It’s not uncommon for us to observe that any business life cycle experiences a phase when it requires expansion. The business seeks to grow itself by investing in capital expenditure or by upgrading the business equipment etc. Naturally, a huge cash flow is required to realise such an expansion. Also, it’s anybody’s guess that capital is required up front to start any business afresh. A best business loan can be the best financial assistance one can get in junctures such as these. No wonder that business loans are becoming popular means whenever an entrepreneur wants to fund any start-up venture or to scale up his existing business operations.
Many banks & financial institutions offer attractive business loan schemes these days with zero collaterals, pre-approved offers and highly competitive interest rates. In this blog, we will tell you all you need to know about HDFC business loans, one of the most popular business loans in India.
Features & benefits of an HDFC Business Loan
HDFC has introduced a variety of business loan products to cater to the needs of individuals, trading/manufacturing units and self-employed proprietorship/partnership firms. Here are some important features and benefits of HDFC business loans:
- Facility to check online eligibility quickly
- Hassle-free and fast approval and disbursal of business loans
- No need of a collateral/guarantor for business loans up to Rs 40 lakhs ( Up to Rs 50 lakhs at selected locations)
- The HDFC business loan interest rate is a highly competitive one. Moreover, you need to pay interest only on the amount utilized
- Nominal pre-payment charges are applicable
- Flexible loan repayment tenure from 1 to 5 years
- Easy documentation. Only a few mandatory documents are required
- Attractive loan balance transfer options. You can avail lower EMIs, waiver of processing fee and other offers.
- Special low-interest offers are