HDFC Bank Business Loan Eligibility

HDFC Bank Business Loan Eligibility Calculator is a very helpful financial tool which helps you to check your HDFC Bank Business Loan Eligibility online. If you are planning for HDFC Bank Business Loan apply online, you need to check your business loan eligibility in HDFC Bank beforehand. For calculating Business Loan Eligibility in HDFC Bank using HDFC Bank Business Loan Eligibility Calculator, you need to enter a few details like- your monthly income, your current yearly turnover, your existing financial debts, etc. In order to have a high HDFC Bank Business Loan Eligibility, you must have a minimum CIBIL score of 750 or above. Use of HDFC Bank Business Loan Eligibility calculator is completely free and eases up the process of business loan which you can use to expand your business or other business related needs.

Factors that affect HDFC Bank Business Loan Eligibility Calculator

When you are planning for HDFC Bank Business Loan apply, you must check your Business Loan Eligibility in HDFC Bank, which will lower down your chances of loan rejection. HDFC Bank Business Loan is an unsecured loan which means you do not have to pledge anything for the loan. HDFC Bank Business Loan Eligibility will be high and the interest rate will also be high as because if you fail to repay the loan, the bank cannot take anything from you.

Here are the following factors which affect HDFC Bank Business Loan Eligibility Calculator-

• Applicant’s Age

  HDFC Bank Business Loan Eligibility gets affected by the applicant’s age. You need to be in the age group from 21 to 65 years for HDFC Bank Business Loan Eligibility. If go for HDFC Bank Business Loan apply online at a younger age, then your HDFC Bank Business Loan Eligibility will be high and the interest rate will also be low. But HDFC Bank Business Loan Eligibility will be low for the older applicant.

• Business Stability

  For a higher HDFC Bank Business Loan Eligibility, you must have a stable business with a minimum experience of 36 months. Also, the profit of your business must be marginal or more for a higher HDFC Bank Business Loan Eligibility. Otherwise, you need to provide a collateral to the bank for loan approval.

• CIBIL Score

  HDFC Bank Business Loan Eligibility is highly affected by the CIBIL score. If you have a high credit score, your HDFC Bank Business Loan Eligibility will be high and if the CIBIL score is low, your HDFC Bank Business Loan Eligibility will be low. A disciplined repayment will lead to high credit score and high Business Loan Eligibility in HDFC Bank.

• Geographic Location

  The geographical location of your stay affects a lot on your HDFC Bank Business Loan Eligibility. If you reside in a metropolitan city, your HDFC Bank Business Loan Eligibility will be higher. But if you reside in a rural area, then your HDFC Bank Business Loan Eligibility will be low. There are some areas which are red marked by the banks. So if you stay in those places then your HDFC Bank Business Loan Eligibility will be lower.

• Existing Debt

  If you have any existing liability of credit card bill or EMI payment of loans, then your HDFC Bank Business Loan Eligibility will be low as your repaying capacity is reduced because of your existing liability. So, for higher HDFC Bank Business Loan Eligibility criteria, you need to clear all your debts before you opt for HDFC Bank Business Loan apply.

• Housing Situation

  If you reside in your own house, then your HDFC Bank Business Loan Eligibility will be high. But if you stay in a rented house, your repaying capacity gets reduced and your HDFC Bank Business Loan Eligibility will be low.

• ITR

  Your ITR file highly affects your HDFC Bank Business Loan Eligibility. For a higher business loan eligibility in HDFC Bank, you must produce ITR copy for at least 1 year and updated bank statement of minimum of 6 months.

HDFC Bank Business Loan Eligibility Criteria