HDFC Business Loan

HDFC Business Loan

One of the leading commercial bank in India, HDFC Bank offers a wide range of short term, medium term and long term loans. HDFC Bank provides flexibility to businesses to avail a loan for various business purposes. Bank provides support to organizations to run their businesses effectively. If you are lacking funds for your business operations you can easily apply for HDFC bank business loan.
HDFC offers business loan with lowest interest rates and provides high eligibility for loan amounts. It helps in meeting the financial business needs for self-employed businessmen involved in manufacturing, trading and the service industry.

Why Business Loan from HDFC?
Apply for a business loan to meet your financial requirements related to your business. At the time when you are planning to set up a new venture or planning to organize your business operations, getting funds is often a big hurdle. But there comes HDFC Bank from where you can lend money for your business ventures.

HDFC Bank offers flexible payback with tenures of 12 to 48 months. You can foreclose your Business Loan after 6 months at foreclosure charges of 2% to 4%.

  • 1. Zero security involved at competitive interest rates
  • 2. Flexibility and easy to process approach
  • 3. Up to 40 Lakh loan payment
  • 4. Low processing fee
  • 5. Quick and hassle free process

Fees and Charges

The mentioned below are the fees and charges applicable that are levied by HDFC Bank are as follow:

Type Of FeesCharges Applicable
Interest Rate15.65% to 19.70%
Loan Processing ChargesUp to 2.50% of the loan amount
PrepaymentNo pre-payment permitted until repayment of 6 EMIs
RepaymentUp to 36 Months
Charges for late payment of EMI@ 24% p.a.
Maximum Loan amountUp to 40 Lakh loan payment
Cheque Swapping Charges Rs. 500
Amortization Schedule Charges Rs. 200
Cheque Bounce Charges Rs. 550 per bounced cheque
Legal/Incidental Charges At Actual
Stamp Duty As per applicable state laws
Advantages of HDFC Business Loan

HDFC Bank offers numerous advantages and offers which allure customers to choose them for availing Business Loan.

  • 1. Interest rates, charges and loan amount provided for HDFC bank A/c holders are the best in class.
  • 2. No collateral or guarantor or security is required by the lender.
  • 3. Business loan can be availed for business expansion, working capital, new venture, start-up.
  • 4. Offers Unsecured Loan to self-employed businessmen involved in Manufacturing, Trading and Service Industry.
  • 5. Quick and speedy loan approval process
  • 6. You can check your business loan eligibility within a fraction of seconds.
  • 7. Offers higher loan rate for self-employed customer.
Eligibility Criteria for applying for HDFC Business loan

Your application for loan can be approved only once you meet the eligibility criteria. Below mentioned are the prerequisites you need to meet for availing the business loan:

1. For Private Ltd. Co. and Partnership Firms below eligibility needs to be fulfilled :

Eligibility FactorEligibility Criteria
Age of the applicantMin 21 and Max 65 years
Business OperationMinimum of 3 years in current business and 5 years total business experience
Business TurnoverMin. Rs. 40 lakhs
Minimum Annual Income (ITR)Min. Rs. 1.5 Lakhs per annum

2. For Self-employed individuals below eligibility needs to be fulfilled :

Eligibility FactorEligibility Criteria
Age of the applicantMin 21 and Max 65 years
Business OperationMinimum of 3 years in current business and 5 years total business experience
Business TurnoverMin. Rs. 40 lakhs
Minimum Annual Income (ITR)Min. Rs. 1.5 Lakhs per annum

Documents required for applying for a Business Loan from HDFC

Before applying for a business loan online check out the essential documents required:

Self EmployedPartnership FirmPrivate Ltd. Co.
Application form duly filled with photographs Application form duly filled with photographsApplication form duly filled with photographs of directors.
Proof of Business - Shop and Establishment Certificate/ Vat Registration Certificate/ Service Tax CertificateProof of Business - Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate.Proof of Business - Shop and Establishment Certificate/Vat Registration Certificate/ Service Tax Certificate.
ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements.ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements. ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements.
Last 3 years IT tax returns with profit and loss account and balance sheet duly audited by CA.Latest 3 years Income Tax returns with profit and loss and balance sheet duly audited by CA.Last 3 years IT returns with Profit and Loss account and balance sheet duly audited by CA.
Existing Loans’ Sanction letters accompanied with repayment track. Existing Loans' Sanction letters accompanied with repayment track.Existing Loans’ sanction letter with repayment track of company and Individual Directors.
Business profile on the letterhead of the company.Business profile on the letterhead of the company.Business profile on the letterhead of the company.
Cheque of Processing Fee.

Cheque of Processing Fee.Cheque of Processing Fee.
Age proof of all the partners in the form of PAN Card, Passport or Aadhar Card. Age Proof of Directors - PAN Card, Aadhar Card, and passport.
PAN Card of Company.PAN Card of Company.
Residence proof of all the partners – Utility Bills/ Passport/Bank statement/ Registered rent agreement.Residence Proof of Directors - Utility Bills/ Passport/Bank statement/ Registered rent agreement.
Latest 12 months bank statement of the Company and of the Partners’ Savings Bank Account.Latest 12 months bank statement of Company of all current accounts and the same for Director’s Savings Bank Account.
MOA, AOA, List Of Directors, Share Holding Pattern of the Company.

Procedure for applying for HDFC Bank Business Loan Online

One can apply online for business loan through our website with few simple steps by registering online:

  •    Enter the required details including your employment type, name, e-mail address, city you are currently living in, type of business, annual income, required loan amount, and mobile number.
  •    Provide your consent.
  •    Choose HDFC Bank as your Business Loan partner.
  •     Fill in the form by providing some basic details like your gender, marital status, PAN Number, and others and click proceed.

For further queries you can go through www.hdfcbank.com

Know more about HDFC Business Loans – FAQs

Q. How much loan amount can I avail?

A. Loan amount varies from INR 50,000 to INR 4,000,000 which can be availed depending on your income.

Q. Don I need to pay any security to avail the business loan?

A. There is no need for collateral or security for availing a business loan.

Q. Is there any benefit to existing HDFC bank customers?

A. Interest rates, charges and loan amount provided for HDFC bank A/c holders are the best in class.

Q. What are the interest rates for availing a Business Loan?

A. Low interest rates, starting at 15.75% p.a.

Q. What is the repayment tenure?

A. Pay back your loan within a flexible tenure of 12 to 48 months.

Q. How can I repay my business loan?

A. It should be repaid through EMIs- Equated Monthly Installments; it can either be through standing instructions and post-dated cheque.