HDFC Bank Business Loan
Based on 198 Customer Reviews
Published on: 06 Oct 2018
Based on 198 Customer Reviews
Published on: 06 Oct 2018
HDFC Bank is one of India’s leading financial institutions offering services in the areas of personal banking, corporate banking, insurance, trading, and investments. It was founded in 1994 by the Housing Development Finance Corporation. The bank has a network of over 4,000 branches and over 11,000 ATMs across the country. Their variety of products and services include wholesale banking and retail banking with bank accounts, loans, credit cards and treasury services. The Headquarter of the bank is in Mumbai and recognized as one of the topmost financial institutions.
HDFC business loans in India are introduced keeping in mind the self-employed professionals/non-professionals and private and partnership firms. Under a business loan, an entrepreneur can borrow the loan amount to use it for business growth and expansions or to fund a start-up venture. HDFC business loans have become a popular choice for many business ventures due to its simplified documentation, flexible tenures, and lower interest rates. HDFC Bank business loans are quick in processing, competitive and customized to suit each of your business needs. Afinoz.com has an exclusive collaboration with HDFC bank. So, applying for HDFC business loan with Afinoz.com makes the process of application and approval of loans from HDFC much quicker and easier. By availing the benefits of HDFC business loans with Afinoz.com, applicants may achieve their dreams to take their business to new heights of success.
Afinoz.com is India's foremost online financial marketplace for availing loans and investments. Our main objective is to make the process of getting a loan or making an investment safer, convenient and hassle-free for individuals. We work with public and private banks, NBFCs and mutual fund houses across the entire country and offer an unbiased quotation on financial products. You can contact our team to get more information or apply for a loan or investment by calling on +918795021552 or by emailing at email@example.com. Afinoz.com provides solutions which are quick, reliable, transparent, confidential and above all free.
HDFC Bank has attractive benefits from quick approval of loans, to attractive interest rates along with longer loan tenures. Quantum of business loans offered by HDFC bank to customers depend on a lot of factors (profits generated by the business in the last 3 years, amount of tax paid and occurring in ITR filed over the past 2-3 years, credit history etc.) including their requirements and repayment history. Here are some features and benefits of HDFC bank business loan:
HDFC Bank business loan eligibility and HDFC Bank business loan interest rates can be easily evaluated through and seen on Afinoz website. If there is any query about HDFC Bank business loan application, you can log on to afinoz.com or give us a call at +918795021552 or mail us at firstname.lastname@example.org and get all the solutions at one go.
Any Indian citizen having his own business and having residual income and the ability to repay the loan is eligible for HDFC Bank business loans. The other parameters that a loan seeker must satisfy in order to be eligible for getting a business loan for new business are mentioned below:
CIBIL score: Loan approval will be difficult if your CIBIL score is low. Usually, the loans that are approved have a score of 600-750. In some cases, if your credit score is low, but your business is doing good in recent times then your loan application might get approved and you might have to pay a high-interest rate and will be offered many unfavorable terms and conditions on your loan.
HDFC Bank business loan eligibility calculator: Using the business loan EMI calculator and business loan eligibility calculator at Afinoz.com you can easily calculate the exact amount of your monthly installment and your eligibility as per your potential.
The business loan entails the simplest form of documents which can be categorized broadly into two classes as: -
HDFC Bank Business Loan Interest Rates
18.30% ( Upto 40 lakhs )*
15.50% ( Above 40 lakhs )*
12 TO 60 MONTHS
2.50% of the total loan amount
Subject to a minimum of Rs 1000 and maximum of Rs.7000
No prepayment permitted until the repayment of 6 EMI’s
4% of Principal Outstanding ( 07-24 Months )
3% of Principal Outstanding (25-36 Months )
2% of Principal Outstanding (longer than36 Months)
No due certificate/ No Objection Certificate(NOC)
Duplicate No due certificate/ NOC
Late payment of EMI charges
24 % p.a on the principal amount outstanding from date of default
Special Note:*Rates are subject to periodic change. Business loan interest rates in HDFC Bank & other fees and charges are subject to regular review and can vary with each customer. HDFC Bank business loan interest rates can differ depending on your credit worthiness & other factors. The final interest rate will be based on different criteria including the bank’s internal policies & applicable rates at the time of approval.
Afinoz.com is India's leading personalized financial marketplace. We have created a business loan platform which lets you choose the best business loan that meets your requirements from the multiple options that are available to you.
HDFC Bank has an exclusive tie-up with afinoz.com. If you are looking for a business loan then you can simply log on to Afinoz.com to check your business loan eligibility and apply for a loan.
Business owners can apply for a loan in HDFC bank through Afinoz.com in the following three simple steps:
At each step of the application process, Afinoz.com allows it's applicant to keep track of the status of their application in real-time via SMS as well as through emails. Due to such simplified and fast processing, Afinoz.com has become the most popular option for many business owners.
Query-How do I know if am eligible for an HDFC business loan?
Reply-Afinoz.com provides you with an EMI calculator called business loan eligibility calculator which you can use to determine your eligibility for the loan application.
Query-How much loan amount can I avail?
Reply-You can avail an amount of Rs.50,000 to the maximum amount of Rs. 50,00,000 depending on your eligibility and your requirements.
Query-How much interest is charged by HDFC Bank on business loans?
Reply-HDFC business loan interest rates today range from 15.50% to 18.30% for self-employed professionals and private firms.
Query-What is the minimum and maximum tenure of HDFC Bank business loan?
Reply-You can repay your business loan from HDFC Bank in a period of 12 to 60 months.
Query-Is there a processing fee charged by HDFC Bank on a business loan?
Reply-Yes, a small processing fee of Rs 1000 to 7000 is charged depending on the loan amount.
Query-Is it safe to share my personal data online?
Reply-Afinoz.com is a premier financial portal which does not share any of its client data with any third party other than the concerned financial institution. All data is sent online in an encrypted format making it safe and secured at all times.
Query-How do I repay my Business loan?
Reply- You repay your loan in equal monthly installments (EMI). You can repay either by post-dated cheques or by directly debiting your EMI’s from your HDFC Bank account.
Query-What security do I need to provide to avail a Business loan?
Reply-No security or collateral is required to provide while applying for a business loan for loan amounts up to 50 lakhs.
Query-How much time does it take to get the loan approved?
Reply- If all of your documents are up-to-date and you are eligible to avail the loan, then you can expect to get the loan approved within 72 hours of loan application submission.
Query-How many days does it take to get the loan disbursal done?
Reply- HDFC Bank usually takes up to 7 business days for the disbursal of first loan payment to your account.
Query-Can I track my loan application?
Reply- You will get a unique transaction ID when you first sign up for business loan application with Afinoz.com. You can use this ID to track down your application on www.afinoz.com.In addition to the ID, we also send alerts via SMS and email to our customer’s on their registered mobile number and mail IDs informing them about the progress of their application in real-time.
For any query about HDFC Bank business loan application, you can log on to afinoz.com or give us a call at +918795021552or mail us at email@example.com.