We focus on your tomorrow.
We focus on your tomorrow.

HDFC BANK
Business Loan

Get business loan up to Rs. 50 Lakhs from HDFC Bank at competitive interest rate starting from 11.90% p.a. Self-employed applicants can get a loan up to Rs. 75 Lakhs. The loan can be repaid in a flexible tenure of 12 to 48 months. A processing fee of up to 2.50% of the sanctioned limit has to be paid to avail the loan.

 
HDFC Bank Business Loan Details
Loan amountUp to Rs. 40 lakhs (Rs. 50 lakhs in select locations) 
Tenure12 – 48 months
Rate of interest11.90% – 21.35% p.a.
Processing feeUpto 2.50% of the loan amount, minimum Rs. 1,000 & maximum Rs. 25,000 for salaried customers, and Rs. 75,000 for self employed customers.
Prepayment charges2% – 4% of principal outstanding
Minimum business turnover Rs. 40 Lakhs
Age21 – 65 years
Table of Contents: HDFC Bank Business Loan
HDFC Bank Business Loan Features

Here’s what makes HDFC Bank Business Loan different:

  • Collateral-free: HDFC Bank Business Loans do not involve any collateral, security and guarantor, thus bringing you peace of mind.
  • Business loan balance transfer: Business loan balance transfer lets you transfer existing debts into a single consolidated business loan which is paid back at easy monthly.
  • Competitive interest rates: Low interest rates, starting at 11.90% p.a.
  • Low processing fees: Processing fee up to 2.50% of the sanctioned loan amount.
  • Flexible loan amount: Get a loan of up to Rs. 40 Lakhs (and  50 Lakhs in select locations) without any collateral, guarantor, or security.
  • Dropline overdraft facility: Get dropline overdraft facility up to Rs. 5 Lakhs to Rs. 15 Lakhs Pay back your interest only on the utilised amount.

Additional Info: Also, check PSB Loans in 59 Minutes is a quick business loan portal for start ups.

Why Apply for HDFC Bank Business Loan?
  • Business loan for all purposes: HDFC Business Loan lets you meet all your business-related financial requirements, including buying land, moving into a new office space, purchasing equipment, getting a capital boost for future growth, and so on. 
  • Option of prepayment: You have the option of prepaying your business loan after 6 months at prepayment charges of 2% to 4%.
  • Quick eligibility check and loan disbursal:Your loan eligibility is checked in less than 60 seconds,and loan disbursal procedures are quick, giving you the required funds instantly.
  • Flexible repayment tenure: Pay back your loan within a flexible tenure of 12 to 48 months.
  • Many branches:There are over 4,972 branches of HDFC Bank in India where you can apply for a Business Loan directly.
  • Credit protect option: HDFC don’t just give you a Business Loan, but also provide credit insurance. The Credit Protect Scheme deducts the insurance charges from your loan amount and provides loan repayment protection cover so that your family doesn’t have to worry about the payment of outstanding loan amount in the event of accidental or natural death. This credit protection comes with tax benefits.

Additional Reading: What is commercial cibil score?

HDFC Bank Business Loan Interest Rates
  • HDFC Bank offers Business Loans at lucrative fixed interest rates of 11.90% to 21.35%, based on the eligibility of the borrower. For business loan balance transfer cases, interest rate starts from as low as 15.75% p.a.

    Additional Reading: How to check cibil defaulters list?

HDFC Bank Business Loan EMI Calculation
  • The HDFC Bank Business Loan EMI amount can be computed using the fastmudra EMI Calculator. The Business Loan EMI Calculator lets you set parameters such as the loan amount, tenure, and interest rate to know what your monthly EMI amount comes to. To calculate your EMI for HDFC Bank Business Loan, follow the steps below:

    • Visit fastmudra.
    • Click on the ‘EMI Calculator’ tab given under ‘Financial Tools’ section.
    • Enter the required loan amount, interested rate, and tenure of the loan (in years or in months).
    • Hit the ‘Enter’ button.

    You will get the EMI amount, Total Payable Interest and total loan payment (Principal + Interest).

    This calculator provides the loan amortisation schedule as well. It gives you the year-wise breakup of your loan repayments. 

    Here is an example of EMI calculation using fastmudra EMI Calculator:

    Loan amount required: Rs. 40 Lakhs

    Applicable rate of interest: 11.90% p.a.

    Repayment tenure: 4 years

    EMI to be paid by you each month: Rs. 1,05,139

    Total interest to be paid: Rs. 10,46,675

    Total amount to be paid by you to the lender: Rs. 50,46,675

    Our EMI Calculator also provides the following amortization schedule:

    YearOpening Balance

    Amount Paid by

    customer(EMI*12)

    Interest paid during

    the year

    Principal paid during

    the year

    Closing Balance
    1Rs. 40,00,000Rs. 1,05,139Rs. 39,667Rs. 65,472Rs. 39,34,528
    2Rs. 39,34,528Rs. 12,61,669Rs. 4,23,469Rs. 8,38,199Rs. 30,96,328
    3Rs. 30,96,328Rs. 12,61,669Rs. 3,18,099Rs. 9,43,569Rs. 21,52,759
    4Rs. 21,52,759Rs. 12,61,669Rs. 1,99,483Rs. 10,62,185Rs. 10,90,573
    5Rs. 10,90,573Rs. 11,56,530Rs. 65,956Rs. 10,90,573Rs. 0

    Additional Info: Know How to open HDFC PPF Account online.

HDFC Bank Business Eligibility

To avail HDFC Bank Business Loan, applicant should meet following eligibility criteria:

  • Any proprietor, self-employed individual, partnership firm, or private limited company involved in trading, manufacturing or services can apply for HDFC Business Loan.
  • The applicant must be 21 years old at the time of borrowing and maximum 65 years old at the time of maturity of the loan.
  • Minimum business turnover must be Rs. 40 Lakhs.
  • The applicant must be associated with the current business for the past 3 years.
  • The total business experience of the individual must be minimum 5 years.
  • The business should be in a profitable state for the last 2 years.
  • The annual income (ITR) of the business must be minimum Rs. 1.5 Lakhs.

Additional Reading: Credit rating agencies in India

Documents Required HDFC Business Loan
  • The following documents are required when the applicant applies for an HDFC business loan online:
  • PAN Card: For individual/firm/company
  • Identity Proof (any of the following):
  • Aadhaar Card
  • Driving Licence
  • Passport
  • PAN Card
  • Voter’s ID Card
  • Address Proof (any of the following)
  • Aadhaar Card
  • Driving Licence
  • Passport
  • Voter’s ID Card
  • Bank Statement of last 6 months
  • Recently filed ITR with computation of income – certified/audited by CA
  • Balance Sheet for the previous 2 years – certified/audited by CA
  • Last 2 years Profit & Loss Statement – certified/audited by CA
  • Other documents
  • Certified copy of Partnership Deed or Sole Proprietorship Declaration,
  • Certified copy of M&AA (Memorandum and Articles of Association) – duly certified by Director
  • Original Board Resolution
HDFC Business Loan Charges
  • DFC Bank business loan comes with following charges:
  • Processing fee: Up to 2.50% of the sanctioned loan amount, minimum Rs. 1,000 and maximum Rs. 25,000 for salaried customers and Rs. 75,000 for self-employed customers.
  • Prepayment charges: Prepayment is allowed only after repaying 6 EMIs. Prepayment charges are as follows:
  • 4% of principal outstanding – if prepayment is done between 6-24 months.
  • 3% of Principal Outstanding – if prepayment is done between 25-36 months.
  • 2% of Principal Outstanding – if prepayment is done after 36 months.
  • Overdue EMI interest: 2% per month.
  • Stamp duty & other statutory charges: As applicable by the State.
  • Cheque swapping fee: Rs. 500
  • Amortization schedule charge: Rs. 200
  • Cheque bounce penalty: Up to Rs. 550 for per bounced cheque. 10% discount for senior citizens.
  • Taxes: Government taxes & other levies as applicable will be charged over & above the fees and charges mentioned above.
  • Additional Reading: What is cibil dispute?
How to Apply for HDFC Business Loan at fastmudra?

A business owner can apply for SBI Business Loan in any of the ways suitable for them.  There are no hassles involved, whatsoever. You can primarily opt for any of the following methods:

Online Application: If you are looking for quick processing of your SBI business loan, apply online by filling the online application form on their website. Their business loan representative will contact you and assist you with the documentation and further procedure.

You can also apply for the loan online on fastmudra

Call Customer Care: You can request a call back by contacting the SBI customer care on their toll-free number.

Visit the Branch: Alternatively, you can visit the nearest SBI branch and submit the application physically. However, in this digital age, more and more customers are opting for the online route.

Additional Reading: What is Equifax credit score?

HDFC Bank Business Loan Customer Care

You can contact HDFC Bank Customer Care regarding any loan related query at the following Toll-Free number:

1800 266 4332

You can reach them at their following address:

82, Cyrus Avenue, Khatija Mansion, Dr AnandRao Nair Rd,

Mumbai Central,

Mumbai-400008.

HDFC Bank’s virtual assistant ‘EVA’ answers customer question through voice and chat-based channels. In addition to automated customer care and answering FAQs, HDFC Bank’s customer care department is available round-the-clock through the toll-free number, email, Click2Talk, and Onchat messenger service.

Additional Info: HDFC Home Loan Customer Care Number

View and improve your credit score - for free.

SBI

Trending Business

Fullerton India

Business Loan

Annual Fee: ₹ 9,99,999.00

Joining Fee: ₹ 2,485.00

Tata Capital

Business Loan

Annual Fee: ₹ 5,00,000.00

Joining Fee: ₹ 3,666.00

Lendingkart

Business Loan

Annual Fee: ₹ 50,000.00

Joining Fee: ₹ 3,615.00

Faircent

Business Loan

Annual Fee: ₹75,000.00

Joining Fee: ₹ 3,615.00

Previous
Next

Financial tools

error: Content is protected !!