6 Reasons to Opt for HDFC When it Comes to Availing a Business Loan

How big are your entrepreneurship goals? If you are witnessing a gradual growth of your small firm and wish to turn it into a large-scale company, wait no further. Worried about finances? Why wait or worry when you can avail HDFC Business Loan.

Business Loans from HDFC Bank comes with a host of benefits. Besides, it is tailor made to meet unique business needs. What is the greatest advantage you gain from HDFC bank? They do not require any security! They offer their products with complete transparency and competitive interest rates. You can borrow up to 50 Lakhs.

Here are 6 reasons why you should opt HDFC when it comes to availing a Business Loan:

Multipurpose Use

You can borrow up to 40 Lakhs (up to 50 Lakhs in certain locations), to meet your business needs. Right from business expansion to working capital, financing your child’s education to renovating your home, you can use your loan for many purposes. No collateral, guarantor or security required!

Dropline Overdraft Facility

HDFC Bank provides overdraft facility of up to 5 Lakhs to 15 Lakhs without any security at attractive interest rates. With tenure ranging from 12 to 36 months, limit setting is done in separate Current account which drops monthly till the end of the tenure. You thus pay interest only on the amount used.

Easy Transfer of Loan Balance

Transferring your existing Business Loan to HDFC happens easily. Lower EMIs, low processing fee (as low as 0.99%), interest rates as low as 16% subject to terms and conditions are the benefits you enjoy.

Quick Eligibility Check and Disbursal

To check your eligibility for HDFC Business Loan online visit the bank’s official website or a trusted one-stop online financial services marketplace like mymoneymantra. Alternatively, you may visit the nearest bank branch. Disbursal of the loan amount happens fast. If you have taken other loans before, their repayment including credit card repayment will be taken into consideration for the disbursal.

Flexible Tenure and Convenience Unlimited

HDFC Business Loan comes with a flexible tenure allowing the borrower of repayment over a period of 12 to 36 months. To reach out to HDFC Bank executives related to your loan, you enjoy the convenience of connecting via phone banking, SMS, Webchat, and Click2Talk.

Stay Protected

HDFC facilitates the borrower to cover the borrowed amount with Payment Protection Insurance (Credit Protect) plan. This plan, which is a blend of loan and insurance, helps you take care of your loved ones by paying a nominal premium. According to this plan, the borrower’s family (nominee) can avail Payment Protection Insurance in case of natural or accidental death of the borrower.

The principal outstanding on the loan up to a maximum of the loan amount is insured under this plan. This is an extra benefit the premium of which gets deducted from the loan amount at the time of disbursal. Taxes and other charges according to government rates are applicable on the premium. Borrower thus gets life coverage and enjoys peace of mind. The icing in the cake is entitlement to tax benefits!

With easy documentation, doorstep service, and fast disbursal within 48 hours (subject to terms and conditions), not to mention the numerous unmatched benefits, you can borrow big. If you are a small business owner, apply for HDFC Business Loan and take your business to the next level.

For availing best offers on Business Loans, visit mymoneymantra, a trusted marketplace to avail financial services.