Business Loans India

I want to apply for Business Loan in HDFC bank so can you please tell me the eligibility criteria and the documents required to apply for this loan?

[Shaleen]

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It was established in 1994. HDFC was ranked 32nd among India's most trusted brands

Business Loan

Eligibility-

Self Employed including Individual Proprietors, Private Ltd. Co. and Partnership Firms involved in the Business of Manufacturing, Trading or Services.

With:

Minimum Turnover of Rs. 40 Lakhs.

Years in business: Minimum of 3 years in current business and 5 years total business experience

Business must be profit making for the last 2 years

Minimum Annual Income (ITR): Rs. 1.5 Lakhs p.a.

Age of Applicant: Min 21 years & Max. 65 years at the time of loan maturity.

Documents you will need to submit:

Proof of your address: Copy of Aadhaar Card/Passport/ Voter ID-Card/Driving License.

PAN Card – For Company /Firm/ individual.

Proof of your identity: Copy of Aadhaar Card/Passport/Voter's ID card/Pan Card/Driving License.

Bank Statement (latest 6 months)

Latest ITR along with computation of income, Balance sheet and Profit & Loss a/c for the last 2 years. Financial should be CA Certified /Audited.

Proof of continuation (ITR/Trade license /Establishment /Sales Tax certificate)

Other Mandatory Documents (Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)