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HDFC Bank Business Loan Interest Rates

Highlights

  • Get HDFC Bank Business Loan at Attractive Interest Rate and at a Low Processing Fee.
  • Enjoy Latest Interest Rates Ranging from 17%-21% (Reducing).
  • Major Factors that Affect the Rate of Interest.

Are you planning to take a business loan at the lowest interest rate? If yes, then HDFC Bank is the top bank in the private sector to offer loans at attractive interest rates ranging from 17% to 21% (Reducing) per annum. See the HDFC Bank Business Loan Interest Rates and then apply for the loan.

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    Know Complete HDFC Bank Business Loan Rates

    From the table below, you can see all the Business Loan Interest Rates, Loan Processing Charges, Non-Standard Payment Charges, Cheque Swapping Charges and many more.

    ParticularsDetails
    Interest Rates17% - 21% p.a (Reducing)
    Processing Fee1.5% - 2% on Loan Amount
    PrepaymentStarts after the Repayment of 6 EMIs
    Prepayment ChargesBetween 07-24 Months - 4% of outstanding Lona
    25-36 Months - 3% of Outstanding Loan
    Less than 36 Months - 2% of Outstanding Loan
    Loan Closure ChargesNIL
    Duplicate Loan Closure ChargesNIL
    Solvency CertificateNot Applicable
    Overdue EMI Interest2% p.m. on EMI minimum of ₹200
    Charges for Changing from Floating to a Fixed Rate of InterestNot Applicable
    Stamp Duty and Other ChargesAs per the applicable law of the state
    Credit Assessment ChargesNot Applicable
    Non-Standard Repayment ChargesNot Applicable
    Cheque Swapping Charges₹500/-
    Amortisation Charges₹200/-
    Loan Cancellation ChargesNIL
    Cheque Bounce ChargesPer Cheque ₹550/-

    Factors that Affects HDFC Bank Business Loan Interest Rates

    As we know that different lenders provide business loan at a different rate of interest. You should be aware that even the same bank offers business loans to different borrowers at different interest rates. There are many factors that affect the interest rate of the business loan different from the interest paid by another borrower. To avail best business loan interest rates you must know the following factors.

    People Also Look For  Bajaj Finserv Business Loan Interest Rates

    Nature of Business

    If you are running any business for many years it doesn’t matter but what kind of business you are doing. Due to the nature of the business interest rate will be decided. So a good profit making business gets HDFC Business Loan at a low rate of interest due to low risk in bank.

    Depends on CIBIL Score

    In today’s world, all are aware that the CIBIL Score matter a lot while calculating the borrower eligibility. It is generally recommended that you always have a good credit score above 700 to avail best facility provided by the bank. Bank only offers low-interest when the borrower has a high credit score. On the other side, bad credit scores can lead to the rejection of loan application.

    Business Vintage

    If you have been doing business for many years, this shows your stability in business and it is a positive impact for the bank. Banks tend to see risk of default and higher repayment capacity. Therefore, the bank offer low interest rates. But in case of less vintage, you have to pay high interest rates.

    Profit

    The bank will always check your monthly profit how much you are earning. On the basis of your earning income, only the interest rate will be calculated. If your profit is high so the interest rate will be less and your loan amount value is high. On the other hand, with less profit, the interest rate will be high and your loan amount value also less.

    Interest Rates Affecting the Amount of EMI

    People Also Look For  Saraswat Bank Business Loan

    EMI is usually calculated on a number of factors that are the principal amount, the loan term and the interest rate. To clear the outstanding balance, you have to pay the principal amount and interest every month. Use the HDFC Bank Business Loan EMI Calculator to know the exact EMI. Let’s understand EMI Calculation through the below table.

    Loan AmountRate of InterestTenureEMI Amount
    ₹5,00,00017%36 Months₹17826.36
    ₹5,00,00021%36 Months₹18837.53
    ₹5,00,00019%36 Months₹18328.01
    ₹10,00,00017%36 Months₹35652.73
    ₹10,00,00021%36 Months₹37675.07
    ₹10,00,00019%36 Months₹36656.02

    How to Apply for HDFC Bank Business Loan?

    If you are satisfied with the rate of interest and willing to apply for the business loan then just fill the application form given above. Then you’ll get a call from the representative telling you the schemes and the documents required for a business loan.

    Free CIBIL Score
    Personal Loan Interest Rates December 2019
    Bajaj Finserv10.99% - 16.00%
    Fullerton India14.00% - 33.00%
    HDFC Bank10.75% - 21.45%
    ICICI Bank10.99% - 18.40%
    IndusInd Bank10.99% - 16.00%
    Kotak Bank10.99% - 20.99%
    RBL13.00% - 18.00%
    Standard Chartered Bank11.50% - 18.00%
    Tata Capital10.99% - 18.00%
    Home Loan Interest Rates December 2019
    State Bank of India/SBI8.15% - 8.80%
    HDFC8.25% - 9.30%
    LIC Housing8.35% - 8.95%
    PNB Housing Finance9.25% - 12.00%
    Piramal Capital & Housing Finance9.00% - 9.10%
    Tata Capital9.20% - 9.35%
    ICICI Bank9.20% - 9.65%
    Bank of Baroda8.40% - 9.40%
    Axis Bank8.90% - 9.15%
    Citibank9.00% - 9.85%
    Indiabulls Housing Finance Limited8.80% - 11.05%
    Kotak Bank8.90% - 8.75%
    DHFL9.05% - 9.95%
    Reliance Home Finance8.75% - 14.00%