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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.

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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

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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. 

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 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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FAQs on the HDFC Bank Business Loan

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.

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.

Can restaurant businesses get credit from HDFC Bank?

Yes, the HDFC Bank provides collateral-free loans of up to ₹75 Lakhs to restaurant businesses. 

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