HSBC Business Loan Features
| HSBC Business Loan Interest Rate | 13% onwards |
| HSBC Business Loan Processing Charges |
Up to 2.50% of the loan amount (Min. Rs. 2,359 – Max. Rs. 88,500)
|
| Loan Amount |
Max up to Rs. 75 lakh
|
| Prepayment Charges |
07-24 Months – 4% of Principal Outstanding Amount
25-36 Months – 3% of Principal Outstanding Amount More than 36 Months – 2% of Principal Outstanding Amount |
| Repayment Period | 12 – 48 months |
| Prepayment Condition |
No pre-payment permitted until repayment of 6 EMIs
|
| Collateral | Not required |
| Tenure | 15 years |
| Lowest EMI per lac | ₹ 1,062 per lakh |
- Business Credit Loan Amount: Business Credit is available up to Rs. 75 lakh.
- Rate of interest: A business loan works similarly to an overdraft facility and is available as a limit on your current account. The interest rate is charged only on the amount utilized.
- Re-payment: The minimum amount due every month is 5% of the outstanding balance. This can be withdrawn in the next month after the deduction of interest.
- Documentation: One-time easy submission of the documents is required under the Business loan
Interest Rate, Fees, and Charges (Self Emp Non-Professional)
| Facility | Charges |
| Interest Rate Charges | 15.65% – 21.20% |
| Loan Processing Charges | Up to 2.50% + GST as applicable |
| 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 no due certificate / NOC | NIL |
| Solvency Certificate | Not applicable |
| Charges for late payment of EMI | @ 24% p.a. |
| Charges for changing from fixed to floating rate of interest | Not applicable |
| Charges for changing from floating to a fixed rate of interest | Not applicable |
| Stamp Duty & other statutory charges | As per applicable laws of the state |
| Credit assessment charges | Not applicable |
| Nonstandard repayment charges | Not applicable |
| Cheque swapping charges | ₹ 500/- |
| Amortization Schedule charges | ₹ 200/- |
| Loan cancellation charges | NIL (However Interest would be charged for the interim period between the date of loan disbursement and date of loan cancellation and processing fees would be retained) |
| Cheque Bounce Charges | ₹ 550/- per cheque bounce |
| Legal / incidental charges | At actual |
| CIBIL Report Copy Charges | ₹ 50 Per Copy |
Advantages of HSBC Business Loan
- No minimum balance requirement for CEP accounts receiving salary credit
- Unlimited free ATM transactions at HSBC and other bank VISA ATMs in India
- No charges on NEFT/RTGS transactions and demand drafts
- A waiver on annual debit card fees
- Reimbursement account – a separate current account for seamless reimbursement management
- Staff assisted digital account opening with Instant Welcome Packs (IWP)
- Multiple credit card offerings
- Preferential rates on Personal and Home Loans
- Internet Banking, HSBC Mobile Banking, HSBC SimplyPay UPI App, Online utility bill payment facility, etc
HSBC Business Credit Loan Eligibility
| Eligibility factors | Eligibility criteria |
| Age of the Applicant | Min: 21 years and Maximum: 65 years. (At time of Loan Maturity) |
| Status of Business | Min. 3 Years with 5 years of experience |
| ITR (Income Tax Returns) | Min. Rs. 1.5 Lakhs per annum |
| Business Turnover | Min. Rs. 40 lakhs |
| Entities that can avail of business loan | Self-employed professionals, Sole Proprietorship, Private Ltd. Companies, and Partnership Firms engaged in the Manufacturing, Trading or Services sectors. |
HSBC Business Loan Documents Required
- Identity proof – Voter ID card / Passport / Driving License/ PAN Card and MAPIN card
- Proof of Residence – Passport /Ration card /Electricity Bill/ Lease Agreement /Sales Tax certificate/Trade licence
- Copy of Bank Statement
- Latest ITR and statement of computation of Income for the last 2 yrs.
- Proof of continuity of business
- Other Mandatory Documents that are Sole Proprietorship Declaration, Certified copy of Memorandum & Articles of Association certified by a director
- Original Board resolution (If Pvt ltd Co. Then Partnership Authorization Letter/ co-borrower if partnership firm just a co-borrower
- Financials audited/ certified by a CA
List of Common Documents
- Application form with the applicant’s signature and photograph.
- Valid Proof for Identity: Passport /Ration card /electricity Bill/ Lease agreement / Sales Tax certificate/Trade licence
- Residence Proof: Ration card Tel/ Lease agreement/ Electricity Bill/ Passport/Trade license /Sales Tax certificate
- Age Proof: Passport, PAN card, Voter’s identity card
- Financial Documents: Copy of IT returns for the last two years and the latest Bank statements for 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A.
- a. Self Employed (Private Ltd. Co. and Partnership Firms): Copies of IT returns for the last two years and Profit and Loss balance sheet for the last two years audited by a C.A
- b. Self Employed Individuals – Professionals: Copies of IT returns for the last two years and Bank statements for the last 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A
- c. Self Employed Individuals – Non-Professionals: Profit and Loss balance sheet for the last two years audited by a C. A and the Copies of IT returns for the last two years.
Self Employed (Private Ltd. Co. and Partnership Firms)
- Identity proof of private limited company: PAN ID /VAT /Service tax / Sales tax /Excise registration, / IT return of the concern/ Electricity bill /Water bill/ Registration under Shops and Establishment Act/Municipal tax bill in the name of the concern, Articles of Association and Memorandum
- Proof of identity to be submitted for the authorized signatories (2 Directors which includes the managing director) (any one of the following): PAN card, Voter’s identity card, Passport, and Driving license
Self Employed Individuals – Professionals
- Identity Proof of sole proprietorship
- PAN ID / IT return of the concern or Municipal tax, Water bill, and electricity bill in the name of the concern
- The identity proof to be submitted for the sole proprietor: Passport, Voter’s identity card, Driving license, PAN card,
- Address Proof for the Sole Proprietor: Driving license, Voter’s identity card, Ration card, Passport
Self Employed Individuals – Non Professionals:
- Identity proof of the sole proprietorship
- Individual identity proof
- Income tax returns a minimum of 3 years
- Sales tax returns a minimum of 3 years
- Copy of periodic stock, age-wise book-debt and creditors-statement for latest three months
- Copy of bank statement of main banker/copy of bank statement for the term loan for last months
It is mandatory to fill in the Business Loan Application form, irrespective of which business loan you are looking for, without the application the loan will not be processed.
Business Loan EMI Calculator for HSBC
HSBC Bank business loan EMI per ₹ 1 Lakh is ₹ 815, which is one of the lowest EMI offered by banks. Business loan EMI in HSBC Bank is calculated based on the loan amount, loan tenure, and interest rate.
| Loan Amount | 10 Year Loan | 15 Year Loan | 25 Year Loan |
|---|---|---|---|
| ₹ 20 Lakh | ₹ 24,958 | ₹ 19,871 | ₹ 16,307 |
| ₹ 30 Lakh | ₹ 37,437 | ₹ 29,807 | ₹ 24,461 |
| ₹ 50 Lakh | ₹ 62,395 | ₹ 49,678 | ₹ 40,768 |
Purpose of Business Loan from HSBC
Be it for self-store development, paying off past commitments, extending your business reach, or upgrading your monetary record – we’ll make accomplishing your business objectives simpler. Gain admittance to a wide scope of long and transient credits intended to meet the particular subsidizing prerequisites, everything being equal, and sizes of associations. Look over a scope of loaning and credit arrangements and acquire working capital alongside help from our specialists to quicken your business growth.
Also? Our exchange and receivables money arrangements can assist you with opening subsidizes caught in stock or receivables to keep the graceful chain – and your business – pushing ahead. Added to this is a full scope of business banking administrations planned explicitly to assist you with overseeing approaching and active money all the more effectively over your association.
EMIs of Several Banks and NBFCs for Different Tenures
EMI for different Business Loan amounts and tenures @ 8.65% interest rate
| Total Loan Amount | Loan Tenure | ||
|---|---|---|---|
| Loan Amount (Rs.) | 10 years | 15 years | 25 years |
| 2,500,000 | ₹ 31,197 | ₹ 24,839 | 20,384 |
| 5,000,000 | ₹ 62,395 | ₹ 49,678 | 40,768 |
| 7,500,000 | ₹ 93,592 | ₹ 74,516 | 61,152 |
| 10,000,000 | ₹ 1.25 Lakh | ₹ 99,355 | 81,536 |
Why should you apply for HSBC Business Loan at Dialabank
If you’re one of them those who’re looking for a business Loan then instead of visiting a different bank, step ahead to a Business Loan from Dialabank. Being a client here you will come to know how best the loan type would match your suitable.
Honestly, today no one has enough time to gather heavy information from different banks and lenders. Our Fintech platform will save you time and money. If services you’re getting grips no quality and satisfaction then for sure you won’t visit that particular platform again. The professionals at Dialabank understand the customer’s value and time. Before applying for a Business Loan let us give you a chance to provide you with a better guideline.
How to calculate EMI for HSBC Business Loans?
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 3,00,000 | 11.29% | 1 | ₹ 26,555 | ₹ 18,661 | ₹ 3,18,661 |
| ₹ 3,00,000 | 11.29% | 2 | ₹ 14,023 | ₹ 36,547 | ₹ 3,36,547 |
| ₹ 3,00,000 | 11.29% | 3 | ₹ 9863 | ₹ 55,063 | ₹ 3,55,063 |
| ₹ 3,00,000 | 11.29% | 4 | ₹ 7796 | ₹ 74,207 | ₹ 3,74,207 |
| ₹ 3,00,000 | 11.29% | 5 | ₹ 6566 | ₹ 93,972 | ₹ 3,93,972 |
Benefits of HSBC Business Loans
- Get a loan of up to INR 70 Million.
- Can be taken in the form of an overdraft or term loan according to your needs.
- Available against completed residential properties and/or term deposits held with HSBC.
- Simple documentation.
HSBC Business Loan Processing Time
For loan applications for Commercial Banking customers, the Bank will take 30 working days to communicate the decision, once all the information required by the Bank is appropriately submitted by the customer.
HSBC Business Loan Preclosure
Business Loan Preclosure charges are 2% of the disbursed limit.
Pre Calculated EMI Table for HSBC Business Loan
| Loan Amount | 5 Year Loan | 7 Year Loan | 15 Year Loan |
|---|---|---|---|
| ₹ 20 Lakh | ₹ 42,298 | ₹ 32,996 | ₹ 21,248 |
| ₹ 30 Lakh | ₹ 63,446 | ₹ 49,494 | ₹ 31,872 |
| ₹ 50 Lakh | ₹ 1,05,744 | ₹ 82,490 | ₹ 53,120 |
How to Apply for HSBC Business Loan Online?
- Visit Dialabank
- Go to the loan section and click on the business loan link.
- The applicant will be directed to all details of the business Loan where they can choose their preferred options.
- Fill a user-friendly online application form for HSBC Business Loan.
- Please wait while our relationship manager gets in touch with you for further process.
- For more information and free guidance, you may call on 9878981166.
HSBC Business Loan Status
Overdraft: Minimise the risk of unplanned overdrafts. Improve your cash flow management with an option to access funds easily.
Dialabank HSBC Business Loan Customer Care Number
Dialabank is the leading agent for availing of HSBC’s Business Loan. You can apply online at Dialabank or give a call at 9878981166.
Dialabank helps you to find the best option for Banks and NBFCs by providing you with a detailed market comparison of different banks so that you can make the right choice.
HSBC Business Loan FAQs
✅ How much business loan amount can be availed through HSBC Bank?
From INR 50,000 to INR 4,000,000 can be availed depending on the income of the applicant.
✅ How do I repay my business loan?
It should be repaid through EMIs- Equated Monthly Installments; it can either be through standing instructions and post-dated cheque.
✅ Is there any need for security to obtain a business loan?
There is no need for collateral or security for availing of a business loan.
