All About HDFC Business Loan
HDFC Bank is an Indian Banking and financial services headquartered in Mumbai, Maharashtra. It is the fifth largest bank in India by assets, incorporated in 1994. It is the largest private sector bank in India by market capitalistion as of 24 February 2014.
For self-employed people, HDFC has a special Product “Business Loan” for all short term and long term requirements. The loan is an Unsecured Business Loan or Debt i.e. you do not need to provide any security or collateral.
People looking for Business Loan in the following sectors can apply:
- Service Provider
- Software Company
- IT Company
- Small Business
Features of HDFC Business Loan:
- HDFC Business Loan for all your Business needs.
- Quick Approval within 24 hrs.
- No hidden costs.
- Attractive Business Loan Interest Rates.
- HDFC promises to meet performance and financial requirements.
- Business Finance for the purchase of valuable assets and business expansion needs.
Eligibility for HDFC Business Loan
Self Employed People are eligible for availaing Unsecured Business Finance. The eligibility criteria is calculated on the following norms:
- Minimum Loan amount available: Rs. 75,000
- Maximum loan amount available: Rs. 30 lacs
- Minimum Income (annual):Rs. 1, 50,000
- Minimum age: 21 Years & Maximum Age at loan maturity: 60 Years
- Minimum Turnover in Business: Rs 15 Lacs per annum
- Minimum Experience in Business: Minimum 3 years experience in the current business and total 5 years business experience. Business must be continuously making a profit from last 2 years.
- Business should be filling 1.5 lacs to 2 Lacs ITR per annum.
Documents Required for HDFC Business Loan :
- Identity Proof (Passport Copy/ Voters ID Card/ Driving License)
- Proof of Address (Ration Card/ Telephone Bill/ /Electricity Bill/ Passport)
- Bank Statements (latest 6 months bank statement /passbook)
- Latest ITR, along with computation of income
- Balance Sheet & P&L Account for the last 2 Yrs, certified by a CA
- Qualification Proof of the Highest Professional Degree
- Proof of Continuation (Trade license /Establishment /Sales Tax Certificate)
- Other Mandatory Documents (Sole Proprietorship – Declaration, Partnership – Copy of Partnership Deed, Apart from Copy of MOA, AOA & Board Resolution)
- Two passport size photographs.