Funding Your Vision – Check Eligibility, Calculate EMI & Apply in Minutes!
For every business, funding is a key concern and a requisite for scaling up. But getting loans is not that simple, especially for small businesses. This is where Loan Shopie MyBusiness promises to support. Our financial services are aimed at helping you overcome financial constraints and realise your business goals.
To fulfil all your business endeavours; expansion, office renovation, modernisation, automation, equipment purchases, skill development, and more, you need capital. With Loan Shopie Business Loans, specially designed for MSMEs, you can provide your business with the momentum it needs and take it to newer heights. To make things convenient, we guarantee loans at reduced turnaround time for short and long term business needs.
If you're running an SME, we’ve got special offers just for you. Learn more now!
Standout features:
- Competitive Interest Rates
- Loan up to Rs.75 Lakh
- Flexible Tenure up to 4 years
- Minimal Processing Fee
- Minimal Documentation
- No Paperwork & 10-second disbursals for pre-approved HDFC Bank customers
EMI Calculator
EMI: ₹0
We offer Business Loan solutions for every business!
Loans for Manufacturers:
Whether you run a factory or a small production unit, our Business Loan helps you upgrade machinery, buy raw materials, or expand operations giving you the financial support to scale efficiently and meet growing demand. Also helps MSMEs in manufacturing, looking to modernize and grow their business with flexible loan terms.
Loans for Traders:
From retail stores to wholesale distributors, our Business Loan helps trading businesses maintain inventory, manage cash flow, or open new outlets. Stay stocked, stay ahead with funding that keeps your business moving at the speed of demand.
Loans for Service-Based Business:
Our loan helps you upgrade equipment, hire skilled staff, or expand your workspace empowering you to enhance your services and grow your customer base.
Business Loan: Key Features
Get Business Loan Up To ₹75 Lakh
You can get collateral free & customized loan options from ₹75,000 to ₹75 Lakh for all your varying business needs.
Attractive Interest Rate
We assure you, that you will get the industry best interest rates from us! Business Loans starting from 14.5% to 21%.
Xpress Business Loans
✔️ Paperless business loan
✔️ No documentation needed
✔️ Get funds in 10 seconds*
✔️ Collaterals free loan
Lower Your EMI By Transferring Your Loan Balance
We offer Lower Interest Rates, Flexible Loan Tenure, Quick Processing & completely digital application process so that you can transfer your loan instantly.
Flexible Loan Tenure
You can choose a loan amount that suits your business requirements and opt for a flexible loan tenure between 12 months to 48 months to ensure easy repayment.
Hassle - Free Documentation
You no longer have to worry about hours and hours of paperwork to apply for a loan. Loan Shopie simplifies the process and helps you secure a business loan with ease. Keep your digital documents handy when applying.
Get Loan Assistance Anywhere
For any loan-related queries, feel free to reach out to us anytime on our helpline 1800 571 2890
All you need to know about Business Loan
Fulfil Your Every Need
Avail of a loan up to ₹50 lakhs (up to ₹75 lakhs in select locations) without any collateral, guarantor or security, to fulfil your every business need, from business expansion and working capital, or any other personal work.
Transfer Loan Balance with Ease
Transfer your existing Business Loan to hdfc bank through loan shopie for lower EMIs, and enjoy our benefits
- ·Attractive Interest rates on existing loan transfer.
- Flexible tenure upto 48 months to transfer your loan balance.
Dropline Overdraft Facility
It provides Overdraft Facility without any security. Limit is set in a separate Current Account which drops monthly till the end of the tenure. Pay the interest only on the amount utilised.
- Dropline Overdraft Facility up to ₹1 lakh – ₹25 lakhs*
- No guarantor/ security required
- Tenure ranging from 12-48 months
- Attractive rate of interest
Quick Eligibility Check & Disbursal
Check your Business Loan eligibility online or at any branch in just 60 seconds. Loans will be disbursed based on previous repayment of Home Loans, Auto Loans and Credit Cards.
Flexible Tenure
You can repay your loan over a period of 12 to 48 months.
Convenient Borrowing
For any help with your loan, you can reach out to us via WhatsApp.
Stay Protected
- Take care of your loved ones by paying a nominal premium* and covering your loan with our Credit Protect
- Protects the family by paying off the loan amount in case of death of the customer
- Life coverage – provides peace of mind
- No need to use other savings to repay the loan
- Tax benefits as per applicable laws
- One convenient package – loan + insurance
- The premium for this product will be deducted from the loan amount at the time of disbursal, after levying service taxes and applicable surcharge/cess at the rates notified by the government
- In case of natural/accidental death of the customer, the customer/nominee can avail of the Payment Protection Insurance (Credit Protect), which insures the principle outstanding on the loan up to a maximum of the loan amount.
The following people are eligible to apply for a Business Loan:
Self employed individuals, proprietors, private ltd. co. and partnership firms involved in the business of manufacturing, trading or services.
The business should have a minimum turnover of ₹40 lakhs
Individuals who have been in the current business for a minimum of 3 years, with 5 years total business experience.
Those whose business has been profit-making for the previous 2 years
The business should have a Minimal Annual Income (ITR) of ₹1.5 lakhs per annum
The applicant should be at least 21 years at the time of applying for the loan, and should be not older than 65 years at the time of loan maturity.
Enclosed below are HDFC Bank Business Loan Interest Rates & Charges
Senior Citizen Customers are eligible for discount of 10% on all service charges
Charges to avail a Business Loan & BL Dropline Overdraft
Government taxes and other levies as applicable will be charged over and above the Fee and Charges. Loan disbursal at the sole discretion of HDFC Bank Ltd.
Fee | Charges |
|---|---|
Rack Interest Rate Range | Minimum 10.75% and maximum 22.50% |
Loan Processing Charges | Loan Processing charges: 2.00% + GST *NIL Processing Fees for loan facility up to ₹5 Lakhs availed |
Stamp Duty and other | As per applicable laws of the state |
Charges post Loan Disbursement
Fee | Charges |
Premature Closure Charges (Full / Part Repayment) | Term Loan Upto 24 EMI- 4% of principal outstanding, Post 24-36 EMI – 3% of principal outstanding, >36 EMI- 2% of principal outstanding DOD Facility 0-24 months – 4% of existing operating limit 25-36 months – 3% of existing operating limit, >36 months – 2% of existing operating limit Prepayment charge would be applicable on the principal outstanding amount of the loan and on existing operating limit (for BL DOD), GST and other Govt Taxes and Levies as applicable from time to time, would be charged additionally. In case of BL/SEP, Part prepayment would be allowed post servicing of 1st EMI, up to 25% of Principal Outstanding. It is allowed only once in the financial year and twice during the entire loan tenure. Charges would be applicable as above on the part pre-payment amount. |
Payment Return | ₹ 450 Per Instance |
Delayed instalment payment charge | 1.50% per month (18% per annum) plus applicable government taxes on overdue instalment amount Charge to be applied for all accounts where instalment remains unpaid after expiry of grace period of 7 calendar days from due date of instalment. |
Loan Cancellation & Rebooking Charges | NIL for cancellation of Loan (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation. Processing Fee, Stamp duty, other statutory charges and GST are non-refundable charges and would not be waived/refunded in case of loan cancellation.) Rs. 1000/- for rebooking the loan. |
Interest applicable on amount utilised over operating limit in DOD/OD | 24 % per annum on the amount utilized above the available credit limit for DOD |
Non-utilization charges for overdraft facility / Commitment charges | Minimum Utilisation expected: – 30% of limit Non- Utilisation Charges: – 0.10% will be charged on the difference between the actual average utilization and expected average utilization of 30%. Charges to be levied quarterly. Maximum charges levied would be ₹ 5000/- |
Repayment mode change charges | ₹500 |
Amortization Schedule Charges | ₹ 50/- per schedule for physical copy. Customer can also download from website free of cost. |
Legal/Incidental Charges | At actuals |
Note: NIL Premature Closure Charges for Fixed rate loan facility up to ₹ 50 Lakh availed by Micro & Small Enterprises.
The following documents are required along with your Business Loan application:
- PAN Card – For Company/Firm/Individual
- A copy of any of the following documents as identity proof:
- Aadhaar Card
- Passport
- Voter’s ID Card
- PAN Card
- Driving License
- A copy of any of the following documents as address proof:
- Aadhaar Card
- Passport
- Voter’s ID Card
- Driving License
- Bank statement of the previous 6 months
- Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being 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)]
FAQs on Business Loan
Loan Shopie will assist to get 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.
Processing fees are restricted to 2% + GST which is standard across all the products.
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.
A service request has been registered regarding your Business Loan foreclosure. You can reach out to us directly for assistance, and our experts will guide you through the journey.
If the loan amount required exceeds the offered amount, customers can reach out for assistance. Additional documents will be required to process the case for a higher loan amount, and our team will guide you through the process. The loan amount will be subject to eligibility based on the provided documents.
Loan processing and disbursement will take at least 7 working days post submission of all requisite documents and information as may be required by the Bank as per Bank’s criteria. All loan approvals are at the sole discretion of the bank.