How to Apply for the HDFC Business Loan?
You must submit the following list of documents while applying for HDFC Business Loan:
✔️PAN Card – Company/Company/Individual
A copy of any one of the following documents as proof of identity:
✔️Aadhaar Card
✔️Passport
✔️Voter Card
✔️PAN Card
✔️Driver’s license
A copy of any one of the following documents as proof of address:
✔️Aadhaar Card
✔️Passport
✔️Voter Card
✔️Driver’s license
✔️Latest ITR, Revenue calculations, Balance Sheet and Profit of last 2 years after certification/audit by CA and
✔️Proof of Continuity (ITR/Business License/Establishment/Sales Tax Certificate)
✔️Other mandatory documents [single statement of offer or certified copy of partnership agreement, certified copy of memorandum and articles of association (certified by the director) and board resolution (original).
Applicable Rates and Fees HDFC Business Loan:
Before learning how to apply for the HDFC Business Loan you should learn about the interest rates. HDFC Business Loan offers competitive interest rates ranging from a minimum of 10.00% to a maximum of 22.50%. Processing fee for the loan is up to 2.00% of the loan amount or nil, subject to pre-approval URC deposit by micro and small enterprises availing profits up to ₹5 lakh.
Partial or full refund is allowed up to 6 EMIs, Partial or full refund is not allowed up to 12 EMIs, Partial repayment up to 25% of the outstanding principal is allowed after 12 EMIs, allowed only once in a financial year and twice during the loan tenure.
Demand varies across 06-24 months – 4% of principal outstanding, 25-36 months – 3%, and >36 months – 2%, facilitating repayment of up to ₹50 lakh by micro and small enterprises and self-sources. Closing letter for void, duplicate loan closing letter for solvency, and no applicability of certificates.