Chartered accountant loans are a suite of secured and unsecured professional loans specifically for CAs and offered by NBFCs.

Secured CA loans are provided against collateral which is usually an asset like residential property. Failing to repay the loans results in the lender seizing that asset and liquidating it to compensate. Hence, secured loans can be somewhat risky for borrowers.

On the other hand, an unsecured professional loan is provided without any collateral. These are ideal for CAs who don’t want to pledge any asset. These loans are useful in cases of big expense; for instance, going on an exotic vacation or expanding your CA firm following useful tips.

Unsecured or collateral-free CA loans come with the following pros and cons:


1. Minimal documentation process

You need to produce only these few documents to avail unsecured loans:

  • Your certificate of practice.
  • Identity proof (PAN, Driving License, Aadhaar, Voter ID, Passport, etc.).
  • Bank account statement of the previous 3 months.

On the other hand, you must provide documents of the asset you want to pledge as collateral with a secured loan.

2. Rapid loan approval

The approval time of collateral-free CA loans is less as the documentation process is shorter. Lenders can approve an unsecured professional loan for CAs within 24 hours.

Contrarily, secured loans have a longer approval time as lenders scrutinise the collateral’s documents to verify it.

3. Increases your credit score

Your credit score improves when you avail an unsecured CA loan and make timely repayments without defaulting. These also help you build a healthy credit history.

However, you have to ensure to pay the loan EMIs within the due date. Doing so will improve your CIBIL score. A good credit score and a sound credit history can secure a higher loan amount in the future. The same can also help you receive lower CA loan interest rate than standard customers.

4. Flexibility when you borrow and repay

NBFCs like Bajaj Finserv provide with Flexi Loan facility that enables you to borrow as per your requirements. You’ll only pay interest on the amount you withdraw from the sanctioned funds. Also, you can pay only the interest as EMIs and repay the principal at the end of the loan tenor. Flexi Loan facility helps you save considerably in EMIs compared to traditional loans.

Bajaj Finserv also brings pre-approved offers that make the process of availing loan hassle-free and help you save time. Pre-approved offers come with business loans, personal loans, home loans, and numerous financial products and services. You can have a look at your pre-approved offer by providing only your name and phone number.


1. High credit score required to apply

Lenders check for a high credit score among customers to sanction an unsecured professional loan. A good CIBIL score certifies that you are creditworthy to avail a collateral-free loan, and you can repay it without defaulting.

The ideal credit score that NBFCs seek is 750. And, such a high score is a bit difficult to achieve, especially for new creditors.

2. High interest rates

The unsecured CA loan interest rate is usually high compared to secured loans. Lenders undergo considerable risk when they sanction these loans as there’s no collateral pledged. Hence, they compensate for the risk involved with a high rate of interest.

However, some NBFCs like Bajaj Finserv provide unsecured CA loans against comparatively low interest rates.

Make sure to meet all the eligibility criteria to qualify and apply for a Bajaj Finserv Loan for Chartered Accountants. For example, you need to hold a Certificate of Practise that is active for at least 4 years and own a house/office where the lender operates.

Unsecured CA loans are exceptional if you want to make big-ticket purchases or look to address financial gaps in your business.


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