HDFC BUSINESS LOAN:- A business loan is specifically intended for business purposes. It involves the creation of a debt. This loan will be repaid with the added interest. Apply for business loan fromHDFC bank with the lowest interest rate. HDFC bank provides many types of loans accordingly the need of customer. HDFC customers get many benefits when they take a loan from HDFC Bank because HDFC bank provides number of different types of business loan. Customers can take triple benefits while having loan from HDFC bank:
- Get faster loan: Procedure of loan sanction and disbursal is one of the quickest feature of HDFC with easy documentation and doorstep service.
- Competitive/Reasonable pricing: Loan rate and interest rate are lowest and cheap.
- Transparency/Clarity: All the charges are done in writing along with the loan quotation.
There are many other benefits and feature of HDFC business loan:- Customers can check there business loan eligibility in a minutes online & across all branches of HDFC bank. Self employed customers get an exclusive higher loan amount. Speedy or fastest approvals of business loan. Some of the benefits are given below:
- Customers can contact for business loan through SMS, Webchat , Phone banking & all over branches of HDFC bank.
- Business loan is also provide on the history of repayment of home loans, auto loans or some other kind of loan.
- Business loan is available on the basis of credit cards.
- Loan amount available up to Rs.15 lakhs to Rs.40 lakhs in some selected locations.
CHECK ELIGIBILITY FOR BUSINESS LOAN
There are some norms or eligibility criteria required for business loan from HDFC bank. Loan seeker have to full fill that norms and submit some required documents for approval of business loan.
Self Employed(Individual), Private Ltd Co. & Self employed(Partner ship Firms) in the Business of Manufacturing, Trading or services.
- Minimum Turnover Rs 40 Lakhs annually.
- Minimum 3 year experience in current business and 5 year experience in total business.
- Profit making business at least last 2 years.
- 1.5 Lakhs Minimum Annual Income(ITR)
- Age of Loan seeker for Business loan minimum 21 years and maximum 65 years.
REQUIRED DOCUMENTS WILL NEED TO SUBMIT ARE:
- PAN Card for Company/ Firm/individual.
- Identity proof: Passport copy, Aadhaar card, PAN card, Driving License or voter ID copy.
- Address Proof: Driving License, Aadhaar card copy, PAN card, Passport.
- Last 6 month bank statement.
- Balance sheet , latest ITR (Income Tax return) Profit and lost a/c for the last 2 years, Certified financing by CA.
- Continuation proof like Income Tax return, trade license, Establishment or sale tax certificate.
- Mandatory Documents.
All provides documents are certified by Director and board resolution. Given details have to be correct or provided document should be Original.
APPLY ONLINE FOR BUSINESS LOAN BY FOLLOWING PROCESS :- By following this process customers can get business loan eligibility in a minute.
- Visit the official site of HDFC bank www.hdfcbank.com
- Click on business loan link.
- Then fill the first step that is get eligibility like current city, residence type, type of employment or some business details.
- Enter on the calculate my eligibility button.
- Duly fill all the required information and submit the form for Business loan eligibility.
BUSINESS LOAN INTEREST RATES & CHARGES
|Rack Interest Rate Range||16.25% – 19.75%|
|Charges of Loan Processing||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 the 6 EMIs|
|Pre-payment charges||07-24 Months to4% of Principal Outstanding|
25-36 Months to3% of Principal Outstanding
>36 Months to 2% of Principal Outstanding
|No Due Certificate orNo Objection Certificate (NOC)||NIL|
|Duplicate no due certificate orNOC||NIL|
|Solvency Certificate||Not applicable|
|Charges for late payment of EMI||@ 24 %(percent)p.a on amount outstanding from date of default|
|The Charges for changing from fixed to floating rate of interest||Not applicable|
|Charges for changing from floating to fixed rate of interest||Not applicable|
|Stamp Duty andother statutory charges||As per applicable laws of the state|
|Credit assessment charges||Not applicable|
|Non standard repayment charges||Not applicable|
|Cheque – swapping charges||Rupees500/-|
|Amortization Schedule charges||Rupees200/-|
|Loan cancellation charges||NIL (However Inerest would be charged for the interim period between date of loan disbursement and date of loan cancellation and processing fees would be retained)|
|Cheque Bounce Charges||Rupees550/- per cheque bounce|
|Legal orincidental charges||At actual|
|CIBIL Report Copy Charges||Rupees 50 Per Copy|
Rates offered to customer during the period of January’16 to March’16.
|IRR||Q IV (2015-16)|
|Min IRR||12.50 percent|
|Max IRR||19.76 percent|
|Avg IRR||16.55 percent|
Annual Percentage Rate offered to customer during the period of January’16 to March’16.
|APR||Q IV (2015-16)|
|Min APR||12.75 percent|
|Max APR||22.20 percent|
|Avg APR||17.01 percent|
NOTE:- This page is completely dedicated to the HDFC bank Business loan. Customers of HDFC bank can also bookmark this page to get related information about Business loan.