HDFC Bank Business Loan

HDFC Bank Business Loan provides business loans to assist you start your own business anywhere in India, whether it’s a huge or small enterprise.

Every firm relies on funds to operate. Running day-to-day operations, paying staff, miscellaneous expenses, purchasing equipment and machinery, working with logistics, and servicing clients all require money, and getting funds in the event of an emergency can be challenging.

HDFC Business loans are collateral-free. Its low interest rates and policy transparency place it among India’s top business loan schemes.

HDFC Bank’s Business Loan Interest Rates

The HDFC Bank business loan interest rate begins at 15.50% but fluctuates depending on the individual profile. Banks adjust their interest rates based on RBI rules.

HDFC Bank Business Loan Details

Loan Amount: Min Rs. 50,000 and Max Rs. 50 Lakh
Interest Rate: 15.50% to 18.30%
Loan Tenure: 12 months to 48 months

What are the features and benefits of HDFC Bank’s business loans?

The features and benefits of an HDFC Bank Business Loan are as follows:

Collateral-free: HDFC Bank Business Loans do not require any collateral, security, or guarantors.
Business Loan Balance convert: Business Loan Balance Transfer allows you convert current debts into a single consolidated HDFC bank Business Loan that is paid back at an easy monthly basis.
Interest rates are low, starting at 15.75% per annum.
Low Processing Fees: Processing fees begin at 0.99%.
Up to 40 lakhs. Loan Amount: Get a loan of up to 40 lakhs (or 50 lakhs in specified regions) with no collateral required.
Overdraft Facility: Repay your interest only on the amount used.
Quick Eligibility Check and bank Loan Disbursal: Your loan eligibility is determined in less than 60 seconds, and you receive the funds immediately.
Flexible Repayment Terms: Pay back your loan over a period of 12 to 48 months.
Many Branches: HDFC Bank has over 4,972 branches in India where you can apply for a business loan immediately.
Credit Protect Option: In addition to providing a business loan, HDFC bank also offers credit insurance. This credit protection comes with tax advantages.

What is HDFC Bank’s Business Loan Eligibility?

Self-employed persons, proprietors, private limited companies, and partnership firms engaged in manufacturing, trading, or providing services.
Individuals who have been in their present business for at least three years and have a total of five years of business experience.
The business should have a minimum turnover of Rs. 40 lakh.
The firm should have a minimum annual income (ITR) of Rs. 1.5 lakhs per year.
Those whose firm has been profitable for the last two years.
The applicant must be at least 21 years old when applying for the loan and no more than 65 years old when the loan matures.

What Documents Are Required for an HDFC Loan Application?

Fully completed application form with passport-sized images
HDFC bank Business Plan/Project Report
Identity proof includes a passport, PAN card, Aadhaar card, driver’s license, and voter’s ID card.
Address proof: Aadhaar card, driver’s license, voter’s card Passport
Proof of age can include birth certificates, class X certificates, passports, and PAN cards for applicants, partners, and directors.
HDFC Bank account statement over the last six months.
Income tax returns must be filed with the income tax department for at least two fiscal years.
An ITR should include a balance sheet, income statement, and income computation.
HDFC bank Business address, vintage, and establishment proofs
Copy of licenses, certifications, and permissions, if applicable.