Why is a Solvency Certificate Required?

A solvency certificate has several important uses. Some of the most significant include:

• Providing official documentation of solvency for tender submissions.

• Meeting the requirements for visa applications and interviews.

• Qualifying for contracts in both government and private sectors.

• Establishing eligibility for enrollment in medical and engineering institutions.

Required Documents to Issue a Solvency Certificate

Acquiring a solvency certificate typically involves submitting a comprehensive set of documents. It's essential to recognize that these requirements may differ among issuing authorities and applicants. Below is a list of documents commonly required for obtaining a solvency certificate:

• Request form

• Net worth certificate issued by a Chartered Accountant

• Savings account statement (if applicable)

• Building value documentation

• Passport-size photographs

• Current account statement (if applicable)

• Share investment details (if applicable)

• Certificate of gold valuation issued by a banker, based on gold weight and value

• Mutual fund investment details (if applicable)

• Insurance policies (if applicable)

• A certificate of valuation from a Chartered Engineer (if applicable)

• Provident fund account statement (if applicable)

• Original Encumbrance Certificate of the property

• Copy of passport (if applicable)

• Liability amount certificate

• Mortgage certificate

• Land revenue or property tax receipts (if applicable)

• Lease Rent Agreement Format (if applicable)

• Self-declaration by the applicant

• Police Verification Certificate

Application Process

Visit the official website of your bank. Many banks offer online services, including the application for solvency certificates.

• Click on “Apply Online.”

• Enter your mobile number and click on “Request OTP” to receive a One-Time Password.

• In the “New Request” section, choose “Services.” After selecting your preferred

• language, click on “Solvency Certificate.”

• Provide your personal information and select your preferred delivery method. Upload the

• necessary documents and click “Save.”

• Proceed to make an online payment through the “Online Payment” option.

• Choose your Card Type and complete the payment process. Once the payment is successful, an acknowledgment number will be displayed on the screen.

How to Download

To obtain your solvency certificate from the website where you submitted your application, please follow these steps:

• Go to the state’s website and select the ‘Check Status’ option.

• Input your application number.

• Click on the ‘Search’ button.

• Find and click on ‘Download Certificate’ to retrieve your solvency certificate.

How to Track the Application Status of a Solvency Certificate?

Tracking the application status of a solvency certificate is a straightforward process. Follow these general steps to check the status of your application online:

• Visit the Official Website:

• Visit the official state government website that offers solvency certificate services.

• Locate the Online Application Section:

• Find and click on the ‘Online Application’ section or a similar tab.

• Select Application Status:

• Select the ‘Application Status’ option from the available menu.

• Enter Your Application Number:

• Input your unique Application Number in the designated field.

• Select the Application Type:

• Choose the appropriate application type from the dropdown menu or options provided.

• Click Get Status:

• Click on the ‘Get Status’ button or link.

• View the Current Status:

• The current status of your solvency certificate application will be displayed on the screen.

Disclaimer

The information provided in this blog is purely for general informational purposes only. While every effort has been made to ensure the accuracy, reliability and completeness of the content presented, we make no representations or warranties of any kind, express or implied, for the same. 

We expressly disclaim any and all liability for any loss, damage or injury arising from or in connection with the use of or reliance on this information. This includes, but is not limited to, any direct, indirect, incidental, consequential or punitive damage.

Further, we reserve the right to make changes to the content at any time without prior notice. For specific advice tailored to your situation, we request you to get in touch with us.