HDFC Bank Business Loan | Interest Rates | Documents | Apply

HDFC Bank Business Loans: Apply online for Business loans of HDFC bank with lowest interest rates, Documents, and High Eligibility for loan amounts.

HDFC Bank’s Business Loan is designed to meet the varying business needs for self employed businessmen involved in manufacturing, trading and the service industry.

Apply Business Loan

Loan Amount

Business Loan Features
Rack Interest Rate Range 17.50% to 22.00%
Loan Processing Charges Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/-
Prepayment No pre-payment permitted until repayment of 6 EMIs
Pre-payment charges 4% of the Principal Outstanding after repayment of 6 EMIs
No Due Certificate / No Objection Certificate (NOC) NIL
Duplicate no due certificate / NOC Rs 250/-

Features

  • Unsecured Loan to self employed businessmen involved in Manufacturing, Trading and Service Industry.
  • Loan Amount up to Rs.15 Lakhs. (Up to Rs 30 Lakhs in selected locations).
  • Flexible repayment options ranging from 12 – 36 Months.
  • Hassle free processing.
  • Speedy loan approval.
  • Convenience of Service at your doorstep.

Benefits

  • The funds can be used for business expansion, working capital, child’s education or home renovation.
  • No collateral/ Guarantor/ Security required.

Benefits for Existing Customers:

  • If you are an HDFC Bank Current or Savings Account holder, we have a special offer for you.
  • If you are an existing Auto Loan or Home Loan customer with a clear repayment of 6 months or more from any of our approved financiers or us, you can get a hassle free business loan (without income documentation).
  • If you have a Fixed Deposit with us you can get hassle free loan up to 90% of FD value.
  • You can also apply for enhancement of your existing loan.
  • Credit Protect:
    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.Benefits to HDFC Bank Customers:

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

* Premium will be charged for Credit Protect will be deducted from the loan amount at the time of disbursal. A transaction fee of Rs.750 will also be deducted at the time of disbursal. Additionally, Service tax @10% and Education cess of 3% will be charged on Premium.

(* terms and conditions of the Insurers shall apply, Above product is offered by HDFC Life Ins Co.ltd)

Eligibility Criteria:

Self Employed (Private Ltd. Co. and Partnership Firms) include Private Companies and Partnership firms in the Business of Manufacturing, Trading or Services.

Eligibility Criteria:

  • 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.

Documents required:

  • PAN Card
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
  • Bank Statement (latest 6 months bank)
  • Last 2 Years ITRs (computation of income) Balance Sheet and Profit & Loss a/c. Audited or Certified by a CA
  • Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)
  • Sole Proprietor Declaration or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association & Board resolution (Original)

Self Employed (Individuals). include – Sole proprietors, Partners & Directors

Eligibility Criteria

  • Minimum age of Applicant: 21 years
  • Maximum age of Applicant at loan maturity: 65 years
  • Years in business: Minimum of 3 years in current business and 5 years total business experience
  • Minimum Annual Income (ITR): Rs. 1.5 Lakhs p.a.

Documents required:

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
  • Address Proof (Ration card Tel/elect. Bill/ Lease agreement/ Passport/ Trade license /Sales Tax certificate)
  • Bank Statement (latest 6 months)
  • Latest ITR along with computation of income, Balance Sheet & Profit & Loss a/c for the last 2 yrs. Audited or Certified by a CA
  • 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)

 

One thought on “HDFC Bank Business Loan | Interest Rates | Documents | Apply

  • February 28, 2017 at 11:06 pm
    Permalink

    Personal loan

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *