HDFC Bank Business Loan: Interest Rate, Eligibility, Processing Fee & Customer Care

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HDFC Bank Business Loan

Are you one of them who wants to increase their business but facing financial issues? So, don’t worry here HDFC bank has 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 to your child's education or a home renovation.

Features of HDFC Bank Business Loan

  • Easy loan amount transfer: Transfer your existing Business Growth Loan to HDFC Bank for lower EMIs, and enjoy our benefits.

    • Interest rates as low as 15.75%* on the existing loan transfer

    • Processing fee as low as 0.99%

  • Facility of Dropline overdraft: Pay the interest only on the amount utilized

    • Dropline Overdraft Facility up to Rs.5 Lac - 15 Lac*

    • No Guarantor or Security required.

    • Tenure ranging from 12-48 months.

    • Attractive Rate of Interest

    • No Foreclosure/part Closure shall be permitted during the first 6 months of the limit setting.

  • Credit Protect: Take care of your loved ones by paying a nominal premium and covering your loan with our Credit Protect

    • In case of death of the customer protects the family by paying off the loan amount

    • 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

    • In case of Natural/Accidental Death of the customer, the customer/nominee can get the Credit Protect, which insures the principle outstanding on the loan up to a maximum of the loan amount.

Business Loan-related other banks Product - 

Banks interest Rate
HDFC Bank Business Loan                                     15.65%                       
Yes Bank Business Loan 16.25%
RBL Bank Business Loan 16.25%
CITI Bank Business Loan 12% to 18% 
India Bank Business Loan 8.30%

HDFC Bank Business Loan interest rate, Fee and Charges

  • HDFC Bank Business Loan Interest rate

Interest rate

15.65%

Processing charge

Upto 2.50% of loan amount

Repayment time

12-48 months

Loan amount

Min Rs50, 000 to Max. Rs 50 lakh

 

  • HDFC Bank Business loan Fee and Charges

FEE

Charges

Interest rate range

Min 11.90% and Max. 21.35%

Pre-payment fee

07-24 Months - 4% of Principal Outstanding

25-36 Months - 3% of Principal Outstanding

>36 Months - 2% of Principal Outstanding

Loan closer letter

Nil

Duplicate loan closer letter

Nil

Overdue EMI interest

2% p.m. on EMI

Cheque swapping charge

Rs 500

Cheque bounce charge

Rs 500/- per Cheque bounce

 

HDFC Bank Business Growth loan eligibility criteria

  • Following people eligible for HDFC Bank Business Growth loan

    • Self-employed individuals

    • Proprietors

    • Private Ltd. Co.

    • Partnership Firms

  • The business should have a at least turnover of Rs. 40 lakhs

  • With 5 years of total business experience Individuals who have been in the current business for a minimum of 3 years.

  • Those whose business has been good track record for the previous 2 years

  • The business should have a ITR of Rs. 1.5 lakhs per annum

  • At the time of applying for the loan the borrower should be at least 21 years, and should be no older than 65 years at the time of loan maturity

Required Documents for HDFC Bank Business loan

TYPE

Id Proof

Address proof

Income proof

Salaried

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card

Last 6 month bank statement, salary slip last 3 month

Self-employed

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card

Last 6 month bank statement, Form 16, Latest ITR along with Balance Sheet

Partnership Firms/private limited companies

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card telephone bill

Last 3 month bank statement, latest ITR, Registered Lease Document with other utility bills,

Sales Tax or VAT Certificate,

Shop & Establishment Act Certificate

 

How to apply for HDFC Bank Business Growth Loan

  • Applicant first visit to HDFC Bank website

  • After that click on “personal”

  • In personal menu now click on “Borrow”

  • After that go to popular loan and click at Business Growth Loan

  • Fill the application form and submit it with attaching all mandatory documents

  • Bank associate will let you know in a few minutes that you are eligible or not for the loan

  • After getting approval visit to HDFC bank branch for further proceedings

Last Updated on : 18/Jun/2020

HDFC bank business loan in jaipur

HDFC bank business loan in jaipur

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Hdfc Bank Business Loan

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

Hdfc Bank Business Loan Interest Rates

Updated on 25 Nov 2017

Hdfc Bank Business Loan Details
Interest Rate (Monthly reducing balance) 15.65% - 21.2%
Processing Fees 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

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

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1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959