HDFC Bank Business Loan
HDFC bank Business loan is one of the best ways to finance your business needs. HDFC Bank helps offers business loans to help you develop your own business anywhere in India, be it large scale ventures or small scale firms. These schemes are tailor made for people wanting to avail business loans because it comes with a platter full of advantages. HDFC Business loans are free of collateral. Its low interest rates and policy transparency make them one of the best business loan schemes in India. The name HDFC has become a household term in India for home loans and other banking services. It is one of the highest employers in the banking industry, the largest private sector bank in India and has gained significant trust among the masses over the past 25 years of its existence.
The maximum amount limit of the business loan is a whopping of Rs.50 lakhs along with door to door service and simple documentation process. At our website, you can know HDFC bank business loan eligibility, and use the HDFC bank business loan EMI calculator for free and check business loans interest rates in HDFC bank. At our website, you can check HDFC Bank business loan eligibility and HDFC Bank EMI calculator for free. Stay updated on this page Loanbaba.com providing all the information about HDFC Bank business loans:
|HDFC Bank Business Loan Details Updated|
|Loan Amount||Min Rs. 50,000 and Max Rs. 50 Lakh|
|Loan Tenure||12 months to 48 months|
|Interest Rate||15.50% to 18.30%|
Why Apply for HDFC Bank Business Loan?
- The advantage of this loan is its same interest rate charged throughout the duration. A big differentiating factor from other business loans available to borrowers at their disposal from the varied banking players.
- Simple documentation is needed and the business loan in HDFC Bank then gets processed faster. It makes for a hassle-free application procedure after finishing which borrowers can utilize the money at the earliest.
- The customers can pay off the loan in easy instalments every month and can repay it via auto debit or PDC or ECS. These are simple to activate in your bank and most importantly, these modes of repayment ensure that you do not miss a single deadline.
- You can check out HDFC Bank business loan eligibility and HDFC Bank Business Loan EMI calculator at Loanbaba.com. See for yourself how you stand to benefit from this unique place business loan available to business owners in the market. Assess, evaluate and you are sure to make an informed choice.
- Being the largest private sector bank in the country, the trust factor plays in favour of HDFC. It has more than 5000 branches across the country and you can avail great customer service in case of any queries or glitches in the loan application process.
Features of Business Loans at HDFC Bank
The following key points will help you understand the features and benefits of the business loans HDFC Bank:
- On having a Savings or Current account with HDFC Bank, you can avail extra benefits like easier documentation, prioritized processing and a preferred processing charge. An existing relationship with the bank always comes in handy in many ways. This may not sound like a defining feature but you can be a few steps ahead of yourself in such a case.
- The borrowed credit may be repaid between 1 to 4years. The time period for business loans are standard between 12 to 48 months and borrowers can make use of the credit amount handed to them by the bank and repay without too much stress on the company wallet. Loan tenures are pre-decided like the fixed rate of interest while the amount is disbursed.
- Factors like location of product cap, capacity for repayment and income and say, the credit quantum are decided by the bank- from rupees fifty thousand to rupees 50 lakhs only. The bank reserves the right to assess every unique case to lend the loan amount after conducting due diligence.
- There is no requirement for providing of collateral or any kind of guarantee while availing the loan amount. Since HDFC business loans are unsecured loans, applicants need not worry about pledging any of their assets as security. This takes away pressure off the borrower’s mind in many cases and therefore an important feature of the loan.
- Quick disbursal of loan amounts up to Rs.50 lakhs is provided by HDFC. It gives applicants a boost for all their immediate plans with regards to scaling up their business. Amounts can be utilized for business use right after disbursal.
Why Apply for HDFC Bank Business Loan on Loanbaba.com?
At Loanbaba, you can compare and apply for business loans online. You can check out several small business loan schemes by HDFC Bank and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. You can also quickly apply for HDFC Bank Business Loan online on our website without having to visit the branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website. We work closely with HDFC bank to make sure that your application moves along quicker so that you can be rest assured about your loan. Checking the status of your loan application online provides clarity. We, at Loanbaba, believe in total transparency as we understand that these steps may be part of some of your most important life decisions.
How to Apply for HDFC Business Loan on Loanbaba?
You can apply for business loans provided by HDFC Bank or any other bank/NBFC business loan at Loanbaba within a few clicks. Our website is tailor-made specifically keeping loan applicants in mind. It is user-friendly and provides tabulated data for potential loan applicants so that they can compare, analyse different loans and make an informed choice. Fill in the details on our website and you will be directed to a page showcasing all the relevant data required for you to make a decision with regards to a business loan.
HDFC Bank Business Loan Interest Rates
The HDFC Bank business loan interest rate starts at 15.50%, but varies as per individual profile. Banks update their interest rates as per RBI guidelines and it is advisable to keep abreast of such news. But worry not, if you are not an avid follower of the news as we would be happy to help you out on that front. All you need to do is keep a check on this page to note the updated HDFC Bank business loan interest rate for the current year.
HDFC Bank Business Loan Eligibility Calculator
Business loan eligibility may differ from one candidate to another. You can also use free-of-cost business loan HDFC Bank loan eligibility calculator at Loanbaba. The eligibility criteria for loan for business are discussed below:
- The applicant for business loan by HDFC Bank needs to meet the age requirement and possess all necessary identity and profit/revenue proof required by the bank. This is the primary step when applying for the loan and the procedure is taken seriously.
- He/she must meet the requirement for company credit score and should not be under too many debts. A good CIBIL score is important, anywhere upwards of 750 is considered to be a strong score. Existing loan overdue amounts are not a good sign and banks may charge a higher interest rate because of the same. It is advisable to clear all dues before applying for a business loan.
Types of HDFC Bank Business Loans
HDFC Bank has business loan schemes for all kinds of professionals. The amount taken as loan can be used for either multiple or specific purposes. Businesses need to scale up at the right time to make the most of opportunities thrown by the market. An astute businessman is wary of this phenomenon and keeps a close check on his/her company’s growth prospects. The other kind of business loan applicant is the one who wants to start a business but has always held himself back due to financial constraints or other personal reasons. These candidates can apply for the different types of HDFC bank business loans to power their journey in the business world. Also, a great reflection of a healthy business loan includes the repayment plan mapped out by the borrower in tandem with his or her profit schedules.
HDFC bank trusts its business loan applicants to scale new heights with its financial tool in the course of time. Self-employed individuals and business owners may apply for this loan to empower their business goals and see them from the ideation stage to execution stage. HDFC bank business loans have competitive interest rates and all other charges are listed out leaving no room for any hidden charges or unforeseen, added expenses to applicants.
Frequently Asked Questions about HDFC Bank Business Loans
Here are the HDFC Bank business loans FAQs.
1. What are the Eligibility criteria for HDFC Business Loan?
The eligibility criteria for business loan HDFC bank are mentioned below:
- During maturity the borrower shouldn’t be 65 plus. 21 years age is the minimum borrowing criteria.
- The lowest limit for yearly income of venture is Rs. 1.5 lakh
- Business should show profits for past 2 years.
- Overall business experience should be 5 years with at least 2 plus 1 year in current venture.
- Minimum turnover of venture shouldn’t be less than rupees 40 lakh.
- Partnership firms, companies those are private limited, professional individuals and proprietors in trading, servicing or manufacturing business.
2. What is the Advance Payment System of the HDFC Bank Loan Scheme?
The details about advance payment system for business loan HDFC bank is mentioned below:
- All payments those are more than rupees 49 thousand must be done by Demand draft or pay order or account payee cheque.
- Prepayment involves paying applicable foreclosure fees along with six EMIs, any moment after 6 months of availing the business loan
- Money more than rupees 49 thousand would not be taken for repaying of credit against completely matured or closed loan payment. Credit can be closed before hand by a cheque at the branch or a demand draft.