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HDFC Bank Limited Business Loan

Entrepreneurs, small and large firms and established businesses often avail of HDFC’s business loans schemes. Being India’s largest private sector lender, HDFC is proactively involved in lending funds and working capital to a wide range of businesses. This bank emphasizes in the easy availability of business loans for eligible businesses with loan features such as speedy eligibility checks and loan dispersal, loan transfers, low processing fees and low interest rates on maximized loan amounts. The key features of business loans from HDFC Bank are as indicated in the infographic below.

Amount

Rate of Interest

Repayment Tenure

Minimum EMI Per Lakh

Part Prepayment Fees

Foreclosure Fees

50,000 to 50 Lakhs

Starting at 15.65%

12 Months to 4 Years

2816

Not Permissible

Permitted Post Payment of 12 EMIs – 2 to 4%

*It must be noted that interest rates for business loans from HDFC vary on the basis of business type, loan amount, credit score, repayment tenure and other factors.

*Additionally, HDFC Bank has strict criteria for eligibility that takes into consider the profit and loss statements, business account statements, business plan, years of operation and credit score of the borrower.

Bank Link

http://www.hdfcbank.com/personal/products/loans/business-loans/business-loan

Loan Amount

Up to Rs. 15 Lacs (Rs. 30 Lacs in selected locations)

Interest Rate

Starting at 15.65%

Tenure

12 to 48 months

Pre Payment Charges

2% - 4% of Principal Outstanding

Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.

Service Charges

 Loan Processing Charges* : Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 75000/-

Other Charges

 "Pre-payment charges* :

07-24 Months - 4% of Principal Outstanding

25-36 Months - 2% of Principal Outstanding

36 Months - NIL

Charges for late payment of EMI: @ 24 % p.a on amount outstanding from date of default"

Self
Minimum Age (in yrs.)

21-65 Years

Minimum Income (in Rs.)

Minimum Annual Income (ITR): Rs. 1.5 Lakhs p.a.

Minimum Work Experience (yrs.)

Minimum of 3 years in current business and 5 years total business experience

Residence Status (yrs.)

Valid Residence Proof

Id Proof

Passport, driving license, PAN Card, Aadhar Card, Voter's ID card

Address Proof

Electricity Bill, Phone Bill, Passport

DOB Proof

10th class certificate

Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.

Salaried
Minimum Age (in yrs.)

Not applicable

Minimum Income (in Rs.)

Not applicable

Minimum Work Experience (yrs.)

Not applicable

Residence Status (yrs.)

Not applicable

Id Proof

Not applicable

Address Proof

Not applicable

DOB Proof

Not applicable

Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.
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