Business Loan Rates 2024

# HDB Business Loan

Last Updated : May 28, 2021, 9:12 p.m.

Having a big business deal in hand and require a loan to increase your working capital. Straightaway apply for HDB Financial Service business loan that is available at a reasonable rate of interest for the maximum tenure of 5 years. You are not supposed to provide any security for the loan you take. The institution will sanction the loan limit as per the financial position of the applicant and decide the repayment tenure on the same basis. The basic business loan details are provided in the table below:

## HDB Business Loan Details

Particulars Details
Interest Rates 18% p.a – 20% p.a
Loan Amount Up to Rs. 30,00,000
Tenure 12 months to 60 months
Type Of Loan Unsecured

How To Apply

You can apply for HDB business loan by visiting the nearest branch office. You can even apply online for the business loan. Just fill the application form online and the dealers will get back to you.

## HDB Business Loan EMI Calculator:

Is EMI calculation a hectic task for you. Use the Business Loan EMI Calculator for speedy calculation of EMI and interest amount. You just need to insert the loan amount, tenure and rate of interest in the calculator to get the accurate EMI value.

For instance, you apply for a business loan of Rs. 30 lakhs for the period of 5 years at the prevailing rate of interest which is between 18% p.a – 20% p.a then your EMI will be between Rs. 76,180 – Rs. 79,482

Table Showing EMI, Total Interest Amount and Total Repayment Amount

Loan Amount Loan Tenure Interest Rate EMI Total Interest Outgo Total Amount (EMI+Interest)
Rs. 30,00,000 1 year 18% p.a – 20% p.a Rs. 2,75,040 - Rs. 2,77,904 Rs. 3,00,480 - Rs. 3,34,842 Rs. 33,00,480 - Rs. 33,34,842
Rs. 30,00,000 2 years 18% p.a – 20% p.a Rs. 1,49,772 - Rs. 1,52,687 Rs. 5,94,535 - Rs. 6,64,498 Rs. 35,94,535 - Rs. 36,64,498
Rs. 30,00,000 3 years 18% p.a – 20% p.a Rs. 1,08,457 - Rs. 1,11,491 Rs. 9,04,459 - Rs. 10,13,667 Rs. 39,04,459 - Rs. 40,13,667
Rs. 30,00,000 4 years 18% p.a – 20% p.a Rs. 88,125 - Rs. 91,291 Rs. 12,30,000 - Rs. 13,81,972 Rs. 42,30,000 - Rs. 43,81,972
Rs. 30,00,000 5 years 18% p.a – 20% p.a Rs. 76,180 - Rs. 79,482 Rs. 15,70,817 - Rs. 17,68,899 Rs. 45,70,817 - Rs. 47,68,899

Amortization Table

Year Principal Payment Interest Outgo Balance Amount
1 Rs. 388,085 -Rs. 406,625 Rs. 507,535- Rs. 565,699 Rs. 2,593,375- Rs. 2,611,915
2 Rs. 473,227 - Rs. 486,167 Rs. 427,993- Rs. 480,557 Rs. 2,107,208- Rs. 2,138,688
3 Rs. 577,050 - Rs. 581,271 Rs. 332,889- Rs. 376,734 Rs. 1,525,937- Rs. 1,561,638
4 Rs. 694,978- Rs. 703,650 Rs. 219,182- Rs. 250,134 Rs. 830,959- Rs. 857,988
5 Rs. 832,085- Rs. 859,290 Rs. 83,232- Rs. 95,760 Rs. 0

Features and Benefits :

• Loan available up to Rs. 30 lakhs
• Doorstep service facility
• Hassle free documentation
• Attractive rate of interest

### HDB Business Loan Eligibility Criteria & Documentation

Category
Eligibility Criteria Documents Required
Self Employed (Professionals) including self - employed Doctors, Chartered Accountants, Architects, and Company Secretaries - Minimum age of applicant: 22 years
- Maximum age of applicant at loan maturity: 65 years
- Years in business : Minimum 3 years
- Minimum Annual Income: Rs. 1,00,000 p.a. for Metro locations & Rs. 75,000 p.a. for other locations
- Proof of Identity: Passport/ Voters ID / Driving License/ PAN Card/Aadhar Card/ Photo Ration Card
- Address Proof: Ration card /Driving License/ Voter ID/ Utility Bill (anyone within last 3 months) / Registered Rental Agreement / Passport
- Date of Birth Proof: Driving License / Pan Card / Passport Copy / Birth Certificate / 10th / 12th mark sheet bearing date of birth
- Bank Statements : Latest 3 Months bank statements / 6 months bank passbook
- Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
Self Employed (Individuals) including self-employed- Sole proprietors, Partners & Directors in the Business of Manufacturing, Trading or Services - Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 65 years
- Years in business: Minimum 4 years with at least 2 years in the same Business
- Minimum Annual Income: Rs. 1, 00,000/- p.a. for Metro locations & Rs. 75,000 p.a. for Non-Metro locations
- Proof of Identity: Passport/ Voters ID/ Driving License/ PAN Card/Aadhar Card /Photo Ration Card
- Address Proof: Ration card /Driving License/ Voter ID/ Utility Bill (anyone within last 3 months) / Registered Rental Agreement / Passport
- Date of Birth Proof: Driving License / Pan Card / Passport Copy / Birth Certificate / 10th / 12th mark sheet bearing date of birth
- Bank Statements: Latest 3 Months bank statements / 6 months bank passbook
- Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
Proof of continuation: Trade license /Establishment /Sales Tax certificate
- Other Mandatory Documents (Sole Prop. Decl. Or Cert. Copy of Partnership Deed, Cert. Copy of MOA, AOA & Board resolution.)
Self Employed (Pvt. Companies and Partnership Firms) including Private Companies and Partnership firms in the Business of Manufacturing, Trading or Services - Minimum age of Applicant: 22 years
- Maximum age of Applicant at loan maturity: 65 years
- Years in business: Minimum 4 years with minimum 2 years in the same Business
- Minimum Annual Income: Rs. 1,00,000/- p.a. for Metro Locations & Rs. 75,000/- p.a. for non-metro locations
- Business must be profit making for the last 2 years
- Proof of Identity: Passport / Voters ID/ Driving License/ PAN Card/Aadhar Card / Photo Ration Card
- Address Proof: Ration card /Driving License/ Voter ID/ Utility Bill (anyone within last 3 months) / Registered Rental Agreement / Passport
- Date of Birth Proof: Driving License / Pan Card / Passport Copy / Birth Certificate / 10th / 12th mark sheet bearing date of birth
- Bank Statements: Latest 3 Months bank statements / 6 months bank passbook
- Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
- Proof of continuation: Trade license/ Establishment/ Sales Tax certificate/ SSI Registration
- Other Mandatory Documents (Sole Prop. Decl. Or Cert. Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (Certified by Director) & Board resolution (Original)

### HDB Business Loan Interest Rate

The loan provided by HDB Financial Services is unsecured. Hence, the rate of interest depends on the business vintage, credit history and the repayment track. It is also affected by the loan amount and tenor. At present, the rate of interest varies from 18% p.a to 20% p.a .

### HDB Business Loan Application Status

Once you have applied for the loan you can inquire about the loan status from the nearest HDB branch. The executives will inform you about the current position of the loan application.

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