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HDFC Bank Business Loan - Apply Online @15.65%

4.8 stars based on 50 reviews

Business Loan Details

Company Details

Turnover

Net Profit After Tax

Depreciation

Director/Partner Salary

(Not Applicable for Proprietorship Firm)

Personal Details

Rate of Interest is high ?
Rate of Interest is high ?

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Not getting the desired Loan Amount?

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Have multiple existing loans?

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HDFC Bank Business Loan Details

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 ₹ 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.

HDFC Bank Business Loan Details

Institution Type: Bank

Minimum Loan Amount: ₹ 50,000

Maximum Loan Amount: ₹ 5,000,000

Minimum Tenure: 12 months

Maximum Tenure: 48 months

APR: 15.65% to 21.20%

Fees & Charges: Up to 2.50% + GST as applicable

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 ₹ 5,000,000.
  • 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 ₹ 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.

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
  • Turnover
  • 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.

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

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.

HDFC Business Loan Interest Rates, Fees & Charges

Facility

Charges

Interest Rate Charges

15.65% - 21.20%

Loan Processing Charges

Up to 2.50% + GST as applicable

Prepayment

No pre-payment permitted until repayment of 6 EMIs

Pre-payment charges

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)

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

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.

Frequently Asked Questions

How much business loan amount can be availed through HDFC bank?

From INR 50,000 to INR 4,000,000 can be availed depending on the income of the applicant.

How do I repay my business loan?

It should be repaid through EMIs- Equated Monthly Installments; it can either be through standing instructions and post-dated cheque.

Is there any need for security to obtain a Business loan?

There is no need for collateral or security for availing a business loan.

HDFC Bank Business Loan ReviewsView All

Anandita roy

5 / 5

My overall experience with the HDFC Bank is quite good. My business loan was approved by them at 15.50% P.A. and the processing fees was also low. The documentation process was completed in 4 days and on the 6th day I was having the money in my account. I will recommend to use HDFC BANK to others also if they are in need of any kind of loan. They are the best bank to help you.
Vivek

4 / 5

My business loan was approved with HDFC Bank. The interest rate and the processing charges all were fine. But when it comes to the processing time it took them more than 10 days to approve my loan. The processing requires to be a bit faster. I will give 4 stars to HDFC Bank.
Mahendar

5 / 5

I applied my business loan with some other Bank but they were taking much time in the process and I was even not sure that my application will be approved so I withdraw my application and applied for my business loan with HDFC Bank. My experience here was totally different from earlier one. My application was approved in 5 days.
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