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.
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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:
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:
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.