Business Loan from HDFC Bank

Why take a Business Loan from HDFC Bank?

Whatever be your need we have a loan for you. Over the years we have won the trust of our customers and have become market leader in loan products. 

Enjoy triple benefits when you take a Loan from HDFC Bank:

  • Faster loan - Our loan sanction and disbursal is one of the quickest with easy documentation and doorstep service.
  • Competitive pricing – Our loan rates and charges are very attractive
  • Transparency – All charges are communicated up front in writing along with the loan quotation

Features and Benefits of Business Loan from HDFC Bank

  • In - Principle loan eligibility in 1 Minute online and across all branches
  • Convenience of contacting us through SMS, Webchat, Click2Talk, PhoneBanking and across all Branches
  • Business Loan is also available on the basis of repayment of home loans, auto loans and credit cards.
  • Loan Amount up to Rs. 15 Lakhs (Up to Rs. 40 Lakhs in selected locations).
  • Flexible repayment options ranging from 12 - 36 Months.
  • Credit Protect Insurance Plan: 
  • We help you take care of your loved ones with a Credit Protect Plan to cover your loan at a nominal premium.*
  • In case of Natural / Accidental Death of the customer, the customer / nominee can avail of the Payment Protection Insurance (Credit Protect) which insures the principle outstanding on the loan up to a maximum of the loan amount.

We will charge a premium for this product, and the premium amount will be deducted from the loan amount at the time of disbursal. We will also charge service tax and applicable surcharge/cess at the rates notified by the government. 

Secure your business loan with Credit Protect.

Key benefits of policy

  • Protects the family by paying off the loan amount in case of death of the customer
  • Life Coverage – provides peace of Mind
  • No need to use other savings to repay the loan
  • Tax Benefits as per applicable laws
  • One convenient package - loan + insurance

* Premium will be charged for Credit Protect will be deducted from the loan amount at the time of disbursal. 

Eligibility Criteria & Documentation for Business Loan from HDFC Bank

Get details on eligibility criteria & documents required for HDFC Bank Business Loan

Self Employed including Individual Proprietors, Private Ltd. Co. and Partnership Firms involved inthe Business of Manufacturing, Trading or Services.

With:

  • Minimum Turnover of Rs. 40 Lakhs.
  • Years in business: Minimum of 3 years in current business and 5 years total business experience
  • Business must be profit making for the last 2 years
  • Minimum Annual Income (ITR): Rs. 1.5 Lakhs p.a.
  • Age of Applicant: Min 21 years & Max. 65 years at the time of loan maturity.

Documents you will need to submit:

  • PAN Card – For Company /Firm/ individual.
  • Proof of your identity: Copy of Aadhaar Card/Passport/Voter's ID card/Pan Card/Driving License.
  • Proof of your address: Copy of Aadhaar Card/Passport/ Voter ID-Card/Driving License.
  • Bank Statement (latest 6 months)
  • Latest ITR along with computation of income, Balance sheet and Profit & Loss a/c for the last 2 years. Financial should be CA Certified /Audited.
  • Proof of continuation (ITR/Trade license /Establishment /Sales Tax certificate)
  • Other Mandatory Documents (Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)

Loan at the sole discretion of HDFC Bank Ltd.

Business Loan Interest Rates & Charges

Enclosed below are HDFC Bank Business Loan Interest Rates & Charges

Fee
Charges

Rack Interest Rate Range
17.00% to 22.00%

Loan Processing Charges
Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 75000/-

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 on amount outstanding from date of default

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

Non standard repayment charges
Not applicable

Cheque swapping charges
Rs 500/-

Amortization Schedule charges
Rs 200/-

Loan cancellation charges
NIL (However Inerest would be charged for the interim period between date of loan disbursementand date of loan cancellation and processing fees would be retained)

Cheque Bounce Charges
Rs 550/- per cheque bounce

Legal / incidental charges
At actual

CIBIL Report Copy Charges
Rs.50 Per Copy

Rates offered to customer during the period of Jan’15 to March’15.

IRR
Q IV (2014-15)

Min IRR
12.60%

Max IRR
22.77%

Avg IRR
17.18%

Annual Percentage Rate offered to customer during the period of Jan’15 to March’15.

APR
Q IV (2014-15)

Min APR
12.85%

Max APR
24.51%

*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges

Loan at the sole discretion of HDFC Bank Ltd.

Have questions?

  • What are the benefits of having a Current/Saving Account for my Business loan?
  • You get preferred Processing Fee, priority processing and simpler documentation if you have a Current/Saving Account with HDFC Bank. This is taken into account at the time of disbursal of the loan. You can pay through Standing Instructions to debit your HDFC Bank Account with the EMI amount.
  • How much loan can I avail of Business Loan?
  • You can avail of a loan from Rs 50,000/- to Rs 40,00,000/- depending on your income, repayment capacity and respective location product cap.
  • How do I repay my Business Loan?
  • You pay the loan in equated monthly installments. The loan will be paid through post-dated cheques or through Standing Instructions to debit your HDFC Bank account with the EMI amount. Calculate how much you will repay each month
  • What security do I need to provide to obtain a Business loan?
  • To obtain the loan, there is absolutely no need to provide any security or collateral.
  • What are the loan tenure options for Business Loan?
  • You can repay your loan over a period of 12 to 36 months

 

 

 

About

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of RBI’s liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

HDFC Bank’s mission is to be a World Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank’s risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank’s business philosophy is based on five core values: Operational Excellence, Customer Focus, Product Leadership, People and Sustainability.

 

Get totally unsecured loan of 20 times of your net profit with the help of our team of Chartered Accountants.

Only requirement: 3 years ITR and turnover of 1 cr+. No collateral required.

Repayment Period: 1-5 years

Interested? Call us at +91-9911050333 or fill the form on the right

 

What is Business Loan?

Business loans, as the name suggests, are specifically intended for business purposes. Be it a startup or an established business, business loans offer a financial solution to problems faced by the firm and fills the cash flow gap. Be it for meeting day-to-day expenses, expansion of infrastructure or even product development, business loans play a huge role in setting the financial foundation strong for a business.

Characteristic of Business Loan

  • Businesses with bad credit can also apply but will have to provide proof that repayments can be done without delay.
  • Application fees are either non-applicable or minimal
  • The payment schedules are extendable with a nominal extra interest rate being applied
  • Extended lines of credit made available

Eligibility Criteria for Business Loan

  • Minimum 25 years of age and maximum 65
  • The business should have been in profit for atleast 3 years
  • A minimum turnover of 40 Lakhs for proprietorship, partnership firm and Pvt Ltd companies.
  • Income Tax return should be a minimum of 3 Lakhs
  • Net worth should be positive.
Who all can avail business loans?
  • Self Employed Individuals/Professionals
  • Sole Proprietorship Firms
  • Partnership Firms
  • Private Limited Companies

What documents are needed when applying for a business loan?

  • Identity Proof
  • Address Proof
  • Bank Statement for past 6 months
  • 3 years Income Tax Return with Balance Sheet, P&L and Audit Report

What are the tenure options available?

A minimum of 1 year to a maximum of 5 years.

Can I make part-prepayment?

Yes. Part pre-payment can be done with a minimum amount of Rs.50,000/- after 6 months from the date of disbursement of the loan. This can be made only once in a financial year.

Can I pre-pay my whole loan?

Yes. That is also possible, but after repaying a minimum of 6 EMIs. Pre-payment of loans will be charged as per the bank’s discretion.

How can I repay the loan?

The loan can be repaid through post-dated cheques or Electronic Clearing System.

Interested? Please leave your details and we will contact you soon