Loan certificates: what is different
The reference number, the lending institution, and why there is no currency conversion.
A loan certificate is the standard net worth certificate addressed to a lender. Only the first step differs.
This page describes the earlier loan certificate
New certificates for bank finance, a bank guarantee or an education loan use the purposes built on the Guidance Note — see Net worth for a bank or addressee. Loan certificates you have already issued still open, edit and re-export; this page describes them.
When to use it
When a bank or financial institution has asked for a net worth or asset valuation certificate as part of assessing a borrower.
Three purposes used to open this certificate:
- For bank finance
- A home, business or personal loan.
- For a bank guarantee
The bank is being asked to issue a guarantee rather than lend.
- For a student or education loan
Usually about the parent or guarantor rather than the student.
The document is the same in all three. What differs is the UDIN category you select on the ICAI portal — the Handbook's Annexure II gives bank finance, bank guarantees and study loans a number each, and the purpose card names the right one.
Note
The ICAI Handbook names all three purposes but drafts a format for none of them, so this certificate's wording is ours, built on the same Guidance Note skeleton its own formats follow. The cards say so.
What is different
Basic Information changes in three ways:
- Reference Number
Your own reference for this certificate. Banks quote it in correspondence.
- PAN NumberOn each individual
A lender identifies a borrower by PAN, where an embassy uses a passport.
- Bank / Institution Name
Who the certificate is addressed to.
- Bank Address
There is no embassy block and no currency conversion — a lender wants rupees.
Steps 2 to 6 are identical to the standard net worth certificate.
Secured borrowing reads differently here
Step 5 asks whether each liability is secured or unsecured. That distinction matters more to a lender than to anyone else: they are assessing what is already charged against the assets in your schedule.
Where a property in step 4 secures a loan in step 5, say so in the liability's Description. A reader should not have to infer it.
Naming the valuer earns the valuation
Immovable property takes a Valuer Name. For a loan certificate this is worth filling in wherever a registered valuer has been engaged — a credit officer weighs a valued figure differently from an estimated one.
Reference numbers
The field is free text and OptiVida does not enforce a format. Whatever series your practice uses will do; the value is that the certificate and your own file agree.
Last updated 23 Sept 2026
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