HDFC Bank Business Loan

4.5
HDFC business loans have been curated, keeping in mind the needs of its customers. It offers flexible tenures, competitive interest rates, and minimal documentation to create a hassle free environment for its borrowers. HDFC Bank provides attractive loan opportunities for self employed professionals and MSMEs. The HDFC business loan interest rate ranges from 11.90% p.a. to 21.35% p.a.

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HDFC Bank Business Loan

Interest Rate

10% - 22.5%

Loan Amount

₹50K - ₹50L

EMI Per Lakh

₹2,125 - ₹2,790

Processing Fees

  • Up to 2.00%* of the loan amount.
  • NIL Processing Fees for loan facility up to ₹5 Lakhs availed by micro and small Enterprises subject to URC submission prior to disbursal.
... more

Pre-Payment Charges

  • 06 – 24 months: 4% of total principal outstanding.
  • 25 – 36 months: 3% of total principal outstanding.
  • More than 36 months: 2% of total principal outstanding.
  • Note:The bank does not permit part/full prepayment of loans until repayment of at least 6 EMIs.
  • The bank allows part-payment of up to 25% of the principal outstanding, after payment of 12 EMIs, once in the financial year and twice during the entire loan tenure.
  • The bank does not levy any foreclosure/prepayment charges for fixed rate business loan facility of up to Rs. 50 Lakh availed by Micro & Small Enterprises (MSE) and closure from own sources
... more

Features and Benefits of HDFC Business Loan

Have a look at the features given below that will help you comprehend HDFC business loans better.

Easy Procedure

You can get an HDFC business loan of Rs. 40 lakhs (Rs. 50 lakhs in a few select branches) without the need of a guarantor, collateral, or security for your business expansion or other requirements.

Easy Transfer of Loan Balance

You can transfer your existing business loan to HDFC Bank and enjoy numerous benefits like low EMIs. Interest rates will be charged as low as 15.75% if you transfer the existing loan. The processing fee charged will be as low as 0.99%.

Facility of Dropline Overdraft

HDFC bank provides the facility of overdraft without any security. You only have to pay the interest on the amount which is utilised. The tenure ranges between 12 and 48 months without any requirement of a guarantor or security. This feature provides an attractive rate of interest.

Quick Services

You can verify the eligibility of your business loan online or at any branch within seconds. 

Provides Protection

HDFC Credit Protect helps you cover the loan by paying only a nominal amount of premium. The benefits of it are innumerable. It provides life coverage, pays off the loan amount in case of death of the customer, thereby protecting the family, and ensures tax benefits can be availed as per the existing laws.

HDFC Business Loan Overview

HDFC business loans have been curated, keeping in mind the needs of its customers. It offers flexible tenures, competitive interest rates, and minimal documentation to create a hassle-free environment for its borrowers. HDFC Bank provides attractive loan opportunities for self-employed professionals and MSMEs.

Documents Required for HDFC Business Loan

Submit the following documents along with your business loan application for an HDFC Business Loan:

  • PAN card (for individual/company/firm)
  • Identity proof (Copy of any one of the following)
    • Aadhaar Card
    • Passport
    • Voter’s ID Card
    • PAN Card
    • Driving Licence
  • Proof of address (a copy of any one of the following)
    • Aadhaar Card
    • Passport
    • Voter’s ID Card
    • Driving Licence
  • Bank statement of the preceding 6 months
  • Latest ITR with Balance Sheet, computation of income, previous 2 years profit and loss account (after being audited/certified by the CA)
  • Proof of continuation (Trade licence/ITR/Sales Tax Certificate/Establishment)
  • Other compulsory documents [Certified Copy of Partnership Deed or Sole Prop. Declaration, Certified true copy of Memorandum and Articles of Association (certified by Director) and Board resolution (Original)]

How Does the EMI Calculation Work for HDFC Business Loans?

Get an idea about your business loan EMI with HDFC online business loan calculator and manage your finances accordingly. Find out your loan EMI in an instant by entering the loan tenure in years, loan amount, and the interest rate in the HDFC EMI calculator. The results will be displayed on your screen. The EMI calculator also provides you with an option to tweak the amounts as per your requirements.

How Does HDFC Compare with Other Lenders?

Glance through the table below to understand the comparison of HDFC business loan interest rate with that of its competitors.

 

Lenders Rate of Interest
SBI 8.30% onwards (on SME Loan)
Kotak Mahindra Bank 14% onwards
FlexiLoans 16% onwards
Axis Bank 17% onwards
Fullerton Finance 17% onwards
Bajaj Finserv 17% onwards
Yes Bank 17% onwards
ICICI Bank 18% onwards
Lendingkart Finance 18% onwards
ZipLoan 16% onwards
IIFL Finance 18% onwards
Hero Fincorp 18% onwards
Indifi Finance 18% onwards
NeoGrowth Finance 18% onwards
Tata Capital Finance 17% onwards
RBL Bank 19% onwards
SMEcorner 19% onwards
IDFC First Bank 20% onwards
HDB Financial Services Ltd. 22% onwards
PNB Business Loan Based on the Business’s Profile
Bank of Baroda Based on the Business’s Profile

HDFC Business Loan Customer Care Number

To enquire about the HDFC business loan requirements, you can reach out to the HDFC customer care number at 1800 202 6161/1860 267 6161, which is accessible pan India.

FAQs

From refinancing to reducing your interest, we have the answers right here.

What is loan foreclosure?

Loan foreclosure is to repay the remaining or outstanding loan amount in a single payment than repaying it in multiple EMIs.

What is the minimum turnover requirement to apply for an HDFC business loan?

The minimum turnover required for a business loan is ₹10 lakh.

Does HDFC check for CIBIL score for business loans?

Yes, every bank and financial institution checks your CIBIL score before approving your business loan.

What is the maximum and minimum business loan amount I can get from HDFC?

HDFC bank offers business loans ranging from ₹50,000 to ₹50 lakh.

How can I speed up my loan approval?

To pace up the loan approval process, you should apply for your loan online, know your credit score, apply for a loan in your bank, etc.

Get your latest Credit Score, FREE

Business Loan Guide

Get in-depth knowledge about all things related to Business Loan and your finances

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