Check your Business Loan eligibility in 1 minute
With simplified documentation and speedy approvals, getting the loan couldn't get easier.
You can check Business loan eligibility online and across all our branches.
- Convenience of contacting us through SMS, Webchat, PhoneBanking and across all Branches
- Business Loan eligibility in 1 minute available online & across all branches
- Self employed customers get exclusive higher loan amount
- Best in class offerings on loan amount, interest rates and charges, for HDFC bank A/c customers
- No collateralCollateral is a necessary element that a recipient has to keep with him to get a loan. Securities can also be used as collateral./ guarantorA guarantor is a person who guarantees payment by another. A guarantor becomes a co-endorser and assumes liability in event of default. / security required
- Speedy approvals
- Funds available for business expansion, working capital, child's education or home renovation
Are you eligible for a Business Loan? See our 1 Minute Eligibility Calculator.
Status of Loan Application
Click here to view the status of your Business Loan application.
Why take a Business Loan from HDFC Bank?
Whatever be your need we have a 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
Features and Benefits of Business Loan
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
- Convenience of contacting us through SMS, Webchat, Click2Talk, PhoneBanking and across all Branches
- Business Loan is also available on the basis of repayment of home loans, auto loans and credit cards.
- Loam Amount up to Rs. 15 Lakhs (Up to Rs. 40 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.
Key benefits of policy
- Protects the family by paying off the loan amount in case of death of the customer
- Life Coverage – provides peace of Mind
- No need to use other savings to repay the loan
- Tax Benefits as per applicable laws
- One convenient package - loan + insurance
* Premium will be charged for Credit Protect will be deducted from the loan amount at the time of disbursal.
(* terms and conditions of the Insurers shall apply, Above product is offered by HDFC Life Ins Co.ltd)
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%
Now reduce your EMI burden with our balance transfer programme.
Apply now for a Business Loan Balance Transfer.
Eligibility Criteria & Documentation for Business Loan
Get details on eligibility criteria & documents required for HDFC Bank Business Loan
Self Employed including Individual Proprietors, Private Ltd. Co. and Partnership Firms involved in the Business of Manufacturing, Trading or Services.
- 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 you will need to submit:
- PAN Card – For Company /Firm/ individual.
- Proof of your identity: Copy of Aadhaar Card/Passport/Voter’s ID card/driving license.
- Proof of your address: Copy of Aadhaar Card/Telephone bill/Electricity bill/Passport.
- 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)
Loan at the sole discretion of HDFC Bank Ltd.
Business Loan Interest Rates & Charges
Enclosed below are HDFC Bank Business Loan Interest Rates & Charges
|Rack Interest Rate Range||17.00% to 22.00%
|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 - 2% of Principal Outstanding
>36 Months - NIL
|No Due Certificate / No Objection Certificate (NOC)||NIL|
|Duplicate no due certificate / NOC||NIL|
|Solvency Certificate||Not applicable|
|Charges for late payment of EMI||@ 24 % p.a on amount outstanding from date of default|
|Charges for changing from fixed to floating rateAn interest rate that is allowed to move up and down with the rest of the market or along with an index. of interest||Not applicable|
|Charges for changing from floating to fixed rateAn interest rate that will remain at a predetermined rate for the entire term of the loan. of interest||Not applicable|
|Stamp Duty & other statutory charges||As per applicable laws of the state|
|Credit assessment charges||Not applicable|
|Non standard repayment charges||Not applicable|
|Cheque swapping charges||NIL|
|Loan Re-booking charges / Re-scheduling charges||NIL|
|Loan cancellation charges||NIL (However Inerest would be charged for the interim period between date of loan disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan. and date of loan cancellation and processing fees would be retained)|
|Cheque Bounce Charges||Rs 450/- per cheque bounce|
|Legal / incidental chargesIncidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer.||At actual|
|CIBIL Report Copy Charges||Rs.50 Per Copy|
With Effect from 1st October 2014, Service tax needs to be paid on applicable Processing fees/Cheque Bounce Charges and Prepayment Charges . Service tax would be charged as per applicable rate specified by Government.
Loan at the sole discretion of HDFC Bank Ltd.
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 HDFC Bank. This is taken into account at the time of disbursal of the loan. You can pay through Standing Instructions to debit your HDFC 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 30,00,000/- 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 collateralCollateral is a necessary element that a recipient has to keep with him to get a loan. Securities can also be used as collateral..
What are the loan tenure options for Business Loan?
You can repay your loan over a period of 12 to 36 months