✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now! Apply Now

HDB Financial Services (HDBFS), a subsidiary of HDFC Bank, is one of the top Non-Banking Finance Companies (NBFCs) in the country, providing a range of loan offerings. HDBFS ranks among the best business loan providers. The HDB business loan provides a viable credit solution to self-employed professionals and individuals. Also, this business loan comes with some attractive benefits and unique advantages. This unsecured HDB Finance business loan comes with a high credit limit and flexible repayment tenures. What’s more, the loan application process is easy and doesn’t require cumbersome paperwork. 

 

Now, irrespective of your need to fund your business - from renovating your office to purchasing the latest machinery, and from meeting your working capital requirements to exploring additional avenues for expansion - you can apply for the HDB business loan on Bajaj Markets. 

 

Features and Benefits of HDB Business Loan

  • Affordable rates of interest

This HDB loan for business can be availed at affordable rates of interest, starting from 16% onwards. As compared to business loans by other financial institutions, the interest rate is reasonable and competitive. Remember, the applicable rate of interest will depend on factors such as the total loan amount and your individual profile. If you are looking for customised business loans at attractive rates of interest, your search ends here. Apply today for the HDBFS business loan on Bajaj Markets!

  • No collateral required

The HDB business loan, available on Bajaj Markets, is essentially an unsecured loan. This means that you don’t need to pledge any collateral. Just fulfil the eligibility conditions, provide the required documents and simply avail of the loan to meet your multiple business requirements. 

  • High loan amount

Making an HDB Finance business loan application at the platform of Bajaj Markets can provide you access to funds up to Rs. 20 Lakhs. And a high loan amount can give you the edge to remain a step ahead of your business competitors. 

  • Flexible repayment tenures

Once you avail of this loan on Bajaj Markets, you can repay it according to your convenience. This HDB loan for business can be repaid in flexible tenures between 12 months and 60 months. 

  • Easy documentation process

The HDB business loan requires basic documentation to establish the identity and income of self-employed individuals/ professionals and business entities. 

  • Quick approval and disbursal

Once you have applied for the  HDB Finance business loan, it could be approved in 2 minutes, provided your application details are in order. Post-approval, the loan amount can be disbursed in as few as two days. To receive access to the benefit of speedy disbursal, apply for this loan on Bajaj Markets!

How to Apply for HDBFS Business Loan

Here’s a step-by-step guide on how to apply for the HDB Finance business loan at the platform of Bajaj Markets:

  • Online Form Filling

As the first step for making a business loan application on Bajaj Markets, you have to fill the online loan application form. Here, you are required to provide basic details, including your name, age, income, occupation etc. Do remember to fill the online form yourself with due diligence.

  • Specify Business Loan Details

The second step to avail the HDB Business Loan on Bajaj Markets involves specifying the details of your business loan. Select HDB from the list of offers. After that, mention the total loan amount and your preferred repayment tenure. Do remember to read the eligibility conditions carefully and submit/upload the stipulated list of documents. 

  • Approval and Disbursal

Once you have submitted the business loan application via Bajaj Markets, you can expect the loan amount to be disbursed within 2 days. An HDBFS representative can inform you about your loan status, or you can use the loan application number to check the loan status yourself. Remember, the HDB loan for business is equipped with the twin features of fast approval and speedy disbursal. 

HDB Business Loan: Eligibility & Documents

Eligibility Criteria

  • The applicant must be at least 22 years old at the time of application.

  • The applicant must not be above 65 years at the time of loan maturity. (Terms and Conditions Apply).

  • The minimum annual income of the applicant must be Rs. 1,00,000, if living in a metro city and Rs. 75,000, if living in a non-metro city.

  • Minimum business experience of 4 years is required, with at least 2 years in the same business.

Documents Required

  • Proof of Identity & Address Proof: Passport / Voters ID / Driving License/PAN Card* of the Proprietorship Firm and Proprietor/Aadhaar Card or Proof of possession of Aadhaar number(on Voluntary basis) /Photo/Driving License/ Voter ID/ Utility Bill (anyone which is not more than two months old of any service provider - electricity, telephone, post-paid mobile phone, piped gas, water bill)/Registered Rental AgreementLetter of allotment of accommodation from employer/ leave and license agreements with employers allotting official accommodation/Registration Certificate.

  • Date of Birth Proof: Driving License / Pan Card / Passport Copy / Birth Certificate / 10th / 12th mark sheet bearing date of birth

  • Bank Statements: Latest statements / Bank passbook (updated within 90 days)

  • Latest ITR along with computation of income, B/S & P&L a/c for the last 2 years certified by a CA

  • Proof of continuation:  Trade license /Establishment /Sales Tax certificate

  • Other Mandatory Documents - For the Proprietorship Concern any two of the following documents should be obtained(Registration certificate, Certificate/license issued by the municipal authorities under Shop and Establishment Act, Sales and income tax returns, CST/VAT/ GST certificate (provisional/final), Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities, IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT/ Licence/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute, Complete Income Tax Return (not just the acknowledgment) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax authorities, Utility bills such as electricity, water, and landline telephone bills.)

HDB Business Loan Interest Rate & Charges

Read on to know all about the HDB Finance business loan interest rate and charges. You must keep in mind that an additional GST can be applied on these charges:

Particulars

HDB Business Loan

Interest rate

16% to 24% per annum.

Processing fees

2% of the loan amount.

Tenure

Between 12 and 60 months

Loan amount

Up to Rs. 20 Lakhs.

DISCLAIMER

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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Frequently Asked Questions on HDB Business Loan

How do I contact HDB?

You can contact customer care on the phone number:044-42984541. For queries or complaints, visit the link: https://www.hdbfs.com/escalation-form

 

How do I cancel an HDB loan?

Once the HDB loan is disbursed, you have to submit a loan cancellation request to the requisite HDBFS branch within 7 days. You will also be required to pay loan cancellation charges.

 

Is HDB under RBI?

Yes, HDBFS is an RBI-approved NBFC.

 

What happens if I don’t pay my HDB loan?

Depending upon the period of non-payment, you will have to pay a late fine along with other charges such as a penal interest rate. Non-payment of HDB loan will also have a negative impact on your CIBIL score. 

 

What is the interest rate of HDBFS?

The interest rate on an HDB business loan can start from 16% onwards.

 

What is the eligibility criteria of HDBFS?

You are required to fulfil the minimum stipulations for age, income and profession/occupation. There are different HDB loan eligibility conditions for different categories of applicants. 

 

How do I repay my HDB loan?

You can repay your HDB loan by issuing standing instructions to your bank. Alternatively, you can transfer the EMI amounts regularly using bank transfers and other digital modes of payment. You can also make cheque payments.

How do I get a loan from HDB?

You can make an HDB loan application at the platform of Bajaj Markets. 

 

Does HDB check the CIBIL score?

Yes, the CIBIL score plays a key role in the approval of your HDB Finance business loan application.

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