HDFC Bank Business Loan

  • Home
  • Loan
  • HDFC Bank Business Loan

Business Loan

You can avail of HDFC Bank business loans up to Rs. 75 Lakhs for a tenure of up to 5 years at competitive HDFC Bank business loan interest rates. The bank also offers pre-approved business loans with no paperwork and 10-second disbursal time for pre-approved HDFC Bank customers

Apply Now

On HDFC Bank Official Website.

Untitled design

Updated: 27-05-2024 12:40:37 PM

HDFC Bank Business Loan Highlights

The key highlights of HDFC Bank business loan are mentioned below:

Loan Amount Up to Rs. 75 Lakhs
Rate of Interest 10.75% – 22.50% p.a.
Repayment Tenure 1 – 5 years
Processing Fee Up to 2% of the loan amount + GST
Prepayment Charges Up to 4%
Age 21 – 65 years
Collateral Not required

HDFC Business Loan Key Features

  • The interest rate of business loan in HDFC Bank is competitive.
  • You can avail of a loan up to Rs. 50 Lakhs (up to Rs. 75 Lakhs in select locations) without any collateral/ guarantor/ security.
  • HDFC Bank business loans can fulfil every business need, from business expansion and working capital, or any other personal work.
  • The bank offers flexible tenure of up to 5 years with a minimal processing fee of up to 2% of the loan amount + GST.
  • Minimal documentation is required.
  • No paperwork and 10-second disbursals for pre-approved HDFC Bank customers.
  • You can transfer your existing business loan to HDFC Bank for lower EMIs, attractive interest rates, and flexible tenure of up to 48 months.
  • HDFC provides an overdraft facility of Rs. 1 Lakh to Rs. 25 Lakhs without any security for tenure ranging from 12 to 48 months. The limit is set in a separate Current Account which drops monthly till the end of the tenure. Pay the interest only on the amount utilised. No guarantor/ security is required.

HDFC Bank Business Loan Interest Rates

HDFC Bank business loan rate of interest ranges from a minimum of 10.75% and a maximum of 22.50% per annum. Apart from the interest rate, you will also be required to pay a minimal processing fee. The processing fee is restricted to 2% plus GST (which is standard) across all the products. Processing fee for loan facility up to Rs. 5 Lakhs is nil if availed by Micro and Sall Enterprises (subject to URC submission prior to disbursal).

Types of Business Loans Offered by HDFC Bank

HDFC Bank offers business loans to fulfil all your business needs including expansion, office renovation, modernisation, capital needs, automation, equipment purchases, skill development, and so on. HDFC Bank Business Loans are specially designed for MSMEs and provide their business with the momentum they need to take the business to newer heights. To make things convenient, HDFC Bank guarantees loans at reduced turnaround times for short and long-term business needs.

HDFC Bank Business Loan Fees & Charges

Type of charge Amount
Processing fee Up to 2% of the loan amount + GST; Nil for loans up to Rs. 5 Lakhs for Micro & Small Enterprises subject to URC submission prior to disbursal
Part prepayment charges 2% to 4% of part payment amount; Nil for fixed-rate loan facility up to Rs. 50 Lakhs for Micro & Small Enterprises (closure from own source & submission of Udyam Registration Certificate before disbursal)
Foreclosure charges 2% to 4% of principal outstanding; Nil for fixed-rate loan facility up to Rs. 50 Lakhs for Micro & Small Enterprises, Closure from Own Source & submission of Udyam Registration Certificate before disbursal
Stamp Duty & other statutory charges As per applicable laws of the state
Delayed instalment payment charge 18% p.a + applicable government taxes on the overdue instalment amount
Repayment mode change charges Rs. 500
Instalment default charges Rs. 450 per month
Amortization/repayment schedule charges Rs. 50 per schedule for a physical copy
Payment return charges Rs. 450 per instance
Legal/Incidental charges At actuals
Loan rebooking charges Rs. 1,000 + applicable government taxes

HDFC Bank Business Loan Eligibility Criteria

Following is the detailed HDFC Bank business loan eligibility criteria to apply for an HDFC Bank business loan:

  • Self-employed individuals, proprietors, private limited companies and partnership firms involved in the business of manufacturing/ trading/ services.
  • The business should have a turnover of at least Rs. 40 Lakhs.
  • Individuals must have been in the current business for at least 3 years, with 5 years of total business experience.
  • The business must have been profit-making for the previous 2 years.
  • The business should have a Minimal Annual Income (ITR) of Rs. 1.5 Lakhs per annum.
  • The applicant should be at least 21 years old at the time of applying for the loan and not older than 65 years at the time of loan maturity.

Documents Required for HDFC Bank Business Loan

To apply for a business loan at HDFC Bank, you will need to submit the following documents are required along with your business loan application:

  • PAN Card: for Company/ Firm/ Individual
  • A copy of any of the following documents as identity proof:
    • Aadhaar Card
    • Voter’s ID Card
    • Passport
    • PAN Card
    • Driving License
  • A copy of any of the following documents as address proof:
    • Passport
    • Aadhaar Card
    • Voter’s ID Card
    • Driving License
  • Bank statements for the last 6 months
  • Latest ITR along with Computation of Income, Balance Sheet, and Profit & Loss Account for the last 2 years (CA certified/ audited)
  • Any of the following documents as proof of continuation:
    • ITR
    • Trade License
    • Establishment
    • Sales Tax Certificate
  • Other Mandatory Documents
    • Sole Proprietorship Declaration/ certified copy of Partnership Deed
    • Certified true copy of Memorandum & Articles of Association (certified by Director)
    • Board Resolution (original)

How to Apply for an HDFC Bank Business Loan?

  • Open the ‘Business Loan’ page on our website under the ‘Loans’ and click on Compare & Apply.
  • Enter all the required details.
  • Click on ‘Let’s Go’.
  • Choose employment type and enter annual turnover, address details, and other business-related information.
  • Accept the terms & conditions and click on Next.
  • Enter the OTP received.
  • Compare the options displayed on the screen and choose Bajaj Finserv Bank.
  • Click on Apply Now to submit your business loan application.
  • Note down your Application Number for future reference.
  • Our representative will get in touch with you soon.

HDFC Bank Business Loan Customer Care

Whether you need any information regarding business loans or want to enquire about your HDFC Bank business loan application status, you can reach HDFC Bank business loan customer care through any of the following ways:

  • Call us on 1800 1600/ 1800 2600 (accessible across India)
  • Customers travelling overseas can reach us on 022-61606160
  • Connect with Eva for quick solutions to common queries
  • Contact Nearest Branch
  • Loan status tracker

View and improve your credit score -
for free.

  • Know how good your score is
  • Get insights on how to improve it
  • Unlock offers as per your score
Evaluate Now

Trending Business

Business Loan Offers

Get Kotak Mahindra Bank Business Loan up to Rs. 2 Crore online at interest rate starting from 16% p.a.

HDFC Bank Business Loan FAQs

You can get a business loan from HDFC Bank online by applying for the same on its official website or by visiting the nearby branch of the bank. You can also contact HDFC Bank customer care to know the detailed application process.

HDFC Bank business loan statement can be downloaded as a PDF through HDFC net banking or HDFC mobile banking platform.

The HDFC Bank business loan EMI can be calculated by using the formula E = [P x R x (1+R) ^N] / [(1+R) ^ (N-1)] wherein E is the EMI, R is the rate of interest, P is the principal loan amount, and N is the loan tenure.

The business loan interest rate in HDFC Bank ranges from 10.75% to 22.50% p.a.

Yes. HDFC Bank lets you transfer your existing Business Growth Loan to HDFC Bank at a lower interest rate and lower EMIs.

You can repay your HDFC Business Growth Loan within a period of 12 to 48 months.