CA personal loans are personal loans, which are not secured but have unlimited usage, without any restrictions. Some banks also have a repayment facility of 12 to 60 months. In this type of loan, a chartered accountant can get a loan up to INR 35 lakhs.
The Documents Required to Borrow a CA Personal Loan is:
  • CoP Certificate – CoP or the Certification of Practice is required for all Chartered Accountants applying for a loan as an individual. This certificate is issued by the Institute of Chartered Accountants of India. It denotes the eligibility of an individual to practice and their proficiency in the field. You must have an active CoP certificate to be eligible for a CA Personal loan.
  • A credit score of 750 and above is also beneficial in applying for a loan.
  • KYC Documents – As with all loan, KYC documents are a necessity for every individual. KYC Documents include Aadhar Card, Driving License, PAN Card, Passport and Voter ID.
  • Bank Statements – A borrower needs to submit a bank statement of last 6 months for this loan. The bank reviews the statements to see the financial condition of the individual and its capacity for loan repayment.
  • Photograph – everyone must submit their passport sized photographs while filling up the loan form.
After submitting the above CA loan documents, you can get loan disbursal within 24 hours. Some banks take longer time to process when additional information is required.