|Loan amount||Up to Rs. 40 lakhs (Rs. 50 lakhs in select locations)|
|Tenure||12 - 48 months|
|Rate of interest||11.90% - 21.35% p.a.|
|Processing fee||Upto 2.50% of the loan amount, minimum Rs. 1,000 & maximum Rs. 25,000 for salaried customers, and Rs. 75,000 for self employed customers.|
|Prepayment charges||2% - 4% of principal outstanding|
|Minimum business turnover||Rs. 40 Lakhs|
|Age||21 - 65 years|
Here's what makes HDFC Bank Business Loan different:
Additional Info: Also, check PSB Loans in 59 Minutes is a quick business loan portal for start ups.
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HDFC Bank offers Business Loans at lucrative fixed interest rates of 11.90% to 21.35%, based on the eligibility of the borrower. For business loan balance transfer cases, interest rate starts from as low as 15.75% p.a.
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The HDFC Bank Business Loan EMI amount can be computed using the MyMoneyMantra's EMI Calculator. The Business Loan EMI Calculator lets you set parameters such as the loan amount, tenure, and interest rate to know what your monthly EMI amount comes to. To calculate your EMI for HDFC Bank Business Loan, follow the steps below:
You will get the EMI amount, Total Payable Interest and total loan payment (Principal + Interest).
This calculator provides the loan amortisation schedule as well. It gives you the year-wise breakup of your loan repayments.
Here is an example of EMI calculation using MyMoneyMantra EMI Calculator:
Loan amount required: Rs. 40 Lakhs
Applicable rate of interest: 11.90% p.a.
Repayment tenure: 4 years
EMI to be paid by you each month: Rs. 1,05,139
Total interest to be paid: Rs. 10,46,675
Total amount to be paid by you to the lender: Rs. 50,46,675
Our EMI Calculator also provides the following amortization schedule:
Amount Paid by
Interest paid during
Principal paid during
|1||Rs. 40,00,000||Rs. 1,05,139||Rs. 39,667||Rs. 65,472||Rs. 39,34,528|
|2||Rs. 39,34,528||Rs. 12,61,669||Rs. 4,23,469||Rs. 8,38,199||Rs. 30,96,328|
|3||Rs. 30,96,328||Rs. 12,61,669||Rs. 3,18,099||Rs. 9,43,569||Rs. 21,52,759|
|4||Rs. 21,52,759||Rs. 12,61,669||Rs. 1,99,483||Rs. 10,62,185||Rs. 10,90,573|
|5||Rs. 10,90,573||Rs. 11,56,530||Rs. 65,956||Rs. 10,90,573||Rs. 0|
Additional Info: Know How to open HDFC PPF Account online.
To avail HDFC Bank Business Loan, applicant should meet following eligibility criteria:
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The following documents are required when the applicant applies for an HDFC business loan online:
HDFC Bank business loan comes with following charges:
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Applying for HDFC Bank business loan through MyMoneyMantra is easy and quick, all you need to do is:
You can contact HDFC Bank Customer Care regarding any loan related query at the following Toll-Free number:
1800 266 4332
You can reach them at their following address:
82, Cyrus Avenue, Khatija Mansion, Dr AnandRao Nair Rd,
HDFC Bank's virtual assistant 'EVA' answers customer question through voice and chat-based channels. In addition to automated customer care and answering FAQs, HDFC Bank's customer care department is available round-the-clock through the toll-free number, email, Click2Talk, and Onchat messenger service.
Additional Info: HDFC Home Loan Customer Care Number
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Yes. HDFC Bank lets you transfer your existing Business Growth Loan to HDFC Bank at a lower interest rate and lower EMIs.
You can repay your HDFC Business Growth Loan within a period of 12 to 48 months.
The turnover of your business should be minimum Rs. 40 Lakhs.
HDFC Business Growth Loan comes with a processing fee of up to 2.50% of the loan amount, which is subject to a minimum Rs. 1,000 and maximum Rs. 25,000 for salaried customers and Rs. 75,000 for self-employed customers.
The prepayment can be done only after repaying 6 EMIs.
Under HDFC Business Growth Loan, you can avail up to Rs. 40 Lakhs (Rs. 50 Lakhs in select locations).
Anyone who meets the following criteria is eligible to apply for the loan: