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HDFC Bank Business Loan
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 30 lakhs according to where the applicant is located and for tenure of 3 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.
Features and Benefits of HDFC Bank Business Loan
- Check your Business loan eligibility in a minute which is available across the branches all over India.
- Higher loan rate for self-employed customer.
- Interest rates, charges and loan amount provided for HDFC bank A/c holders are the best in class.
- Loan amount provided up to Rs. 15Lakhs(Selected locations up to Rs. 50Lakhs)
- Business loan also provided to repay home loans.
- Protects the family/ business with a Credit Protect Insurance Loan that covers the loan at a nominal rate.
- Contact HDFC through SMS, Web chat, Phone Banking across all the branches.
- No any guarantor/ security / collateral required.
- Speedy Approval.
- Protects your loved ones in paying off the loan in case of a natural /accidental death of the customer.
- Life Coverage.
- Tax Benefits.
- Convenient package – Insurance with loan.
Why would you choose HDFC Business Bank Loan?
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 INR 3 million for 3 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 3 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.
How to apply online for HDFC Bank Business Loan?
Finance Buddha is an online platform for all the business loan requirements. Here are the details required for knowing more about the application:
- Borrower name
- Company name
- Year of Incorporation/VAT/Service Tax Registration
- Loan amount range
- Choose the city
- Net profit after tax
- Mobile Number
- Depreciation amount range
- Email ID
- Director /Partner salary
HDFC Bank Business Loan Eligibility Criteria
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.
65 years at maturity of loan
Min. 3 years
Total Business Experience of Applicant
Min. 5 years
₹ 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
Eligibility Criteria for Different Employment Types
- Limited or Private Limited Company
Net income of the concern should be more than ₹ 150,000 per annum for business loan up to ₹ 1.5 million and over ₹ 300,000 for business loan above ₹ 1.5 million.
- Partnership or Proprietorship Firm
A minimum of 25% stake each can be clubbed to the income of the concern
- Chartered Accountant / Self Employed Professional
Who possess diploma or degree in any of these discipline like art / craft /profession or Who possess the skill that is considered as a profession from banks perspective shall be considered for any financial assistance. For example: Dental Surgeons, Accountants, Medical Practitioners, Engineers, Craftsmen, Management consultants, Construction contractors etc.
Factors Deciding HDFC Bank Business Loan Eligibility
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:
- Age Limit: The applicant should be min 21 years & max. 65 years.
- Income: Business should be profit making at least for the past 2 years.
- Turnover: Rs. 150,000 p.a. should be the minimum annual income.
- Co-applicants: This is optional to the applicant, not mandatory in case of business loan.
Checklist of the Documents Required for a HDFC Business Loan
- Identity proof - Voter ID card / Passport / Driving License/ PAN Card and MAPIN card
- Proof of Residence - Passport /Ration card /electricity Bill/ Lease agreement /Sales Tax certificate/Trade licence
- Copy of Bank Statement
- Latest ITR and statement of computation of Income for last 2 yrs.
- Proof of continuity of business
- Other Mandatory Documents that is Sole Proprietorship Declaration, Certified copy of Memorandum & Articles of Association certified by a director
- Original Board resolution (If Pvt ltd Co. Then Partnership Authorization Letter/ co-borrower if partnership firm just a co-borrower
- Financials audited/ certified by a CA
List of Common Documents
- Application form with applicant’s signature and photograph.
- Valid Proof for Identity: Passport /Ration card /electricity Bill/ Lease agreement / Sales Tax certificate/Trade licence
- Residence Proof: Ration card Tel/ Lease agreement/ Electricity Bill/ Passport/Trade license /Sales Tax certificate
- Age Proof: Passport, PAN card, Voter’s identity card
- Financial Documents: Copy of IT returns for last two years and latest Bank statements for 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A.
- a. Self Employed (Private Ltd. Co. and Partnership Firms): Copies of IT returns for the last two years and Profit and Loss balance sheet for the last two years audited by a C.A
- b. Self Employed Individuals - Professionals: Copies of IT returns for the last two years and Bank statements for last 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A
- c. Self Employed Individuals - Non Professionals: Profit and Loss balance sheet for the last two years audited by a C.A and the Copies of IT returns for the last two years.
Self Employed (Private Ltd. Co. and Partnership Firms)
- Identity proof of private limited company: PAN ID /VAT /Service tax / Sales tax /Excise registration, / IT return of the concern/ Electricity bill /Water bill/ Registration under Shops and Establishment Act/Municipal tax bill in the name of the concern, Articles of Association and Memorandum
- Proof of identity to be submitted for the authorized signatories (2 Directors which includes the managing director) (any one of the following): PAN card, Voter’s identity card, Passport and Driving license
Self Employed Individuals – Professionals
- Identity Proof of sole proprietorship
- PAN ID / IT return of the concern or Municipal tax, Water bill and Electricity bill in the name of the concern
- The identity proof to be submitted for the sole proprietor : Passport, Voter’s identity card ,Driving license, PAN card,
- Address Proof for the sole Proprietor: Driving license, Voter’s identity card ,Ration card, Passport
Self Employed Individuals - Non Professionals:
- Identity proof of the sole proprietorship
- Individual identity proof
- Income tax returns minimum 3 years
- Sales tax returns minimum 3 years
- Copy of periodic stock, age wise book-debt and creditors-statement for latest three months
- Copy of bank statement of main banker / copy of bank statement for the term loan for last months
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.
HDFC Business Loan Interest Rates, Fees & Charges:
The below table will give an overview of the rates and charges by HDFC Bank. This will help you to check if your business needs can be met through a business loan from this bank.
Interest Rate Charges
15.50% to 18.30%
Loan Processing Charges
Up to 2.50% of the loan amount subject to a minimum of ₹1,000/- & Maximum of ₹ 75000/-
No pre-payment permitted until repayment of 6 EMIs
07-24 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)
Duplicate no due certificate / NOC
Charges for late payment of EMI
@ 24% p.a.
Charges for changing from fixed to floating rate of interest
Charges for changing from floating to fixed rate of interest
Stamp Duty & other statutory charges
As per applicable laws of the state
Credit assessment charges
Nonstandard repayment charges
Cheque swapping charges
Amortization Schedule charges
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
CIBIL Report Copy Charges
₹ 50 Per Copy
Q IV (2016-17)
Annual Percentage Rate offered to customer during the period of January'17 to March'17.
Q 1V (2016-17)
Frequently Asked Questions
How much business loan amount can be availed through HDFC bank?
How do I repay my business loan?
Is there any need for security to obtain a Business loan?
What is the business loan tenure?
Is there an option to pre-close the business loan?
What is the average approval time for a business loan?
What are the documents required for business loan?
Is there part-payment option for HDFC bank business loan?
What is the age limit to apply for a business loan?
Is there any processing fee for HDFC bank business?
Reviews 4.97 stars, based on 30 reviews
Thank you HDFC bank for helping me with a business loan during difficult times of my business with low interest rates. Banking with HDFC is the best experience I have had.Aishwarya Jayal 5/5
I applied for a business loan with two other banks and there was no progress and finally I applied with HDFC bank and got the loan approved within 13 days.Dechamma 5/5
HDFC bank is best for business loan. I have recommended this to my friends.Sachith 5/5
I had a savings bank account with HDFC bank; this helped me to get a business loan easily. There was very less documentations required and bank checked my income status directly. Business loan was approved at 16.5% rate of interest; this is very low as compared to other major banks in India that offer business loan.Roney Jose 5/5
I was informed by my friend that HDFC bank will offer business loan within 7 days. Though I felt that time line is not realistic, I applied for a loan with HDFC bank and was surprised to get the loan approved within 5 days. HDFC bank is very fast and reliable. Thank you Prasad for referring HDFC bank to me.Shiju Abraham 5/5
I had taken a business loan from HDFC bank for 2 years tenure but decided to pre-close it after 6 EMIs. Bank agreed to this and they processed the pre-closure request. Very less amount was charged as fee for pre-closure service.Shalini 5/5
HDFC bank executives deliver services according to what is promised to its customers. I got business loan from HDFC bank through Finance Buddha within 8 days. This is a very quick turnaround time and processing fee was waived off due to Christmas and New Year offers.Rahul 5/5
I took a business loan from HDFC bank for business expansion purpose. The process was very quick and everything was very neatly organized. I would recommend this bank for business loan to everyone who is looking for hassle-free loan processing.Shailaja 5/5
HDFC bank is known for excellent and fast processing of loan. And the rate of interest is also low. I thought all these are offered only for personal loan but now I realized these offers are available for business loans as well. I got the cheapest business loan deal from HDFC via financebuddha.com.Bobin Samuel 5/5
Anyone who is looking for business loan should try with HDFC bank. As per my personal experience I feel this is the best bank for business loan. Loan is offered by HDFC bank for different types of business requirements.Celin 5/5
I received a very satisfactory service from HDFC bank on my business loan application. Loan was disbursed within 11 days; all documents were collected from my office on the very next of sending online application. HDFC bank is very quick at processing loan.Stephen 5/5
I tried HDFC bank for the first time and getting a business loan was a hassle free process. Everything was well organized in this bank. I loved the overall experience and have suggested this bank to one of my friends for home loan.Sneha Mohan 5/5
If you want experts to handle your business loan application then apply for a loan at HDFC bank. They are good at providing great service to each customer. They charged me only 1% for processing fee and 13% was the rate of interest. Rate of interest is low as compared to other banks’ interest rates- 16% and 18%.Kavya Madhav 5/5
HDFC Bank is best for business loan. They updated me on the status of the loan application in a timely manner. Offered low rate of interest. Documents were collected from door step. Processing fee was very low. Pre-closure option is available after 6 EMIs. Lot of additional benefits is offered at HDFC bank for business loans.Sanjay Mohandas 5/5
Through Finance Buddha I was able to understand how much business loan I am eligible for from each bank. And by comparing I figured out HDFC bank is offering best deals for business loan. I applied for a business loan with HDFC bank through Finance Buddha. Bank executive collected documents the same day and by 3rd day loan is approved. Am waiting for the money to be disbursed to my account. Very quick service is offered by HDFC bank with low rate of interest.R.F. Adbullah 5/5
Am amused that Finance Buddha is offering such great service for zero fees. This website is very informative and helpful. I used this to compare business loan rate and charges between different banks and also used it to check my eligibility for a business loan with HDFC bank.Niharika Kulkarni 5/5
In order to expand my business I was in search of a business loan. Through Finance Buddha, I did complete comparison and finally decided to go with HDFC bank. My decision was right and I got loan within 10 business days from HDFC bank. All information given by Finance Buddha about HDFC bank is 100% accurate and reliable. This saved a lot of time as there was no need for me to contact bank to get generic information about the loan.Mayavathi 5/5
I would rate this bank 5/5 for the customer support offered by this bank for a business loan. Thank you HDFC bank for providing highly informative executives to handle customers. I saved a lot of time as Akash – the executive who addressed all my queries on time.Yashoda 5/5
I have a start-up business and decided to take business loan from HDFC bank but was worried about the rate of interest and other charges. HDFC bank clearly understood am applying for business loan for the first time, so the executive tried to make sure all the rules, terms and conditions are explained to me well in advanced to clarify all sorts of doubts.Keerthana Darshan 5/5
All this while I have taken personal loan from HDFC bank, this was the first experience of taking business loan and I am very happy with their service. Lot of information about the loan was shared by the executive and all the terms and conditions were clearly explained.Nikitha 5/5
Got my loan approved in 2 days and got money in my account within next 3 days. Super-fast bank and satisfied service.Nayana Nair 5/5
Am very thankful to HDFC bank for approving my business loan within few days. The rate of interest was 15.75% - I feel this is a good deal as compared to what was offered by other banks.Mohammed Tabrez 5/5
My business loan was very quickly approved. Though I didn’t get the amount that I was expecting, the service and rate of interest is attractive and appealing.Kiran Mariam 5/5
Satyajit is a very helpful and professional customer care rep. He helped me to solve all the issues within a day, even when other banks were hesitant to approve huge amount of loan, HDFC bank approved this without much issues.Issac Jose 5/5
Customer care service is excellent. Through phone banking everything about my loan was taken care. Very realistic and professional approach is taken for all services.Stanley J 5/5
Received my business loan approved and money was in my account within 11 days. Very quick service and overall I had a great experience. Special thanks to Finance Buddha.Gracy Thomas 5/5
It was a great experience to work with HDFC bank. I have received business loan with very less interest rates.Sahitya Suresh 4/5
One of the best customer oriented bank, I am completely satisfied with service and everything about by business loan.Vinod Kumar 5/5
Great bank to get loan from is HDFC bank. Requires less documentation and processing are pretty fast.Karthi Kiran 5/5
I have had the best banking experience with HDFC bank while availing my business loan; the whole process was fast and simple.Prince Mathew 5/5