When you decide to do your own business with some dreams and lots of desires. but most of the time these desires lots due to finance. Any Business needs liquidity and a good plan to start any Business but not able to arrange funds. Here is the way to get an HDFC bank professional loan to Expand your business and services. If you are a Docter, photographer, charted accountant or any kind of professional can avail for Professional loan.
Features and benefits of Professional Loan
Features
- Get up to ? 20 lakhs
- No collateral required
- Instant approval
- Expand your business
Benefits
- Repay loans in easy instalments
- Loan tenure is 12-60 months based on your needs
- Easy EMI options
Types of HDFC Professional Loan
HDFC offers the two Types of professional loan;
Professional Loan for doctors:-If you have completed your M.B.B.S and want to start your hospital, clinic, and medical and required funds for it. Get professional loan from HDFC with hassle free process and speedy approval.
Professional Loan for a charted accountant:-You need funds to start your practices get a loan up to 20 lakhs
HDFC Professional Loan Interest Rate and Loan amount
| Interest rate | 10.25% onwards |
| Loan Amount | Up to Rs. 40 Lakh |
| Eligibility Age |
Minimum 21 years at time of applying |
|
Maximum 60 years at loan maturity |
|
| Eligible Income | Minimum Rs. 30,000 p.m. |
| Loan Tenure | 12 to 60 months |
Also Read:-Tata Capital Personal Loan Interest Rate
Other charges on HDFC Professional Loan
| Cheque swapping charges | Rs 500/- |
| Pre-payment charges |
Different charges as per your loan tenure:
|
| Cheque bounce charges | Rs. 550/- per cheque bounce |
| Processing Fees | Up to 2.5% |
| Stamp duty | As per applicable laws |
HDFC Professional Loan Eligibility
The eligibility criteria can differ from bank to bank that’s why before applying for HDFC bank professional loan check your eligibility by using HDFC bank eligibility calculator.
- Any Docter, architecture, CA, photographer, proprietor, self-employed individuals, private Ltd, and partnership firm 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 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.
HDFC Professional Loan documents
- Need passport size photographs for 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 ownership, address, vintage and established proofs etc.
- Identity proof of your applicant, director and partner
- Any other document required by HDFC bank
How to apply for HDFC Professional Loan?
An applicant can apply for a professional loan physically and online according to your suitability. If you are applying physically then you need to visit the HDFC branch and request the application form fill it and attach required documents.
If you are thinking apply HDFC bank professional loan online with comforts at your home and office. Then you need to follow given mention simple steps:
1.Borrower need to visit the official website of HDFC bank.
2.Where you will find the application form just simply click on that and fill it with your personal and professional details
- At the last of application form you need to specify your loan details like loan amount,loan tenure and EMIs
- If,your loan application assessed by HDFC bankofficer and get it approved
- 5.Once your request hasbeen accepted loan amount will get credited to your account within a day.
HDFC Professional Loan FAQ
Is there any need of security to avail for HDFC Professional Loan?
No, need of any collateral for HDFC bank professional loan.
How can I repay my HDFC Professional Loan EMIs?
You can pay your HDFC bank professional loan EMI in 3 ways.
- Standing Instruction (SI)
- Electronic Clearing Service (ECS)
- Post-Dated Cheques (PDCs)
What happened if I am not able to pay my EMIs on time?
The bank will charge ECS bounce penalties & other additional charges on your loan. It will also affect your cibil score, bank can take some legal actions against borrower.
What is the minimum cibil required for HDFC Professional Loan?
Your cibil score should be more than750 then only you can avail for professional loan.
What are the other charges charged by HDFC Professional Loan?
Exclusive to the interest rate bank charges some other charges such as processing fee, cheque bounce charge & pre-payment charges.
HDFC Professional Loan customer care number
Do you want to solve your Quires regarding the HDFC Professional loan?
Call on HDFC toll free number 1800 258 3838
Visit the HDFC website and fill basic details and start chat online
Write your quires and complaints and send it on this email LEA.Communication@hdfc bank.com or you can SMS your quires on HDFC HOME to 5676712
Apply Now:-Business Loan
9863-02-02-02