This blog is based on HDFC Bank – Business Loans – Apply For Business Loan Online with low interest. HDFC Bank offers Loans Up to Rs. 50 Lakhs for Small / Business Loan.
HDFC Bank – Business Loan Details
|Loan Amount||Up to Rs 40-50 lakh|
|Interest Rate||11.90% & to a maximum of 21.35% per annum.|
|Apply||Online / Offline|
About HDFC Bank Business Loan
HDFC Bank provides business loans of up to Rs 40-50 lakh to help you meet your business funding needs. Potential borrowers do not need to deposit any security or guarantee with the lender to get this application.
How much Business Loan can I get from HDFC Bank?
To help Small Businesses and Startups, HDFC Bank Provide Business loans for those Business owners up to Rs. 40 Lakh and up to 50 Lakh in some cities.
How much time does it take for the business loan approval in HDFC Bank?
It depends on the Branch office, How they work. Usually, it takes 7 to 15 Days.
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HDFC Bank – Eligibility Criteria for Business Loan
- Proprietors, Self-employed person, Private Ltd. Co. and Partnership Firms involved in the business of Manufacturing, Service or Trading.
- The Turnover amount of the Business is at least Rs. 40 Lakh.
- Individuals who have been in the current business for a minimum of 3 years. With a total of 5 years of business experience.
- Whose business has been making a profit for the past 2 Years.
- The business should have a minimum annual income (ITR) of Rs. 1.5 lakh per annum.
- The age of the applicant is greater than 21 Years old and less than 65 Years.
HDFC Bank – Interest rate for Business Loan
The Interest rate of HDFC Bank Business Loan is between 11.90% & to a maximum of 21.35% per annum.
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HDFC Bank – documents required for Business Loan
To get HDFC Bank Business Loan, these are the required documents to submit along with the Loan Application:
- PAN Card – For Company/Firm/Individual
- Identity proof (Aadhaar CardPassport/Voter’s ID Card/Driving License)
- Address proof (Aadhaar Card/Voter ID Card/ Passport/ Driving License)
- Bank statement of the previous 6 months
- The Latest ITR along with computation of income, Balance Sheet, and Profit & Loss account for the previous 2 years,
- Proof of continuation (ITR/Trade license/Establishment/Sales Tax Certificate)
- Sole proprietorship declaration
- Other Mandatory Documents ( Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association)
Who can take Business Loan from HDFC Bank?
Every Indian Holder of HDFC Bank can take HDFC Bank Business Loan if they are eligible for this loan. To know more details, Visit Branch.
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How to get a Business loan from HDFC Bank?
Step 1: First Check Your Eligibility Criteria before you apply to HDFC Bank for a business loan then, you will need to check the lender’s eligibility criteria.
Step 2: Once you are eligible for Business Loan, you can Apply Online or Offline (Recommended Offline mode Via Visiting Branch).
Step 3: Once you submit the online application form or offline application, a representative from HDFC Bank will contact you. Once your application is approved, the loan amount will be credit into your bank account.
How to apply for Business loan – HDFC Bank?
There are 2 ways to apply for a business loan.
- Online Mode: Visit HDFC Bank Loan Section on the official website and click on Apply Online. Fill out the form with the details requested and their application process has started.
- Offline Mode: You can directly visit the branch office, then discuss the Loan in Loan Department Officer and can fill the application.
HDFC Bank Business loan: Feature and Benefit
- Loans can be taken without any security deposit.
- HDFC Bank credit business loan very fast than another bank
- The lender charges at a competitive rate.
- HDFC Bank provides a simple and easy application and documentation process.
- The loan amount can be used to finance any business-related needs.
- The bank offers a balance transfer facility. The interest rate of 15.75% p.a. And 0.99% processing fee are paid when transferring your existing loan to HDFC Bank.
- Customers can opt for a credit protection plan by paying a nominal premium.
- For any help with your loan, you can reach out to them via SMS, Phone Banking, Webchat, and Click2Talk.
Details About HDFC Bank Business loan Schemes
HDFC Bank provides Business Loan schemes for both self-employed persons and Businessmen.
- Business Loan To Manufacturers
- Business Loan To Traders
- Loans To Self-Employed
- Business Loan To CA
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Reference: HDFC Offical Website (HDFC)