verification, you'll receive a personalised loan offer outlining the loan amount and interest rate. Upon final approval, the loan amount will be disbursed to your account.

Promotional Video

With the rustic flair of desi music and subtly infused humour, this video tells a story of a small retailer who was able to grow his small business with a loan. Watch now and enjoy!

Page also available in: हिन्दी - Hindi

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

FAQs

What is the maximum amount available under a business loan to CA?

Chartered accountants can apply for unsecured business loans up to INR 75 lakhs* at SMFG India Credit. However, the final loan amount will depend on several factors such as the applicant's eligibility, creditworthiness, and the financial health of the business.

What is the range of tenure available on business loans for chartered accountants?

Business loan tenures for chartered accountants at SMFG India Credit range from 12 to 60 months.

How can I apply for a business loan for chartered accountants?

You can apply for a chartered accountant's business loan by submitting an online application with your personal and professional details and uploading the relevant documents. Alternatively, you can visit the nearest SMFG India Credit branch with the required documents to apply for a business loan in person.