You are struggling with the shortage of cash you need short-term loans for your business operations such as buying an inventory, salary of employees, debts payment, and so on. Apply for HDFC Working Capital Loan for doing all these activities.
Features and benefits of Working Capital Loan
Features:-
- Short term loan
- Speedy process
- Limited EMI
Benefits:-
- Any assets acceptable as collateral
- Short repayment tenure
- Flexible rate of interest
HDFC Working Capital Loan Interest Rate and Processing Fee
| Loan amount | You can get minimum Rs.10 lakh to Rs.25 lakhs |
| Tenure | As per bank choice |
| Interest rate | Up to 11% to 16% p.a. depends on bank |
| Processing fee | Up to 1% of the loan amount |
Various Types of Working Capital Loan
HDFC Bank offers different types of Working Capital Loan you can apply for it as per your need:
Short-term Loan: Banks offer this loan for small businesses to fulfil day-to-day business expenses it is a short-term loan with short tenure and fixed rate of interest to be paid.
Trade creditor: - Both current and new suppliers who trade in bulk purchases can avail of this loan but at the time of applying you should read all terms and conditions very carefully and patiently.
Factoring and advances: -Many clients paid the money as soon as invoice sent to the factoring company but this type of loan is only beneficial for those businesses who deal with credit card mode of payments.
Equity funding:-Many businesses arrange the Capital with the help of a shareholder who is interested to invest in your business. Shareholder can be anyone like your friend, family member, or the general public.
Bank overdraft or credit line:- HDFC offers this loan credit facility. If you don’t have enough cash in your bank account then you can use a credit line facility to arrange funds. Apply for this loan your credit history should be good and timely payment of your EMIs & interest rate.
HDFC Working Capital Loan Eligibility
Getting the HDFC Working Capital Loan firstly check the eligibility criteria given below if you are eligible then apply today.
- If you are a proprietor, self-employed individuals, private Ltd and public companies, partnership firm and business manufacture, traders, retailers 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
- Cibil score should be 750 and above than it
- At the time of applying for loan applicant age should be at least 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
- Ownership of your collateral
Also Read:-Home Loan Process
HDFC Working Capital Loan Documents Required
Before applying for loan check the list of documents required by HDFC Bank. Documents are same for all self-employed individuals, salaried employee's individuals, retailers, manufacture, & traders.
- Passport size photos
- 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 ownership proof, details address, vintage and established proofs etc
- Identity proof of your applicant, director and partner
- If you have taken the previous loan then you need to submit the record of your previous loan repayment
- Any other document required by HDFC bank
How to apply for HDFC Working Capital Loan Online?
You can apply for a Working Capital Loan in two ways the first one is online and another is offline. It's totally depend on you How do you want to apply? But before that, you need to check your eligibility by using HDFC Eligibility Calculator.
First, we will see How you can Apply online in few Simple Steps:-
- Visit the official website of HDFC Bank
- Download the application form
- Fill it with all your details and summit it
- Once you summit it you need to attach some necessary documents which is shown in the application form
- Bank representative will verify your details and documents
- After approval your loan amount will be transfers in your account
If, you want to apply offline just follow these steps and get Loan on your finger tips:
- Visit the nearest branch of HDFC Bank
- Request for an application form
- Fill the application form with your personal details and submmit it
- Bank officer will tell you about documents which you need to attach with application form
- After submmiting form bank will check your documents & application form and verify your loan
- After approval your loan will be credited in your account.
Frequently Asked Questions
How to get a Working Capital Loan from Bank?
There are simple steps to apply for working capital loan from bank:
- Fill up the application form
- Attach the relevant documents
- Wait for approval
Why should I get a HDFC Working Capital Loan?
Emergency cash requirement: -If business need emergency liquidity for any purpose apply for working capital loan.
Investment opportunities: - When the Businessman wants to invest in the market but not have sufficient funding in this situation, they can apply for HDFC Working Capital Loan.
What is the HDFC Working Capital Loan Interest Rate?
The rate of interest on the Working Capital Loans is up to 11% to 16% depends on the bank.
What are the other charges I have to paid on Working Capital Loan?
Apart from interest rate you need to pay the processing fee, repayment charges, EMI bounce charges, penal interest, and so on.
What type of collateral is required for HDFC Working Capital Loan?
Bank offers multiple options of collateral such as your commercial, residential & industrial property or you can use liquid security as a collateral.
HDFC Working Capital Loan Customer Care Number
For any queries, complaints, and feedback regarding the working Capital Loan, you can directly call or write your queries to bank in the following ways:
1.You can directly visit HDFC Site & fill basic details to continue online chat ask your queries.
2.Call on 24/7 customer service customers can contact HDFC Bank Working Capital Loan Customer Care number 1800 258 3838 (open from 8 a.m. to 8 p.m. on all days)
3.You can contact the Bank customer care team through Email, LEA, Communication@hdfcbank.com. or SMS send quick SMS to HDFC HOME to 5676712.
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