India has a prosperous market for chartered accountants and auditors. Currently, there are almost 2.8 lakh practising accountants in India, half of whom work as salaried individuals, and the other half as self-employed operating their own CA firms.

Both salaried and self-employed professionals require a steady flow of funds from time to time for their personal and professional requirements. In situations like that, they often opt for a CA loan to meet any unforeseen or planned financial need.

Loans for chartered accountants are a suite of credits designed for professional CAs. These often come in various types, like a personal loan, business loan, home loan, and loan against property for chartered accountants. An eligible applicant can avail a large sum of money at borrower-friendly terms to tackle their monetary shortcomings.

Although such a professional loan can prove to be an affordable and convenient way to fulfil short or long-term goals, there are certain factors every borrower should be aware of before they apply for credit and during repayment. Let’s take a look.


  • Credit score – Your credit score is probably one of the most crucial deciding factors to avail a loan for chartered accountant. It is a three digit number that numerically represents your financial history behaviour. If you have repaid your previous credits on time, haven’t defaulted, and kept the credit utilisation ratio within the recommended limit, you will be deemed financially responsible and highly creditworthy.


Lenders usually look for applicants with a credit score of 750 or higher. Not only does it increase the chances of approval for a CA loan, but a higher credit score also allows you to negotiate better interest rates, larger loan amounts, and longer tenors. You should always check your credit score before you apply for a credit.

You should improve your credit score before applying for an advance to improve your chances of approval. You can follow some simple methods of how CAs can increase their credit rating, like availing smaller advances and repaying them on time, keeping at least 6 months gap between 2 credit applications, etc.


  • Update the documents – During the application process, you are likely to be asked for a variety of documents like Certificate of Practice, tax returns, business returns, bank statement, etc. You should keep these factors in mind and have your firm’s documents ready for a hassle-free application process.
  • Consider your options – Go through the terms and conditions of the lenders that offer such credit and decide which one will be ideal for your situation. Financial institutions often pack a host of features and benefits that might prove useful while repaying the loan.


You should also consider the interest rate and other additional fees while applying for such a professional loan. Too high CA loan interest rates will strain your repayment capability, while too low rates are likely to attract higher fees and charges like processing fees, statement charges, etc.

Acquainting yourself with the process of availing a loan for chartered accountant and remembering the above mentioned factors will help you go through the application process successfully. Create a checklist for a CA loan and follow it throughout the application process to have the funds sanctioned quickly.