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Getting business loans from the first-class bank- HDFC Bank is quick, easy and very attractive. Use the flexible online business loan EMI calculator in Finance Buddha to know more about the EMI you will have to pay for the amount you borrow. If you are looking for a bank that can give approval in just few minutes for a business loan, HDFC bank is the ideal place. Business loan can be availed upto ₹ 5,000,000 according to where the applicant is located and for tenure of 4 years. Irrespective of what your business need is make use of the HDFC banking service for availing a business loan.
Thinking of starting a business or upgrading your business? Then HDFC Bank is the best option for you to propel in your business venture. You can expand your business and upgrade the equipment by using the business loan which is hassle free and quick enough to boost your business. Here are the benefits and features.
Institution Type: Bank
Minimum Loan Amount: ₹ 50,000
Maximum Loan Amount: ₹ 5,000,000
Minimum Tenure: 12 months
Maximum Tenure: 48 months
APR: 11.90% to 21.35%
Fees & Charges: Up to 2.50% + GST as applicable
HDFC Bank has surpassed all its peers in the number game and the growth record has been unsurpassed by the world’s biggest leaders. HDFC Bank has been confident and steady making millions of customers contended from past 25 years making it the most valuable lender.
When a loan is taken from HDFC Bank all the charges will be communicated up front with the loan quotation. The service provided will be hassle free and at competitive rates.
This bank provides special offers, interest rates and charges for all account holders. Easy documentation processing as well as 100% transparency on every transaction is offered. Maximum Loan given is up to ₹ 5,000,000 for 4 years. Special and flexible interest rates are given for women borrowers along with fastest loan approval facility – as fast as 10 Seconds. Repayment options are very flexible ranging from 1 year to 4 years. Loan is offered for even First Time Loan Borrowers who is looking for fund for a start up with no hidden charges, low processing fee & flexible repayment options.
Finance Buddha is an online platform for all the business loan requirements. Here are the details required for knowing more about the application:
HDFC Bank provides business loans for Entrepreneurs, Private Ltd. Cos. and Partnership Firms involved in Manufacturing, Trading or Services Business.
Below are the different eligibility criteria for availing a business loan from HDFC Bank.
Criteria |
Requirement |
Min. Age |
21 years |
Max. Age |
65 years at maturity of loan |
Business Age |
Min. 3 years |
Total Business Experience of Applicant |
Min. 5 years |
Min. Turnover |
₹ 6 million, with profit in last 2 years |
Min. Annual Income (ITR) |
Category A City: ₹ 250,000 |
Category B City: ₹ 200,000 |
|
Category C City: ₹ 150,000 |
To be eligible for a business loan from HDFC Bank there are a lot of factors that are considered. HDFC Bank looks into many criteria prior to sanctioning it. Few important ones are:
Facility |
Charges |
Interest Rate Charges |
11.90% - 21.35% |
Loan Processing Charges |
Up to 2.50% + GST as applicable |
Prepayment |
No pre-payment permitted until repayment of 6 EMIs |
Pre-payment charges |
06-24 Months - 4% of Principal Outstanding |
25-36 Months - 3% of Principal Outstanding |
|
>36 Months - 2% of Principal Outstanding |
|
No Due Certificate / No Objection Certificate (NOC) |
NIL |
Duplicate no due certificate / NOC |
NIL |
Solvency Certificate |
Not applicable |
Charges for late payment of EMI |
@ 24% p.a. |
Charges for changing from fixed to floating rate of interest |
Not applicable |
Charges for changing from floating to fixed rate of interest |
Not applicable |
Stamp Duty & other statutory charges |
As per applicable laws of the state |
Credit assessment charges |
Not applicable |
Nonstandard repayment charges |
Not applicable |
Cheque swapping charges |
₹ 500/- |
Amortization Schedule charges |
₹ 200/- |
Loan cancellation charges |
NIL (However Interest would be charged for the interim period between date of loan disbursement and date of loan cancellation and processing fees would be retained) |
Cheque Bounce Charges |
₹ 550/- per cheque bounce |
Legal / incidental charges |
At actual |
CIBIL Report Copy Charges |
₹ 50 Per Copy |
It is mandatory to fill in the Business Loan Application form, irrespective of which business loan you are looking for, without the application the loan will not be processed.
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