HDFC Bank Business Loan
India’s one of the largest private sector bank, HDFC Bank Ltd. offers HDFC Bank Business Loan at a competitive interest rate to fund your business. With the help of HDFC Bank Business Loan, your need for money to expand your business or buy new machinery can be easily met. To fulfill the diverse business needs, the bank offers HDFC Bank Business Growth Loan without taking any security. HDFC Bank Unsecured Business Loan requires very simple paperwork with fast disbursal within 48 hours (may vary). Not only large corporate, but small or medium sized business can use HDFC Bank SME Loan to meet their business needs. When you opt for HDFC Bank Business Loan online apply, you need to fulfill HDFC Bank Business Loan eligibility, HDFC Bank Business Loan documents requirements which are very minimal. With higher CIBIL score of at least 750 or more and higher repaying capacity will help you to obtain HDFC Bank Business Loan interest rate at a lower rate. To cater to the various business needs, HDFC Bank Business Loan offers huge benefits and hassle-free loan approval process.
Why would you choose HDFC Bank Business Loan?
You can avail HDFC Bank Business Loan at the time of your need and the right amount which you require. After you opt for HDFC Bank Business Loan apply, you can check HDFC Bank Business Loan application status online without much hassles. HDFC Bank Business Loan rate of interest is offered at a competitive rate when your HDFC Bank Business Loan eligibility is satisfied. You can repay Business Loan in HDFC through EMIs within flexible loan tenure up to 4 years. Based on HDFC Bank Business Loan details, you can avail a business loan in HDFC up to Rs. 50 lakhs. Following are some of the reasons as to why would you choose HDFC Bank Business Loan-
- To set up a new business venture or to take care of the day to day business needs, HDFC Bank Loan for Business is offered at an attractive interest rate.
- You need to fulfill HDFC Bank Business Loan eligibility which is very minimal, to meet your business needs.
- HDFC Bank Unsecured Business Loan do not take any security and guarantor and disbursed the loan very quickly.
- You can save on your interest payments, if you balance transfer the existing loan to HDFC and repay with lower EMIs.
- HDFC Bank SME Loan offers financial support to small and medium sized enterprise.
- Before you opt for HDFC Bank Business Loan apply, you can use HDFC Bank Business Loan eligibility calculator tool to know your loan eligibility.
- The processing fee for business loan by HDFC Bank is very low at 0.99% with no hidden charges.
- You can avail overdraft facility up to Rs. 15 lakhs with a loan tenure up to 48 months.
- At the time of monthly repayment, your EMI calculations become very easy with the help of HDFC Bank Business Loan EMI calculator.
- Based on your HDFC Bank Business Loan eligibility, the interest rate on your loan amount can be easily evaluated using HDFC Bank Business Loan interest rate calculator.
- To ease your repayment process, HDFC Bank Business Loan repayment schedule ranges from 12 to 48 months.
- You can check your HDFC Bank Business Loan statement online and HDFC Bank Business Loan status when you go for HDFC Bank Business Loan login.
HDFC Bank Business Loan Eligibility Criteria
To apply for HDFC Bank Business Loan and obtain HDFC Bank Business Loan rate of interest at an attractive rate, you need to satisfy HDFC Bank Business Loan eligibility. Following are the HDFC Bank Business Loan eligibility which are very easy to fulfill-
|Business Eligibility||Self-employed Non-Professionals- Sole proprietors, Public & Private ltd. companies, Partnership firms etc.Self-employed Professionals- CA, Doctor, Architect, etc.|
|Business Continuity||Self-employed non-professionals- 3 years in the current business with total experience of 5 years Self-employed professionals- 3 years|
|Loan Amount||Up to Rs. 50 lakhs|
|Minimum Turnover||Rs. 40 lakhs and more|
|CIBIL score||750 or more|
|Minimum ITR||Rs. 1.5 lakhs per annum|
|Loan Tenure||3 years for self-employed non-professionals 5 years for self-employed professionals|
|Business Profit||For last 2 years|
Factors that affects HDFC Bank Business Loan Eligibility
The main factors that affect HDFC Bank Business Loan Eligibility are- your CIBIL score and your repaying capacity.Here are the main factors that affect HDFC Bank Business Loan Eligibility-
When you apply for HDFC Bank Loan for business, your age is an important criteria that affect HDFC Bank Business Loan eligibility. The earlier you apply lower will be your repaying capacity and higher will be HDFC Bank Business Loan eligibility and vice versa. The age limit lies between 21 to 65 years.
Your creditworthiness is reflected in your CIBIL or credit score. HDFC Bank Business Loan eligibility will be high if your CIBIL score is 750 or more. Proper loan repayment and good repaying capacity will increase the CIBIL score and raise HDFC Bank Business Loan eligibility.
Your business must be stable with a track record of minimum 3 years. Also, the business must generate profit for the last 2 years with a minimum turnover of Rs. 40 lakhs or more for HDFC Bank Business Loan eligibility.
Based on HDFC Bank Business Loan eligibility, you can avail loan amount up to Rs. 50 lakhs. You need to apply for that loan amount which best suits your eligibility and requirements.
HDFC Bank Business Loan Document Requirements
- Application form
- Passport size Photograph
- PAN card for Firm/Company/Individual
- ID proof- AADHAAR card, PAN card, Passport
- Latest Bank a/c Statement of the last 6 months
- Address proof- AADHAAR card, Voter ID card, Passport, Driving License
- Business continuation proof- Sales Tax Certificate/Establishment/Trade License/ITR.
- Copy of ITR file and Audited Balance Sheet of the last 2 years.
- Mandatory documents- Partnership Deed/Memorandum and Articles of Association.
HDFC Bank Business Loan Interest Rate & Charges
|Rate of Interest||15.65%*-21.20%*|
|Processing Fees||Up to 2.50% of the loan amount, where the maximum is Rs. 88500 and the minimum is Rs. 2359|
|Cheque Bounce Charges||Rs. 550 per cheque bounce|
|Pre-payment Charges||More than 36 months- 2% of the principal outstanding 25 to 36 months- 3% of the principal outstanding 7 to 24 months- 4% of the principal outstanding|
|Overdue EMI Interest||2% each month on the EMI payment. Principal overdue which is subject to minimum amt. of Rs. 200|
|Amortization Schedule Charges||Rs. 200|
*interest rate value varies from time to time