Business Loan FAQs??

 




  • How is Business Loan interest rate calculated?

HDFC bank offers the lowest interest rates in the market across all segments. As we offer customers an unsecured loan i.e. collateral-free loan, the rate of Interest will be higher as compared to secured products offered by banks.

  • How is Business Loan processing fee calculated?

Processing fees are restricted to 2% + GST which is standard across all the products.

  • Is there any stamp duty applicable for taking pre-approved Business Loan?

Stamp duty collection is mandatory for pre-approved offers as well. Also, the customers must note that stamp duty charges are different for different states.

  • What are the foreclosure charges for Business Loan?

Customers can foreclose loans after 6 EMI payments. The foreclosure charges are 4% + GST of the outstanding loan amount. The grid defers as per loan tenor.

  • What are the steps for foreclosing an Business Loan?

The minimum lock-in period for Business Loan is 6 months i.e. 6 EMIs paid.

  • What if I need a higher amount of loan amount as compared to my pre-approved offer loan?

Customers can connect with their local branch if the requirement is higher than the offered loan amount. There will be an additional set of documents that will be required for processing the case for higher loan amount for which the branch staff will guide you. Loan amount will be subject to eligibility as per documents.

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