Business Loan

For every business, funding is a key concern and a requisite for scaling up. But getting loans is not that simple, especially for small businesses. This is where HDFC Bank MyBusiness promises to support. Our financial services are aimed at helping you overcome financial constraints and realise your business goals.

To fulfil all your business endeavours; expansion, office renovation, modernisation, automation, equipment purchases, skill development, and more, you need capital. With HDFC Bank Business Loans, specially designed for MSMEs, you can provide your business with the momentum it needs and take it to newer heights. To make things convenient, we guarantee loans at reduced turnaround time for short and long term business needs.

Standout features:

• Competitive Interest Rates
• Loan up to Rs.75 Lakh
• Flexible Tenure up to 5 years
• Minimal Processing Fee
• Minimal Documentation
• No Paperwork & 10-second disbursals for pre-approved HDFC Bank customers · Check eligibility in 1 minute with our user-friendly 

Features 

Fulfil Your Every Need

Avail of a loan up to Rs.50 lakhs (up to Rs.75 lakhs in select locations) without any collateral, guarantor or security, to fulfil your every business need, from business expansion and working capital, or any other personal work.

Transfer Loan Balance with Ease

Transfer your existing Business Loan to HDFC Bank for lower EMIs, and enjoy our benefits

• Attractive Interest rates on existing loan transfer.
• Flexible tenure upto 48 months to transfer your loan balance, apply now.

Dropline Overdraft Facility

It provides Overdraft Facility without any security. Limit is set in a separate Current Account which drops monthly till the end of the tenure. Pay the interest only on the amount utilised.

• Dropline Overdraft Facility up to Rs.1 lakh - Rs.25 lakhs*
• No guarantor/ security required
• Tenure ranging from 12-48 months
• Attractive rate of interest

Quick Eligibility Check & Disbursal

Check your Business Loan eligibility online or at any branch in just 60 seconds. Loans will be disbursed based on previous repayment of Home Loans, Auto Loans and Credit Cards.

Flexible Tenure

You can repay your loan over a period of 12 to 48 months.

Credit insurance plan protects my family from the debt

Stay Protected

• Take care of your loved ones by paying a nominal premium* and covering your loan with our Credit Protect
• Protects the family by paying off the loan amount in case of death of the customer
• Life coverage – provides peace of mind
• No need to use other savings to repay the loan
• Tax benefits as per applicable laws
• One convenient package - loan + insurance
• The premium for this product will be deducted from the loan amount at the time of disbursal, after levying service taxes and applicable surcharge/cess at the rates notified by the government
•  In case of natural/accidental death of the customer, the customer/nominee can avail of the Payment Protection Insurance (Credit Protect), which insures the principle outstanding on the loan up to a maximum of the loan amount.

*Terms & Conditions of the insurers shall apply. The above product is offered by HDFC Life Ins Co. Ltd.

ELIGIBILTY

The following people are eligible to apply for a Business Loan:

• Self employed individuals, proprietors, private ltd. co. and partnership firms involved in the business of manufacturing, trading or services.

• The business should have a minimum turnover of Rs.40 lakhs

• Individuals who have been in the current business for a minimum of 3 years, with 5 years total business experience.

• Those whose business has been profit-making for the previous 2 years

• The business should have a Minimal Annual Income (ITR) of Rs.1.5 lakhs per annum

• The applicant should be at least 21 years at the time of applying for the loan, and should be not older than 65 years at the time of loan maturity.

FEES & CHARGE 

Enclosed below are HDFC Bank Business Loan Interest Rates & Charges

Senior Citizen Customers are eligible for discount of 10% on all service charges

Charges to avail a Business Loan & BL Dropline Overdraft

Government taxes and other levies as applicable will be charged over and above the Fee and Charges. Loan disbursal at the sole discretion of HDFC Bank Ltd.

DOCUMENTATION 

• The following documents are required along with your Business Loan application:
  • PAN Card – For Company/Firm/Individual
  • A copy of any of the following documents as identity proof:
    • Aadhaar Card
    • Passport
    • Voter's ID Card
    • PAN Card
    • Driving License
  • A copy of any of the following documents as address proof:
    • Aadhaar Card
    • Passport
    • Voter's ID Card
    • Driving License
  • Bank statement of the previous 6 months
  • Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited
  • Proof of continuation (ITR/Trade license/Establishment/Sales Tax Certificate)
  • Other Mandatory Documents [Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)]