HDFC Business Loan: Interest Rate, Eligibility & Apply Online

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HDFC Bank offers various kinds of business loans to help enterprises and traders secure funds to set up a business or to meet working capital requirements. These loans allow you to opt for loan amounts ranging up to ₹75 Lakhs.

HDFC Business Loan Interest Rates

One of the main benefits of applying for an HDFC Bank business loan is that you can enjoy lower interest rates. The interest rates on these lending facilities range from 10%, depending on various factors.

These competitive rates allow you to save significantly on the cost of borrowing, which you can channel for your business expansion and growth.

HDFC Bank Business Loan Features and Benefits

Here are a few features and benefits of availing business loans from HDFC Bank:

High loan amount

You can get a high loan amount extending up to ₹75 Lakhs. This can help you set up a new unit or meet your business’ capital requirements.

Affordable Rate of Interest

The bank also offers competitive interest rates starting from 10% p.a. Lower rates ensure that the cost of borrowing remains low.

Minimal Changes

There are no hidden charges or additional costs applicable when you opt for a business loan from HDFC Bank. This also allows you to keep your cost of borrowing at minimal levels.

Flexible loan tenure

With business loans from HDFC Bank, you can enjoy flexible tenures ranging between 12 months and 48 months.

Overdraft facility

The Online Business Loan facility of HDFC Bank also offers a unique overdraft feature of up to ₹25 Lakhs. When you avail of this facility, you do not have to provide a guarantor.

Credit Cover

HDFC Bank also provides Credit Coverage to borrowers in case of unfortunate or unforeseen incidents. For instance, the bank extends credit protection in case of the demise of the borrower.

HDFC Business Loan EMI Calculator

Loan Amount

Tenure

Rate of Interest

Your Monthly Business Loan EMI

Principle Amount

Total Interest

Total Amount Payable

Amortization Schedule

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Year	Payable Amount	Principal	Interest	Balance

HDFC Business Loan Eligibility

The eligibility criteria for different business loan offerings from HDFC Bank vary. However, there are certain basic eligibility requirements you need to meet to avail of this lending facility. These include:

Self-employed individuals, proprietorship firms, partnerships, and private firms can apply for these loans
Eligible businesses include those involved in manufacturing, trading, and services sectors

The age of the borrower must be between 21 and 65
The applicant must have a business experience of at least 5 years
The business must be in existence for at least 3 years
The business must be profitable for at least the last two years
The minimum annual revenue of your business needs to be ₹1.5 Lakhs
The businesses must also have a minimum annual turnover of ₹40 Lakhs

Documents Required for HDFC Business Loans

The documents required for availing of a business loan vary depending on the lending offer you choose. Here is a list of basic documentation you need to provide when opting for a business loan:

Proof of identity
Proof of residence
The company’s PAN Card
Sole proprietorship declaration, certified copy of partnership deed, or director-certified copy of Memorandum and Articles of Association
An original copy of the board resolution
Bank statement of the last 6 months
Income Tax Returns (ITR), Balance Sheet, and Profit and Loss Account of the last two years audited and certified by a Chartered Accountant
Proof of business continuation in the form of ITR, trade licence, establishment, or sales tax certificate

How to Apply for an HDFC Bank Business Loan

The online process to apply for an HDFC Bank business loan is quite simple. Here are the steps you need to follow:

Step 1: Visit the official HDFC Bank website and select the ‘SME’ category
Step 2: Click on the ‘Borrow’ section once you get redirected to a new page
Step 3: Choose the type of business loan for which you wish to apply
Step 4: Click on the ‘Apply Now’ button and fill in the application form with relevant information
Step 5: Select the loan amount and loan tenure
Step 6: Verify your details to complete the application process and click on the ‘Submit’ button

The bank will review your application and offer a loan if you meet the eligibility criteria set by them.

Other Bank & NBFC Offering Business Loan

Bank of India Business Loan	SBI Business Loan	Paytm Business Loan
Canara Bank Business Loan	NeoGrowth Business Loan	Bandhan Bank Business Loan
Bank of Baroda Business Loan	Credit Saison Business Loan	IndusInd Bank Business Loan
Indian Bank Business Loan	HDB Business Loan	IDBI Bank Business Loan
Kotak Mahindra Bank Business Loan	IDFC First Bank Business Loan	Yes Bank Business Loan
HSBC Bank Business Loan	ICICI Bank Business Loan	Citibank Business Loan
Prefr Business Loan	Tata Capital Business Loan

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What is the processing fee applicable to HDFC business loans?

The processing fee for a business loan from HDFC Bank is 2% of the sanctioned loan amount. A strong credit score can increase your chances of approval and may help secure better terms, such as lower processing fees.

Can I foreclose an HDFC Bank Business Loan?

Yes, you can foreclose your HDFC Bank Business Loan once you repay 6 EMIs. However, the bank charges a foreclosure fee of 4% with GST charges when you prepay the loan amount.