HDFC Banks provides Business loans of up to Rs. 50 Lakhs to meet the requirement of any business-related funding requirements without any collateral, guarantor, or security
HDFC Business Loan is offered at 11.90% per annum to 21.35% per annum interest rates with a repayment tenure ranging from 1 Year to 4 Years, and a processing fee of up to 2.50% on the loan amount is charged by the bank.
Setting up a new business is mainly dependent on loans for almost all of their business requirements. Are you the one of them who wants to increase their business but facing financial issues? So, don’t worry here HDFC bank have the best option for you i.e. HDFC Business loan. In this loan you can get a loan up to Rs. 40-50 lakhs without any collateral, guarantor, or security, to fulfill your every business need, from business expansion and working capital.
|
Particulars |
Details |
|
Interest Rate |
11.90% per annum to 21.35% per annum |
|
Loan Amount |
Up to Rs. 50 Lakhs |
|
Loan Tenure |
Up To 48 Months |
|
Processing Fee |
Up to 2.50% of Loan Amount |
|
Collateral |
Not Required |
Flexible Tenure : The repayment tenure of HDFC Bank Business Loan is flexible ranging from 1 Year to 4 Years.
Less Documentation : HDFC Bank Business Loan requires very little documentation, thus making the application process easy and a quick one.
Loan Amount : HDFC Bank provides Business loans up to Rs. 50 Lakhs.
No requirement of collateral or guarantor : HDFC Bank Business Loan is an unsecured loan so you do not need to submit any collateral. or guarantor.
The following are the key fees and charges other than interest charges applicable to a Business loan from HDFC Bank:
|
TYPE |
CHARGES |
|
Processing Fee |
Up to 2.50% of the loan amount |
|
Prepayment fee |
|
|
Loan closure letter |
NIL |
|
Repayment time |
12-48 months |
|
Loan amount |
Min Rs 50, 000 to Max. Rs 40 lakh ( Rs 50 lakh in selected locations ) |
|
Loan cancellation charges |
NIL |
|
A duplicate loan closure letter |
NIL |
|
Overdue EMI interest |
2% p.m. on EMI |
|
Cheque swapping charge |
Rs 500 |
|
Cheque bounce charge |
Rs 550 per Cheque bounce |
Compare other banks interest rate:
|
BANKS |
INTEREST RATE |
|
15.65% to 21.20% |
|
|
16.25% to 19.99% |
|
|
12% to 16% |
|
|
10.65% to 16.25% |
|
|
8.30% |
In order to avail of HDFC Bank Business loan, an individual has to meet certain eligibility criteria put up by the bank.
|
CRITERIA |
DETAILS |
|
Minimum Age |
21 Years |
|
Maximum Age |
65 Years |
|
Business Annual Turnover |
Rs.40 Lakhs or above |
|
ITR |
Minimum Rs. 1.5 Lakhs per month |
|
Entities that can avail of business loan |
Individuals, MSMEs, Business owners, Entrepreneurs, Self-employed professionals, Sole Proprietorship, Private and Public Ltd. Companies, Partnership Firms, and Limited Liability Partnerships engaged in only Manufacturing, Trading, or Services sectors. |
In order to avail of the HDFC Bank Business loan, an individual has to provide certain documents required by the bank.
| ID Proof |
|
| Address Proof |
|
| Income Proof |
|
A Business loan calculator helps you to know the amount of EMIs that you need to pay towards your Business Loan.
As a Business loan can go from 20 - 30 years, so you have to be aware of your monthly installments in advance. For that, you can use the EMI Calculator provided by BankSathi to calculate your monthly EMIs on your Business Loan.
The formula for the same is:
[P x R x (1+R)^N]/[(1+R)^N-1], where
FAQs On HDFC Business Loan
The Maximum Business loan amount of HDFC Bank Business Loan is Rs. 50 Lakhs.
The maximum tenure approved for repayment by HDFC Bank for a Business loan is up to 4 Years.
HDFC Bank Business loan charges processing fees are up to 2.50% of the loan amount.
The age required for salaried employees is 21 years to 65 years.
The interest rate charged by HDFC Bank business loan is 15.65% to 21.20% p.a.
Last Updated on : 14/Apr/2021HDFC bank business loan in jaipur
Know More About
You're eligible for a Hdfc Bank Business Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Business Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Hdfc Bank Business Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 15.65% - 21.2% |
| Processing Fees | Upto 2.50% of loan amount |
| Loan Tenure | 1 year to 4 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Business Loans EMI Calculator