Apply for Loan for Professionals online HDFC Bank

Bank Loan  Updated date : December 1, 2017 164

Grow your business the easy way with loans for professionals from HDFC Bank.

Use funds from your professional loan to expand your business, upgrade equipment and much more. In addition, you don’t require security when you apply for professional loans at HDFC Bank.

Apply for professional loans to get competitive interest rates. Enjoy customised professional loans and fast approvals. We offer special benefits on professional loans for selected professions, such as doctors.

Quick, competitive and transparent, HDFC Bank Loans for Professionals can be customised to suit your every need. With our easy documentation and speedy approvals, you can avail of a hassle-free loan and enjoy our unmatched benefits.

Loan for Professionals Features

Enjoy the benefits of our professional loans with quick processing and disbursal of funds. The key features of our professional loans include flexible tenure from 12 to 60 months, and the option to the credit protect insurance plan.

Get the benefit of professional loans when you transfer your existing loan to HDFC Bank. Or apply to us for professional loans directly, with loan amounts of up to Rs 20 lakhs (up to Rs 50 lakhs in select locations).

    • Stay Protected
      Take care of your loved ones by paying a nominal premium* and covering your loan with our Credit Protect Insurance Plan:
      • 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 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.
      • Benefits:
        • 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

*Terms & Conditions of the Insurers shall apply. The above product is offered by HDFC Life Ins Co. Ltd.

  • Fulfil Your Every Need
    Avail of a loan up to Rs. 20 lakhs (up to Rs. 50 lakhs in select locations) without any collateral, guarantor or security, to fulfil your every business need, from business expansion and working capital, to your child's education or a home renovation.
  • Transfer Loan Balance with Ease
    Transfer your existing Loan for Professionals to HDFC Bank for lower EMIs, and enjoy our benefits
    • Interest rates as low as 12.99%* on the existing loan transfer
    • Processing fee as low as 0.99%

    To transfer your loan balance, apply now.

  • Quick Eligibility Check & Disbursal
    Check your Loan for Professionals 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 choose any tenure from 12 months to 60 months.
  • Convenient Borrowing
    For any help with your loan, you can reach out to us via SMS, Webchat, Click2Talk and PhoneBanking.

Loan for Professionals Eligibility Criteria

The eligibility criteria for professional loans apply to a wide range of professionals across industries. Read below to know more about eligibility criteria for professional loans.

The following people are eligible to apply for an HDFC Bank Loans for Professionals:

  • Doctors, Chartered Accountants, Architects, Company Secretaries, and professionals involved in self practice or consulting
  • Individuals who have minimum 4 years of post-qualification experience for Doctors and Chartered Accounts, and minimum 5 years of post-qualification experience for Company Secretaries and Architects
  • The business should have a Minimal Annual Income (ITR) of Rs. 1 lakh per annum
  • Those whose business has been profit making for the previous 2 years
  • The applicant should be at least 25 years at the time of applying for the loan, and should be no older than 65 years at the time of loan maturity

Loan for Professionals Documentation

We require minimal documents for professional loans, so you can enjoy speedy processing of your documents and quick disbursals of funds for your professional loan. Read below to find more about documents required for professional loans.

The following documents are required along with your Loans for Professionals application:

  • Qualification proof for highest professional degree
  • PAN Card – For Company/Firm/Individual
  • A copy of any of the following documents as identity proof:
    • Aadhaar Card
    • Passport
    • Voter's ID Card
    • Driving License
    • PAN Card
  • 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)]

Loan for Professionals Rates & Fees

HDFC Bank offers competitive interest rates on professional loans. Refer below to know more about professional loan interest rates and fees and charges for professional loans.

Enclosed below are HDFC Bank Loans for professionals Interest Rates & Charges Loan EMI Calculator

FeeCharges
Rack Interest Rate Range14.15% to 14.50%
Loan Processing ChargesUp to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 75000/-.
PrepaymentNo pre-payment permitted until repayment of 6 EMIs
Pre-payment charges07-24 Months - 4% of Principal Outstanding
25-36 Months - 3% of Principal Outstanding
>36 Months - 2% of Principal Outstanding
No Due Certificate / No Objection Certificate (NOC)NIL
Duplicate no due certificate / NOCNIL
Solvency CertificateNot applicable
Charges for late payment of EMI2% per month on EMI / Principal overdue subject to the a minimum amount of Rs. 200/-
Charges for changing from fixed to floating rate of interestNot applicable
Charges for changing from floating to fixed rate of interestNot applicable
Stamp Duty & other statutory chargesAs per applicable laws of the state
Credit assessment chargesNot applicable
Non standard repayment chargesNot applicable
Cheque swapping chargesRs 500/-
Amortization Schedule chargesRs 200/-
Loan cancellation chargesNIL (However Inerest would be charged for the interim period between date of loan disbursement and date of loan cancellation and processing fees would be retained)
Cheque Bounce ChargesRs.550/- per cheque bounce
Legal / incidental chargesAt actual

Rates offered to customer during the period of July'17 to September'17

IRRQ II (2017-18)
Min IRR10.00%
Max IRR15.10%
Avg IRR12.18%

Annual Percentage Rate offered to customer during the period of July'17 to September'17

APRQ II (2017-18)
Min APR10.10%
Max APR17.00%
Avg APR12.43%

*Government Taxes and other levies as applicable will be charged over and above the Fees and Charges

Loan at the sole discretion of HDFC Bank Ltd.

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Loan Query / Support / Feedback

    Personal loan /Business Loan by Siddhaarth Bhardwaj:

    Hi,I have not filed any ITR till now. I have a recently registered MSME business. Let me know if I am eligible for any loan?
    Thanks