Business Loan, HDFC loans are business loans and are available for small businesses and companies without regular business income, as well as for home loans.
Finance/Insurance/Real Estate Loan – Will Be 100% FSI.
a Business loan is a loan where you are borrowing money to start your own business.
The Home Loan from HDFC includes the following benefits:- Your Loan Amount is Fixed for the tenure. The interest rate is fixed for the tenure.
The tenure is fix for which you have approve the loan. The interest rate is fixed for the tenure and is not reduce prior to the tenure.
Home Loan from HDFC – Term of Loan is 3 Years.
Borrower’s option of choosing a tenure of with HDFC will be applicable for small businesses and for home loans.
Loan amount is Rs.50,00,000 – Rs.1,00,00,000. It is customizable as per the borrower’s requirements.
Flexible Loan Terms – Flexible loan term is only 3 years.
can avail the benefit of pre-payment even if the loan is not fully utilize.
Business Loan Eligibility Criteria
You should be able to meet both the income and net worth qualifications to obtain a business.
The loan eligibility criteria for small businesses is different from that of large businesses. It is important to check loan eligibility criteria before availing a loan.
Borrowers can avail with minimum Loan size of Rs.50,00,000 and maximum of Rs.1,00,00,000. The minimum credit rating is 700 and the maximum is 1,600.
The Borrower profile should be at least Up to B-grade with good occupancy ratios and at least 3 years of track record.
Borrowers can get a loan of up to 5 years and maximum of 10 years. Rs.5 lakh,000/- and up to Rs. 10 lakh,000/-. This loan is available for small business and for home loans.
The borrower qualification for a business loan is different from a home loan. It is important to check the loan eligibility criteria before availing a loan.
The borrower’s credit score should be at least 700 and should be at least in the B+ category.
Can avail of the loan without any collateral, without any further documents and without any pre-payment. Can avail of a loan of up to Rs.5,000,000/- and maximum of Rs.10,000,000/-.
The loan is not available for a tenure of less than 1 year.
I have consider the pros and cons of the loan and have decide to really avail the loan.
Business Loan Interest Rates and Fees offer by HDFC Bank
fully understand the terms and conditions of the loan and have no reservations in signing it.
Have read the loan agreement thoroughly and I have no questions, and will apply for this loan.
I am aware that this loan is unsecured loan and I am responsible for repayments.
I am pretty sure that I will be able to pay back the loan in time without any problem.
The Loan is of the tenure ranging from 1 to 5 years and APR depending upon the tenure is in the range of 15% to 22%.
Will be comfortable paying the loan amount in time and my repayment will be in the time frame.
The Loan is a unsecure loan and I am responsible for paying back the loan even with default.
What is the loan amount that can be sanction under HDFC Business Loans?
The loan sanction up to Rs.5,000,000/- and Rs.10,000,000/- can be sanction to the borrower.
We can sanction personal loan up to Rs. 3,00,000/- and home loan up to Rs. 10,000/-.
The loan amount under this scheme can be sanction up to Rs. 50,00,000.
The maximum loan amount that is sanction under HDFC Business Loans is Rs.5,00,000/-.
As per the eligibility criteria, you can avail loan only if you have a net worth of up to Rs. 1,50,00,000/- or a monthly income of up to Rs. 2,50,00,000/-.
The maximum tenure of the loan is 5 years.
Here is a small snapshot of how HDFC Bank has evolved to become the prefer choice for business and personal finance.
With HDFC Business Loans, you can easily get a personal loan for the purpose of starting your own business.
How can the borrower repay the business loan taken from HDFC?
The borrower can repay the loan amount in the time frame as per the tenure of the loan.
Under the provisions of the loan agreement, the borrower can repay the loan in two ways:- either with a loan amount of up to Rs.2,00,000/- or with a loan amount of up to Rs. 5,00,000/-.
The borrowers need to pay back the loan after a certain amount of time call the tenure of the loan.
Loan amount is calculate on your monthly Gross Monthly Income (GMI).
If the borrower is not able to repay the loan, he will have to bear an interest of 18% pa for a minimum of 5 years.
This is a bank document and it is usually not meant to be share with anyone.
Bank Limited (“HDFC Bank”) will provide you a business loan for your Small and Medium Enterprise (SME) with a minimum tenure of 3 years.
The commonly use format for the loan documents is the OFR format.
This document is a road map to help you understand what is require to get a HDFC Business Loan.
HDFC business loan is an unsecured loan for small and medium size businesses that is offer by the bank and can be a great help in starting up a small business or for a business expansion.
HDFC business loan documents
Bank loans are mainly meant to support the business growth in India. The loan is provide to the businesses base on their need.
This is one of the best sources of funding for the SMEs. This helps the small and medium-size businesses to get loans without a hassle. This scheme has made it easier for the entrepreneurs to avail loans at cheaper rates.
This scheme is primarily aimed at small and medium size businesses whose net worth is less than Rs.10,000,000.
Documents required:- This is a document that is require to get a HDFC Business Loan. Certain documents are require depending on the loan amount sanctioned.
The eligibility criteria for HDFC Business Loan is as follows:-
Business Loans are unsecured loans and hence anyone with a valid bank account.
If you have a net worth of up to Rs 1,50,00,000/- or a monthly income of up to Rs 2,50,00,000/-, you are eligible to avail a loan.
HDFC business loan eligibility
All borrowers regardless of whether the borrower is a small business, a medium business, or a large business must submit the following documents to apply for a business loan from HDFC Bank Limited.
Applicant must be a resident of India and account for at least 50% of the total loan amount.
HDFC business loan interest rate
Interest rate for HDFC Business Loan is 18% p.a. The tenure of the loan is 3 years.
The rate of interest will be 18% pa for the loan tenure of minimum 3 years.
The interest rate on an HDFC Bank loan is 18%. The bank charges interest on a maximum of 2.5% of the amount of loan.
Marginal cost of funds is very low, at 0.75% p.a.
The minimum age of the applicant is 21 years. The borrower must ensure that his/her age falls within this limit.
The loan amount sanction will be between Rs 50,00,000 and Rs 1,50,00,000 and the loan tenure will be of 3 years.
The loan amount for an HDFC Bank loan is on the lower side when compared to similar products.
HDFC business loan status
Banks are highly reluctant to approve business loan since they are being compel to give loans to all applicants, irrespective of their credit history and risk profile. Banks are reluctant to approve business loan because banks are being compel to give loans to all applicants, irrespective of their credit history and risk profile. Bank has also been accuse of pressuring applicants to declare themselves as not eligible and of having recourse to the loan.
Banks are reluctant to approve business loans because of the high interest rates charge by banks.
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