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HDFC Bank Business Loan

Loanmani- HDFC Bank

HDFC Bank Business Loan is a financial product offered by HDFC Bank to self-employed individuals, proprietors, partnerships, private limited companies and closely-held public limited companies.

The loan amount can be used for a variety of purposes, such as expanding the business, purchasing new equipment, hiring employees, etc.

HDFC Bank provides flexible repayment options, competitive interest rates and quick loan processing. The bank also offers personalized solutions based on the borrower's specific business needs.

10.00 %

Advertised Rate

48 Months

Available Terms

750

Credit Score

2 L - 50 L

Loan Amount

Why Choose HDFC Bank

  1. Quick processing time and disbursal of funds
  2. Competitive interest rates and flexible repayment options
  3. Minimal documentation requirements
  4. Customized loan solutions for different business needs


HDFC Bank Eligibility Criteria

  1. The borrower must be a self-employed individual, a partnership firm, a limited liability partnership (LLP), a private limited company or a closely-held public limited company.
  2. The minimum age of the applicant should be 21 years and maximum age should be 65 years.
  3. The borrower should have a minimum annual turnover of Rs. 40 lakhs for non-professionals and Rs. 15 lakhs for professionals.
  4. The borrower should have a minimum of 3 years of business vintage.
  5. The borrower should have filed income tax returns for at least the past 2 years.


HDFC Bank Fees & Charges

  1. Processing fee: Up to 2.50% of the loan amount.
  2. Prepayment charges: Up to 4% of the outstanding loan amount.
  3. Late payment charges: 2% per month on the overdue amount.


HDFC Bank Features & Benefits

  1. Loan amount: HDFC Bank offers business loans ranging from Rs. 50,000 to Rs. 50 lakhs, subject to eligibility and creditworthiness.
  2. Flexible repayment options: The bank offers flexible repayment options ranging from 12 months to 48 months.
  3. Quick processing: HDFC Bank claims to process business loan applications within 48 hours, subject to documentation and eligibility.
  4. Competitive interest rates: The interest rates offered by HDFC Bank for business loans are competitive and may vary depending on individual circumstances.
  5. Minimal documentation: HDFC Bank requires minimal documentation for processing business loan applications, making the process quicker and more efficient.


HDFC Bank Required Documents

  1. KYC documents of the borrower
  2. Income tax returns for the past 2 years
  3. Bank statements for the past 6 months
  4. Business proof, such as business registration certificate, GST registration, etc.
  5. Proof of business ownership, such as partnership deed, memorandum of association, etc.


FAQs on HDFC Bank Business Loan

1.What is the maximum loan amount that can be availed through HDFC Bank Business Loan?

The maximum loan amount that can be availed through HDFC Bank Business Loan is Rs. 50 lakhs, subject to eligibility and creditworthiness.

2.What is the interest rate charged by HDFC Bank for Business Loan?

The interest rates on business loans offered by HDFC Bank start from 15.75% p.a. and may vary based on the borrower's profile and creditworthiness.

3.What is the loan repayment tenure for HDFC Bank Business Loan? 

The loan repayment tenure for HDFC Bank Business Loan ranges from 12 months to 48 months.

4.What are the minimum eligibility criteria to apply for HDFC Bank Business Loan? The minimum eligibility criteria to apply for HDFC Bank Business Loan are as follows:

  • The borrower must be a self-employed individual, a partnership firm, a limited liability partnership (LLP), a private limited company or a closely-held public limited company.
  • The minimum age of the applicant should be 21 years and maximum age should be 65 years.
  • The borrower should have a minimum annual turnover of Rs. 40 lakhs for non-professionals and Rs. 15 lakhs for professionals.
  • The borrower should have a minimum of 3 years of business vintage.
  • The borrower should have filed income tax returns for at least the past 2 years.

5.What is the processing fee charged by HDFC Bank for Business Loan? 

The processing fee charged by HDFC Bank for Business Loan is up to 2.50% of the loan amount.

6.What are the required documents to apply for HDFC Bank Business Loan? 

The required documents to apply for HDFC Bank Business Loan are as follows:

  • KYC documents of the borrower
  • Income tax returns for the past 2 years
  • Bank statements for the past 6 months
  • Business proof, such as business registration certificate, GST registration, etc.
  • Proof of business ownership, such as partnership deed, memorandum of association, etc.

7.Is it possible to prepay HDFC Bank Business Loan? If yes, what are the charges? Yes, it is possible to prepay HDFC Bank Business Loan. The prepayment charges can be up to 4% of the outstanding loan amount.

8.What is the late payment charge for HDFC Bank Business Loan? 

The late payment charge for HDFC Bank Business Loan is 2% per month on the overdue amount.

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