Whether your Business is small or big everyone who wants to compete with other Business competitors need finance to give a new height to Business. Here is a solution to get HDFC Business Loan without any collateral or security.
Features and benefits of Business Loan:-
- Easier documentation & prioritized processing
- No requirement of collateral or any kind of guarantee
- Quick disbursal of loan
- No Foreclosure is permitted during the first 6 month
- Pay interest only on the utilized amount
- Tenure starts from 12 months – 48 months
Types of HDFC Business Loan
1. Start-Up Loan: -Have you planned to start up your new business and lacking from funds Now HDFC bank offers a business loan in low interest of rate and high tenure.
2. Working Capital Loan: -This loan offers to a small business that helps to fulfil the day-to-day operations of enterprises, Manufactures, trader, wholesalers, retailers who are eligible for HDFC bank business loan.
3. Term Loan: - This type of loan can be secure or unsecured comes with a fixed duration for repayments, a fixed amount, and a fixed rate of interest.
4. Equipment Loan: - HDFC bank offers equipment loan for purchasing an equipment for business such as machinery, furniture, etc. Bank offers this loan on low rate of interest with no collateral.
5. Business Loans for Women: -Name clarifies that this loan is forbusiness women who run small and medium-sized businesses.
6. Business Loan for SME: -HDFC bank is offering a business loan for small and medium enterprises. Applicant can apply for this loan by pledging their residential and commercial property as collateral.
7. Invoice financing: It is a very good way to collect cash for small and large businesses using outstanding invoices. HDFC bank offers this credit facility to get loan on customer unpaid invoice to increases business cash flow.
Also Read:-Overdraft Against Salary
HDFC Business Loan interest rate and Loan amount
|Interest Rate||16% onwards|
|Loan Amount||Max up to Rs. 50 lakhs|
|Repayment Period||12 months – 48 months|
- Other charges on HDFC Business Loan
- Loan closure letter: Nil
- Collateral: not required
- Processing fee: up to 2.50% on loan amount
- Prepayment charges: prepayment Charges is depended on your loan tenure
- your loan tenure is 07 to 24 months: up to 4%
- Your loan tenure is 25 to 36 months: up to 3%
- Loan tenure is more than 36 months: up to 2%
- Cheque bounce charges: Rs. 550
- Loan cancellation charges: Nil
HDFC Business Loan Eligibility
Get the HDFC business loan firstly meet this eligibility criteria given below if you are eligible then apply today.
- If you are a proprietor, self-employed individuals, private Ltd. And partnership firm and business manufacture are eligible for business loan.
- Your business yearly turnover is minimum of Rs 40 lakhs.
- Any business is earning profit Last two year they are also eligible
- At the time of applying for this loan applicant age should be at 21 years and 65 years at the time of loan maturity.
- Business ITR should be Rs 1.5 lakh p.a.
- Individuals who have running the business last 3 years, with 5 years business experience.
HDFC Business Loan documents required
Documents are same for both self-employed individuals or salaried employee's individuals.
- When you will fill the application form you need to paste a passport photo on your application form.
- All necessary KYC documents like your passport, pan card, Aadhar card, driving license, voter id card, electricity bill, water bill etc.
- Bank statement of last 6 months
- Income tax filled with income tax department of last two years as a proof of your Income
- Business details address, vintage and established proofs etc.
- Identity proof of your applicant, director and partner
- Any other document required by HDFC Bank
How to Get a Business Loan from HDFC Online?
Applicant can apply for HDFC business loan by visiting their official website. But before that you need to check your eligibility criteria for getting the HDFC business loan if your eligibility matches then you should follow these steps to apply the business loan.
Once you done with HDFC Business Loan eligibility criteria you just need to click on “Apply Now”. Registered yourself and log-in with your mobile number.
Once you submit the application form with your personal and professional details, the HDFC Bank officer will contact you soon. You also have to submit the required documents to the lenders, after some time you will receive the approval. Once your application and documents are approved by the bank your loan amount will be credited in your account.
Alternatively, if you do not want to apply online for a business loan from HDFC Bank, you can visit the nearest branch of the HDFC Bank then fill the application form and submit it with required documents. your loan application will be approved after verification of your documents by the lender.
Also Read:-SBI Personal Loan
HDFC Business Loan FAQ
How to use HDFC Business Loan Eligibility Calculator?
HDFC business loan eligibility is different from one borrower to another. If you want to know your eligibility for Business loan then use the HDFC bank business loan eligibility, calculator. It is free of cost you just need to the official website of business loans where you will find the loan eligibility calculator. Fill your details credit score, age, and other information and reached out on your eligibility.
How to reduce Business Loan tenure HDFC?
If, you want to reduce your business loan tenure HDFC. It's quite easy now you can choose your tenure according to your loan amount, income, and repayment capacity.
How to check HDFC Business Loan status?
You can call on this number 1800 258 3838 or you can check your HDFC bank business loan status online through your mobile number which is registered with your account.
How Business women can get a HDFC Business Loan?
You are a business woman and want to get business loan for expansion your business it has the same eligibility criteria to avail for this loan simply fill the application form online or offline as per your choice and summit the hard copy or soft copy of documents and wait for approval.
How can I pay my HDFC Business Loan EMI online?
You can pay your EMI online through net banking, google pay, phone pay, or UPI.
HDFC Business Loan customer care number
For any queries, complaints and feedback regarding the loan, the bank has offered 24/7 customer service. Customers can contact with HDFC Business Loan Customer Care through following ways:
1. Toll-free Number: 1800 258 3838 (open from 8 a.m. to 8 p.m. on all days)
2. You can directly visit HDFC Site & fill basic details to continue online chat ask your quires
3.You can contact the bank customer care team email,LEA.Communication@hdfcbank.com.or SMS send quick SMS to HDFCHOME to 5676712
Also Read:-Loan Against Property