*Terms and conditions apply. Loan at sole discretion of HDFC Bank limited. Subject to documentation and verification as per Banks requirement.
*Terms and conditions of the insurers shall apply. The policy is offered by HDFC Ergo GIC Ltd.
Business Loan Eligibility Criteria
Our business loan eligibility criteria is applicable for self-employed individuals, proprietors, private limited companies and partnership firms.
Read the details below to know more about our business loan eligibility criteria.
The following people are eligible to apply for a Business Loan:
Business Loan Documentation
Simple and quick documentation, enabling speedy disbursals. Read more about the required documents for business loans below.
The following documents are required along with your Business Loan application:
Fee | Amount to be Paid |
---|---|
Rack interest rate | Contact for details |
Loan processing charges | Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 75000/- |
Prepayment | No pre-payment permitted until repayment of 6 EMIs |
Pre-payment charges | 07-24 Months - 4% of Principal Outstanding 25-36 Months - 3% of Principal Outstanding >36 Months - 2% of Principal Outstanding |
No Due Certificate/No Objection Certificate (NOC) | NIL |
Duplicate of No Dues Certificate/NOC | NIL |
Solvency Certificate | Not applicable |
Charges for late payment of EMI | 2% per month on EMI / Principal overdue subject to the a minimum amount of Rs. 200/- |
Charges for changing from fixed to floating rate of interest | Not applicable |
Fee | Amount to be Paid |
---|---|
Charges for changing from floating to fixed rate of interest | Not applicable |
Stamp duty & other statutory charges | As per applicable laws of the state |
Credit assessment charges | Not applicable |
Non standard repayment charges | Not applicable |
Cheque swapping charges | Rs 500/- |
Amortization Schedule charges | Rs 200/- |
Loan cancellation charges | NIL (However Inerest would be charged for the interim period between date of loan disbursement and date of loan cancellation and processing fees would be retained) |
Cheque bounce charges | Rs. 550/- per cheque bounce |
Legal/incidental charges | At actual |
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