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.
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.
| 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% |
|
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 |
|
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 |
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 |
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
HDFC bank business loan in jaipur
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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 | 2.50% of loan amount |
| Loan Tenure | 1 year to 4 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
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