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HDFC Business Loan Jul 2021

HDFC Business Loan Interest Rates India

Last Updated 14th Jul 2021

HDFC Bank business loan interest rate starts at 11.90%, with interest rate varying based on the loan amount, occupation and type of loan availed. Processing Fee on HDFC business loan is in the range of ₹ 499. Check Best Offers

Interest Rate 11.90%
Processing Fee ₹ 499
Tenure From 12 months to 48 months
Lowest EMI per lakh ₹ 2,628
Loan Amount Min ₹ 50,000 and Max ₹ 50 Lakh
Part Payment Facility Not allowed
Foreclosure Facility Allowed after 12 EMI's, 2 - 4%

Dropline Overdraft to save interest

Apply for Business Loan @ 14.00%*

HDFC Business Loan Details

HDFC Bank offers multiple business loan products for self-employed professionals and non-professionals at low rates. Below-mentioned are the details of the business loan HDFC Bank.

Key Features of HDFC Business Loans

What are the Features and Benefits of HDFC Business Loan?

You can apply for HDFC business loan to expand your business or for working capital requirements such as purchasing machinery, paying salaries etc. Some of the benefits and features that HDFC business loans offer to the borrowers are listed as follows:

  • 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

Factors affecting HDFC Business Loan Rates

There are multiple factors on which HDFC 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 amounts can be lower resulting in lower EMIs.

CIBIL Score

HDFC Bank offers business loans at higher interest rate if your CIBIL score is low or vice versa. However, to get a loan from HDFC Bank, your CIBIL score should be at least 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.

Revenue

HDFC Bank will offer you a loan at a 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 loans at lower rates if you have significant business experience. Minimum business existence to get a business loan from HDFC Bank is 36 months.

Lowest HDFC Bank Business Loan Interest Rates

With effect from 14 Jul, 2021, HDFC Bank offers business loans starting at 11.90%. The lowest business loan rates offered by HDFC Bank have been dropped by 2.1%, from the earlier rate of 14.00%.

HDFC Bank Business Loan Rate Trends of Last 1 Year

Last Updated Date Interest Rates
14 Jul, 2021 11.90%
08 Jun, 2021 11.90%
01 Jun, 2021 14.00%
31 May, 2021 14.00%
31 Mar, 2021 15.65%
25 Mar, 2021 15.65%

HDFC Business Loan Eligibility Criteria

To avail HDFC Bank business loan, you need to fulfill the eligibility criteria as mentioned below:

  • Age : HDFC Bank offers business 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, HDFC Bank gives you loan amount 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 : HDFC Bank requires profit for minimum 2 years and minimum business turnover of ₹ 1,00,00,000.
  • Business Stability : HDFC Bank requires a 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 a loan.
  • ITR and Banking : HDFC Bank gives loan only after checking your income tax return and bank statements. The bank requires you to submit your ITR details and bank statements for a minimum of 24 months & 6 months respectively.
  • CIBIL Score : HDFC Bank will check your repayment history for all current and past loans and credit cards. The Bank advises you to maintain a score of 750 and above to get loan approval.

HDFC Bank 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:

Business Loan for Self Employed Individuals
  • HDFC Bank offers collateral-free business loan for self-employed Individuals.
  • The product offers benefits like overdraft facility, flexible tenure options and loan balance transfer.
  • The loan amount may range up to Rs 50 lakhs.
Loan for Business Expansion
  • HDFC Bank offers loan for business expansion for up to five years with easy repayment options.
Loan for Doctors
  • Get maximum loan amount up to ₹ 50 lakhs
  • Balance transfer facility for lower EMIs
  • Golden Edge facility for high amount and high income doctors
Loan for CA/ CS and Architects
  • Competitive interest rates
  • Balance transfer facility for lower EMIs
  • Fast approval and no collateral required
Business Loan Dropline Overdraft
  • Pay interest only on the amount utilized
  • Get facility for amount between ₹ 5 lakhs and ₹ 15 lakhs
  • Set limit in separate current account that drops every month till tenure ends

HDFC Bank Business Loan Fees and 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 ₹ 499 with applicable service tax

Documents Required for HDFC Business Loan

To apply for HDFC business loan, you need to submit the following documents:

  • 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

HDFC Business Loan Eligibility Calculator

You can calculate your eligibility for HDFC Bank business loan using an online HDFC business loan eligibility calculator. It is an online tool that gives you an estimate about your loan eligibility, amount of loan and the best interest rate offer you can avail. It calculates the business loan eligibility on multiple factors. These factors include age, loan amount, loan tenure and Income etc. to calculate the loan amount eligibility of its borrowers.

How to Apply HDFC Bank Business Loan Online at MyLoanCare?

  • In order to get the best offers on a business loan and compare HDFC business loans with other banks, you can apply online through MyLoanCare here.  
  • MyLoanCare will give you a detailed comparison of business loan schemes of all banks, calculate your business loan eligibility and connect you to the customer representatives of the  HDFC Bank.
  • Further, you will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting a loan is smooth, convenient and quick.

FAQs

Why to take business loan from HDFC Bank?

HDFC Bank is one of the largest Private Bank sector banks in the country that provides lowest business loans starting at 11.90%. The bank also charges a low processing fee starting from ₹ 499. Along with that, the bank also offers special business loan schemes such as Business Loan for Self Employed Individuals, Loan for Business Expansion & Loan for Doctors etc.

Has HDFC Bank reduced the business loan interest rate?

HDFC Bankhas reduced the lowest interest on business loan as effective from 14 Jul, 2021. Presently, HDFC Bank offers the business loan starting at 11.90%, which is a decrease of 2.1% from the previous rates of 11.90%. Earlier, HDFC Bank changed its gold loan rate on 01 06, 2021.

What is the interest charged on HDFC Bank business loan?

HDFC Bank offers business loans at attractive rates ranging from 11.90% to 21.35%.The bank also provides various customised offers for self employed professionals to get loan at a 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 ₹ 2,628.You can calculate your EMI on business loan for different tenures at min business rate starting at 11.90% using MyLoanCare business loan EMI calculator.

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 business loan for loan amount ranging from ₹ 50,000 to a maximum amount of ₹ 50 Lakh. Loan amount eligibility in HDFC further depends upon your income, and repayment capability.

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

HDFC Bank charges a processing fee ₹ 499 with applicable tax.The processing can be negotiated if you are an existing customer or have a good track record.

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

Yes, age is an important eligibility factor to get a business 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 prepayment 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%.

What are the business products offered by HDFC Bank?

HDFC Bank offers various business products for self-employed professionals and non-professionals. These are listed below:

  • Business Loan for Self Employed Individuals
  • Loan for Business Expansion
  • Loan for Doctors
  • Loan for CA/ CS and Architects
  • Business Loan Dropline Overdraft

What is the time period of repayment of business loans in HDFC Bank?

HDFC Bank provides business loans for a maximum tenure of 48 years. You must repay your loan at the end of this loan tenure to avoid any late payment penalty.

HDFC Bank Business Loan Customer Care Toll Free Number
City Customer Care Number
Agra 993-590-3333
Ahmedabad 079-61606161
Ambala 999-624-3333
Anand 079-61606161
Aurangabad Bihar 022-61606161

HDFC Bank Business Loan Reviews 4.5/5  by 10 customers
MyLoanCare Service
4.5/5.0
Banks Service
4.5/5.0
Nilesh Agarwal, Pune
Reviewed on 03rd Feb 2020
5 / 5 stars
HDFC Bank Business Loan Availed in Jan 2020

It was a hassle-free process and there were good followups and detailed information about the producRead more...

Ankit patel , Mehsana
Reviewed on 25th Jun 2019
5 / 5 stars
HDFC Bank Business Loan Availed in Jun 2019

Thanks. Good service as I expected. I am very happy.
Read more...

BAJARANG LAL, Delhi
Reviewed on 14th Jun 2019
4.5 / 5 stars
HDFC Bank Business Loan Availed in Jun 2019

It is a good and smooth mechanism established by MyLoanCare.in to connect the Bankers and the CustomRead more...

Kishor Dholakia, Mumbai
Reviewed on 03rd May 2019
4 / 5 stars
HDFC Bank Business Loan Availed in Apr 2019

Prompt service, less documentation and fastest disbursement. Thanks.Read more...

RAJAT MAHESHWARI,
Reviewed on 24th Oct 2018
5 / 5 stars
HDFC Bank Business Loan Availed in Aug 2018

VERY GOOD SERVICES AND SUPPORT STAFF OF MYLOANCARE AND EVEN CO-OPERATIVE AFTER DISBURSEMENT.Read more...

Aditya Pandey, Indore
Reviewed on 30th Jul 2018
5 / 5 stars
HDFC Bank Business Loan Availed in Jul 2018

Conversing and sharing the details with Mr Ankur is excellent. Over all my loan experience with MyloRead more...

hibond petroleum, Rajkot
Reviewed on 16th Mar 2018
5 / 5 stars
HDFC Bank Business Loan Availed in Mar 2018

Experience with Mafi Devi is very good and I am 100% satisfied with Mafi Devi and MyLoanCare workRead more...

Suresh gamare, Mumbai
Reviewed on 05th Apr 2016
4 / 5 stars
HDFC Bank Business Loan Availed in Mar-17

excellent and fast loan proessing with no hidden chargesRead more...

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HDFC Bank Business Loan News - Jul 2021
  • 2021-07-08 : HDFC Bank loan growth hit amidst covid-19 pandemic
    Private lender HDFC Bank numbers for the June quarter showed loan growth moderation and contraction in its retail credit book. The bank slowed its retail disbursements which were down 30% sequentially, reflecting the impact of the second Covid wave. The continued weakness in the retail segment led to retail segment share in total loans that include Personal Loan, Home Loan, Loan Against Property, Business Loan, Gold Loan, Two-wheeler Loan, Car Loan, Education Loan and Top-up Loan slipping down to 45% from 47% in June quarter last year.
  • 2021-05-28 : HDFC Bank commits Rs 100 cr towards COVID relief in FY22
    HDFC Bank committed Rs 100 crore for setting up medical infrastructure for COVID-19 relief in 2021-22. The bank is planning to set up 20 oxygen plants in hospitals besides three 100-bed COVID care facilities as part of the plan.
  • 2021-04-19 : HDFC Bank Q4 net profit rises 18% YoY to Rs 8,186.5 crore
    In Q3FY21, HDFC Bank had reported a net profit of Rs 8,758.3 crore and an operating profit of Rs 15,186 crore. The bank advances which include home, LAP, personal, two-wheeler, car, gold, education and doctor loan along with business and mudra loans aggregated to Rs 11,320 billion. Further, The bank’s deposits which include fixed and recurring deposits grew 16.3% at approximately Rs 13,350 billion as of March 31, 2021, as compared to Rs 11,475 billion year-on-year (YoY).
  • 2021-03-22 : HDFC Bank’s MSME book grows 30% to cross ₹2-lakh cr
    HDFC Bank’s MSME book grew 30% year-on-year to cross the ₹2-lakh-crore-mark as of December-end. It was mainly boosted by the pandemic-induced ECLG scheme under which the bank disbursed over ₹23,000 crore. The Bank clarified that the growth is also driven by a renewed push towards customers in semi-urban and rural areas.
  • 2021-02-12 : HDFC Bank leads in Covid-19 scheme loans
    HDFC Bank is leading in disbursements under the Emergency Credit Line Guarantee Scheme. The scheme was introduced by the government as a part of the Covid relief package. It involved a government guarantee for additional loans, up to Rs 3 lakh crore, extended to businesses facing stress due to the Covid pandemic.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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