Everything You Need to Know About the Dukandar Overdraft Facility

Everything You Need to Know About the Dukandar Overdraft Facility

08 March, 2023

Everything You Need to Know About the Dukandar Overdraft Facility

The year 2020 saw unprecedented challenges brought about due to the COVID-19 pandemic. While the pandemic affected almost all sectors of the economy, one of the worst-hit sections was that of smaller shopkeepers and merchants. Without regular shoppers providing cash flow, such business owners have struggled to stay afloat during these tough times. However, now that things are returning to normal, they can resume business full force. To help them meet their capital needs, they can rely on the HDFC Bank Dukandar Overdraft Facility.

What is Dukandar Overdraft Facility?

HDFC Bank Dukandar Overdraft is a form of business financing designed for dukandars. It is an overdraft facility for small retailers that double as a working capital loan to meet their business requirements. Thus, they can use their bank account to avail of financial aid even if they do not have those funds parked in the account.

The eligibility criteria for the HDFC Bank Dukandar Overdraft Facility are as follows:

  • The facility is available to retailers, shopkeepers, and village-level entrepreneurs.

  • You must be a proprietor or business partner in the business to apply.

  • Your business must have been operating for a minimum of three years.

  • You must provide 6 months' bank statements from any bank.

  • You must have been a customer of the bank in question for at least 15 months.

With such basic eligibility criteria applying for the Dukandar Overdraft Facility at HDFC Bank is easy and seamless.

What are the Features of the HDFC Bank Dukandar Overdraft Facility?

When you apply for the HDFC Bank Dukandar Overdraft Facility, you can enjoy the following features:

High-Value Amounts:

HDFC Bank understands that smaller retailers also require substantial capital to keep their operations running. Thus, via the Dukandar Overdraft Facility, HDFC Bank offers an overdraft limit of a minimum of ₹ 50,000 and a maximum of ₹ 10 lakhs. With such a broad range, retailers of all kinds and scales can find the capital required for their businesses.

No Collateral:

Since the Dukandar Overdraft Facility is designed for smaller shopkeepers and merchants, it is essential that the terms are designed to suit their needs. Thus, HDFC Bank offers financial aid without requiring any collateral as security. This reduces the burden placed on smaller business owners and enables you to avail of financial aid without worrying about arranging for collateral.

Quick Approval:

At HDFC Bank, the approval process for the Dukandar Overdraft Facility is fairly simple. HDFC Bank does not require excessive paperwork to assess your application. The bank statements submitted are evaluated to determine approval. HDFC Bank approves an overdraft limit on the basis of the same. Thus, you save precious time and can avail of funds for your business faster than before.

No Business Financials and Income Tax Returns are Required:

If you have been looking for a business loan without ITR or business financial requirements, then the HDFC Bank Dukandar Overdraft Facility is what you need. HDFC Bank keeps the position of smaller retailers in mind and does not require financial or ITR papers to assess an application. Not having to submit these documents makes availing of financial aid more accessible and stress-free for smaller business owners.

Easy Application:

You can apply for the HDFC Bank Dukandar Overdraft Facility without any hassle. You can either visit an HDFC Bank near you or apply online via NetBanking and PhoneBanking portals. HDFC Bank requires minimal paperwork, so you can submit your application without having to gather excessive documentation.

Whether you have a small shop or a fledgling retail business, you can avail yourself of the funding required to help it grow. Now that you know more about the HDFC Bank Dukandar Overdraft Facility apply online by clicking here.y

Is cash credit or overdraft better for your business? Click here to read more!

To learn more about the various products and services at HDFC Bank that can benefit your enterprise, you can check out the MyBusiness page.

​​​​​​​*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. HDFC Bank recognises the challenges entrepreneurs face while acquiring capital. Thus, HDFC Bank has created MyBusiness, a one-stop solution that gives you easy access to loans, digital solutions and provides you with the essential knowledge you need to run your business. With HDFC Bank MyBusiness, you can scale up, expand your operations, and nurture your business.

Looking For Dukandar Overdraft Facility? Apply Online

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