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HDFC Business Loan Interest Rate Oct 2019

Last Updated 07th Oct 2019

HDFC Bank Business Loan Interest Rates India

HDFC Bank offers Business Loan starting at interest rate of 15.65%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

HDFC Business Loan Features
HDFC Bank Business Loan Rate
Loan for Self Employed Features
Processing Fee Starting from 0.99%, Max 2.50%
Tenure From 12 months to 48 months
Lowest EMI per lakh ₹ 2,816
Loan Amount Min ₹ 50,000 and Max ₹ 50 Lakh
Part Prepayment, Charges Not allowed
Early Foreclosure, Charges Allowed after 12 EMI's, 2 - 4%

Dropline Overdraft to save interest

Apply for Business Loan @ 13.50%* Get upto ₹ 2,500* Cashback
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HDFC Bank Business Loan

HDFC Bank offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from HDFC Bank:

  • Dropline Overdraft to save interest
  • High loan amount upto Rs. 50 Lakh
  • No collateral or guarantor required
  • Balance transfer option available
  • Flexible tenure and easy process
  • You can foreclose your entire Business loan anytime after paying 12 EMI's at foreclosure charges - 2 - 4%
  • HDFC Bank has been rated 4.4/5.0 by customers for its service quality on MyLoanCare
  • HDFC Bank has over 4,972 branches in India where you can avail service

HDFC Bank Business Loan Interest Rate Calculator

There are multiple factors on which basis bank calculates your interest rate. Some of these factors are -

  • Loan amount: Business loan rate in HDFC Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum ₹ 50,000 to upto ₹ 50 Lakh. Interest rate for high loan amount can be lower resulting in lower EMIs.
  • CIBIL Score: HDFC Bank offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from HDFC Bank, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
  • Revenue: HDFC Bank will offer you loan at lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least ₹ 1,00,00,000.
  • Time in Business: HDFC Bank offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from HDFC Bank is 36 months.

HDFC Bank Eligibility Criteria

Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are:

Eligibility Criteria Description
Age: 21 to 65 years
Minimum Turnover ₹ 1,00,00,000
Business Existence (in months) 36 months
ITR (months) 24 months
Loan Amount ₹ 50,000 to ₹ 50 Lakh
Loan Tenure 48 months
Owned House or Place of Work Required
CIBIL Score 750 and above

HDFC Bank Business Loan Eligibility Calculator

Eligibility of Business loan in HDFC Bank relies on two important factor:

1.Your ability to repay the loan and
2.Your past track record in repayment of loans.

The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. HDFC Bank offers loan to those who are at least 21 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
  • Loan Amount: Based on the loan amount eligibility, bank gives you loan ranging from ₹ 50,000 to ₹ 50 Lakh. To improve chances of approval, apply for a loan amount that you can comfortably service.
  • Profitability and Revenue: Loan eligibility significantly depends upon profitability on your turnover, revenue and profitability. HDFC Bank requires profit for minimum 2 years and minimum business turnover of ₹ 1,00,00,000.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. HDFC Bank requires minimum business track record of 36 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get loan.
  • ITR and Banking: Bank gives loan only after checking your income tax return and bank statements. Your ITR details for minimum 24 months and bank statement for minimum 6 months will be required by HDFC Bank.
  • CIBIL Score: When checking loan eligibility, HDFC Bank will look at the complete CIBIL report. HDFC Bank will check your repayment history for all current and past loans and credit cards. Bank advise you to maintain a score of 750 and above to get loan approval.

HDFC Bank Business Loan EMI Calculator

HDFC Bank Business Loan EMI is a fixed amount that you pay each month towards the repayment of your loan till the end of tenure. Lowest EMI offered by HDFC Bank is ₹ 2,816 per lakh loan amount. EMI of HDFC Bank depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 48 months loan from HDFC Bank at an interest rate of 15.65% per annum, EMI will be ₹ 2,816 per Rs. one lakh loan amount. At an interest rate of 18.30% for the same loan, the EMI will be ₹ 2,953 .
  • Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 15.65% per annum, the EMI on HDFC Bank business loan would range from ₹ 9,057 to ₹ 2,816 for loan tenure ranging from 12 to 48 months.
  • Amount Borrowed: HDFC Bank Loan EMI will be high if you apply for a high loan amount. For amount borrowed ₹ 50,000 , the EMI at 15.65% for 48 months would be ₹ 1,408 . Similarly for amount borrowed ₹ 50 Lakh, the EMI at 15.65% for 48 months would be ₹ 1.41 Lakh.
What are the benefits of calculating business loan EMI?
  • Business loan EMI calculator of HDFC Bank helps you to calculate your monthly EMI at different rate of interest
  • HDFC Bank EMI calculator helps you to know your capacity to repay the loan after meeting your regular monthly expenses
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
Business Loan Products

HDFC Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Loan for Doctors

Description

  • Get maximum loan amount up to Rs. 50 lakhs
  • Balance transfer facility for lower EMIs
  • Golden Edge facility for high amount and high income doctors
  • Doctors can take this loan to expand business, home renovation and child's education.
  • No collateral required

Who is eligible?

  • Doctors with 4 years experience are eligible for this loan
  • Salaried, Non Salaried and BAMS/BHMS Doctors
Loan for CA/ CS and Architects

Description

  • Competitive interest rates
  • Balance transfer facility for lower EMIs
  • Fast approval and no collateral required
  • This loan is for professionals to expand business, home renovation and child's education.
  • No collateral required

Who is eligible?

  • CA with 4 years experience, CS and Architects with 5 years experience are eligible for this loan
  • Chartered Accountants, Company Secretaries and professionals doing self practice or consulting
Business Loan Dropline Overdraft

Description

  • Pay interest only on the amount utilized
  • Get facility for amount between Rs. 5 lakhs and Rs. 15 lakhs
  • Set limit in separate current account that drops every month till tenure ends
  • This is a collateral free overdraft scheme to meet your business related needs.
  • No collateral required

Who is eligible?

  • Individuals with age of 21 to 65 years whose current business is 3 years old and has total business existence of 5 years
  • Self employed individuals, Proprietors, Private Limited and Partnership Firms which are involved in the business of Manufacturing, Trading or Services
Other Charges

In addition to interest rates, business loan also carry some other charges which include:

  • Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. HDFC Bank allows prepayment of loan after paying 12 EMI’s with prepayment charges - 2 - 4%
  • Processing Fee- HDFC Bank asks for a processing fee of Starting from 0.99%, Max 2.50% with applicable service tax
Documents required
  • Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 24 months
  • Bank statement of last 6 months

Compare HDFC Bank Business Loan with other banks

FAQs on Business Loan HDFC Bank

Why to take business loan from HDFC Bank ?

Bank offers loan at 15.65% rate with the lowest EMI of ₹ 2,816 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to HDFC Bank.

What is the interest charged on HDFC Bank business loan?

Interest rates on Business loan in HDFC Bank are very attractive starting from 15.65% to 18.30%. Bank offer various offer for self employed professionals to get loan at very low rate of interest.

What is the lowest EMI per lakh on business loan from HDFC Bank ?

If you apply for loan from HDFC Bank, your lowest EMI per lakh will be ₹ 2,816 .

What is the minimum and maximum tenure of business loan in HDFC Bank?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum 48 months.

How much business loan amount I can borrow from HDFC Bank?

HDFC Bank offers you loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 50 Lakh.

What is the processing fee charged by HDFC Bank on business loan?

HDFC Bank charges a processing fee of Starting from 0.99%, Max 2.50% with applicable tax.

Is age an eligibility factor to get loan for business from HDFC Bank ?

Yes, age is an important eligibility factor to get loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.

What are the prepayment charges on business loan from HDFC Bank?

Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by HDFC Bank is 2 - 4% .

HDFC BankBusiness Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
HDFC Bank 993-590-3333
HDFC Bank 079-61606161
HDFC Bank 999-624-3333
HDFC Bank 079-61606161
HDFC Bank 022-61606161
HDFC Bank 080-61606161
HDFC Bank 1860-266-6161
HDFC Bank 987-500-3333
HDFC Bank 022-61606161
HDFC Bank 0731-6160616
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HDFC Bank 987-500-3333
HDFC Bank 0172-6160616
HDFC Bank 044-61606161
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HDFC Bank 993-590-3333
HDFC Bank 011-61606161
HDFC Bank 1860-266-6161
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HDFC Bank 079-61606161
HDFC Bank 011-61606161
HDFC Bank 989-060-3333
HDFC Bank 011-61606161
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HDFC Bank 995-719-3333
HDFC Bank 0731-6160616
HDFC Bank 040-61606161
HDFC Bank 0731-6160616
HDFC Bank 0731-6160616
HDFC Bank 0141-6160616
HDFC Bank 981-533-1111
HDFC Bank 987-500-3333
HDFC Bank 993-590-3333
HDFC Bank 999-624-3333
HDFC Bank 989-060-3333
HDFC Bank 033-61606161
HDFC Bank 987-500-3333
HDFC Bank 989-566-3333
HDFC Bank 0522-6160616
HDFC Bank 981-533-1111
HDFC Bank 984-067-3333
HDFC Bank 993-590-3333
HDFC Bank 079-61606161
HDFC Bank 981-533-1111
HDFC Bank 022-61606161
HDFC Bank 993-590-3333
HDFC Bank 989-060-3333
HDFC Bank 989-060-3333
HDFC Bank 011-61606161
HDFC Bank 011-61606161
HDFC Bank 999-624-3333
HDFC Bank 1860-266-6161
HDFC Bank 984-067-3333
HDFC Bank 022-61606161
HDFC Bank 1860-266-6161
HDFC Bank 079-61606161
HDFC Bank 1860-266-6161
HDFC Bank 999-624-3333
HDFC Bank 993-590-3333
HDFC Bank 984-067-3333
HDFC Bank 999-624-3333
HDFC Bank 999-624-3333
HDFC Bank 079-61606161
HDFC Bank 984-067-3333
HDFC Bank 987-500-3333
HDFC Bank 079-61606161
HDFC Bank 993-590-3333
HDFC Bank 994-949-3333
HDFC Bank 994-949-3333

HDFC Business Loan News - Oct 2019
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More