HDFC Bank’s Business Loan is designed to meet the varying business needs for self employed businessmen involved in manufacturing, trading and the service industry.
Features
Unsecured Loan to self employed businessmen involved in Manufacturing, Trading and Service Industry.
Loan Amount up to Rs.15 Lakhs. (Up to Rs 30 Lakhs in selected locations).
Flexible repayment options ranging from 12 – 36 Months.
Hassle free processing.
Speedy loan approval.
Convenience of Service at your doorstep
Eligibility creteria
Self Employed (Private Ltd. Co. and Partnership Firms) include Private Companies and Partnership firms in the Business of Manufacturing, Trading or Services.
Eligibility Criteria:
Minimum Turnover of Rs. 40 Lakhs.
Years in business: Minimum of 3 years in current business and 5 years total business experience
Business must be profit making for the last 2 years
Minimum Annual Income (ITR): Rs. 1.5 Lakhs p.a.
Documents required:
PAN Card
Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
Bank Statement (latest 6 months bank)
Last 2 Years ITRs (computation of income) Balance Sheet and Profit & Loss a/c. Audited or Certified by a CA
Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)
Sole Proprietor Declaration or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association & Board resolution (Original)
Self Employed (Individuals). include - Sole proprietors, Partners & Directors
Eligibility Criteria
Minimum age of Applicant: 21 years
Maximum age of Applicant at loan maturity: 65 years
Years in business: Minimum of 3 years in current business and 5 years total business experience
Minimum Annual Income (ITR): Rs. 1.5 Lakhs p.a.
Documents required:
Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
Address Proof (Ration card Tel/elect. Bill/ Lease agreement/ Passport/ Trade license /Sales Tax certificate)
Bank Statement (latest 6 months)
Latest ITR along with computation of income, Balance Sheet & Profit & Loss a/c for the last 2 yrs. Audited or Certified by a CA
Proof of continuation (ITR/Trade license /Establishment /Sales Tax certificate)
Other Mandatory Documents (Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)
Features:
Rack Interest Rate Range 17.50% to 22.00%
Loan Processing Charges Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/-
Prepayment No pre-payment permitted until repayment of 6 EMIs
Pre-payment charges 4% of the Principal Outstanding after repayment of 6 EMIs
No Due Certificate / No Objection Certificate (NOC) NIL
Duplicate no due certificate / NOC Rs 250/-
Solvency Certificate Not applicable
Charges for late payment of EMI @ 24 % p.a on amount outstanding from date of default
Charges for changing from fixed to floating rate of interest Not applicable
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/- per event
Loan Re-booking charges / Re-scheduling charges Rs 1000/-
Loan cancellation charges Rs. 1000/-
Cheque Bounce Charges Rs 450/- per cheque bounce
Legal / incidental charges At actual
CIBIL Report Copy Charges Rs.50 Per Copy