Business Loan / Business Loan / RuLoan

Business Loan

business loan in mumbai

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Whatever be your need we have a business loan for you. Over the years we have won the trust of our customers and have become market leader in loan products.

Enjoy triple benefits when you take a Loan from HDFC Bank:

  • Faster Loan - Our loan sanction and disbursal is one of the quickest with easy documentation and doorstep service.
  • Competitive Pricing – Our loan rates and charges are very attractive
  • Transparency – All charges are communicated up front in writing along with the loan quotation

You will get some exclusive features and benefits with your HDFC Bank Business Loan

    • In - Principle loan eligibility in 1 Minute online and across all branches
    • Business Loan is also available on the basis of repayment of home loans, auto loans and credit cards.
    • Loan Amount up to Rs. 15 Lakhs (Up to Rs. 50 Lakhs in selected locations).
    • Flexible repayment options ranging from 12 - 36 Months.
    • Credit Protect Insurance Plan:

We help you take care of your loved ones with a Credit Protect Plan to cover your loan at a nominal premium.*

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.

We will charge a premium for this product, and the premium amount will be deducted from the loan amount at the time of disbursal. We will also charge service tax and applicable surcharge/cess at the rates notified by the government.

Secure your business loan with Credit Protect.

Already have a Business Loan?

Reduce your EMI, transfer your existing Business Loan to us. Business Loan balance transfer offers special and exclusive benefits.

  • Interest rate as low as 15.49* % on existing loan transfer.
  • Processing fees as low as 0.99%

Eligibility Criteria & Documentation for Business Loan

Who can apply for Business Loan

Self Employed including Individual Proprietors, Private Ltd. Co. and Partnership Firms involved in the Business of Manufacturing, Trading or Services.

Business Loan Requirements:

  • 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.
  • Age of Applicant: Min 21 years & Max. 65 years at the time of loan maturity.

 

Documents Required for Business Loan :

 

  • PAN Card – For Company /Firm/ individual.
  • Proof of your identity: Copy of Aadhaar Card/Passport/Voter's ID card/Pan Card/Driving License.
  • Proof of your address: Copy of Aadhaar Card/Passport/ Voter ID-Card/Driving License.
  • Bank Statement (latest 6 months)
  • Latest ITR along with computation of income, Balance sheet and Profit & Loss a/c for the last 2 years. Financial should be CA Certified /Audited.
  • 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)

Enclosed below are HDFC Bank Business Loan Interest Rates & Charges

Fee Charges
Rack Interest Rate Range 16.25% to 19.40%
Loan Processing Charges Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 75000/-
Prepayment No pre-payment permitted until repayment of 6 EMIs
Pre-payment charges 07-24 Months - 4% of Principal Outstanding
25-36 Months - 3% of Principal Outstanding
>36 Months - 2% of Principal Outstanding

BUSINESS LOAN

IRR

Processing Fees

Segments

Loan Amount Size

Rack Rate

External

Internal

REGULAR

Loan 0- 4.99 Lacs

19.35%

2.50%

2.00%

Loan 5 - 9.99 Lacs

18.00%

2.50%

2.00%

PREMIA

Loan 10 - 19.99 Lacs

16.60%

2.50%

2.00%

Loan 20 - 39.99 Lacs

16.50%

2.50%

2.00%

What are the benefits of having a Current/Saving Account for my Business loan?

You get preferred Processing Fee, priority processing and simpler documentation if you have a Current/Saving Account with Bank. This is taken into account at the time of disbursal of the loan. You can pay through Standing Instructions to debit your Bank Account with the EMI amount.

How much loan can I avail of Business Loan?

You can avail of a loan from Rs 50,000/- to Rs 40,00,000/- depending on your income, repayment capacity and respective location product cap.

How do I repay my Business Loan?

You pay the loan in equated monthly installments. The loan will be paid through post-dated cheques or through Standing Instructions to debit your HDFC Bank account with the EMI amount. Calculate how much you will repay each month

What security do I need to provide to obtain a Business loan?

To obtain the loan, there is absolutely no need to provide any security or collateral.

What are the loan tenure options for Business Loan?

You can repay your loan over a period of 12 to 36 months

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