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.
Chartered accountants applying for a business loan must meet the following basic requirements:
*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.
If you are looking for a business loan for chartered accountants, make sure to gather the following documents before submitting your application:
*Additional documents may be requested depending on your individual profile and SMFG India Credit’s policy at the time of loan application.
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% + GST charged monthly (36% per annum) on the overdue amount calculated on a day-to-day basis |
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 replacement of Post-dated Cheque to ECS (per instance) |
INR 500 |
Swap Charges for replacement of ECS to ECS (per instance) |
INR 500 |
Loan Cancellation Charges (loan cancelled before the first EMI) |
INR 1,000 |
Foreclosure Charges |
Up to 7%* of the principal outstanding |
You can follow these steps to easily apply for a business loan for chartered accountants:
* 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.
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.
Business loan tenures for chartered accountants at SMFG India Credit range from 12 to 48 months.
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.
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