Two prominent lenders offering the best business loan 

When it comes to taking a business loan, many borrowers do not know which borrower to choose due to multiple offers. Ultimately it confuses the borrower. So, to distill the confusion, we have chosen two lenders to help you out. 

They are TATA capital business loan online and HDFC bank business. We will discuss everything related to them. It will help you to identify to choose the best one as per your need. Let’s start with the first one. 

TATA capital business loan online 

TATA capital offers a business loan to invest in whatever purpose you seem fit for. It does not require collateral or security to apply for the loan. And there is a flexible loan tenure.   

  • TATA capital offers a loan amount from Rs 50,000 to Rs 50 lakhs. 
  • The rate of interest is from 19% to 24% P.A
  • The loan tenure is from 1 year to 3 years. 
  • The processing charge is up to 2.75% of the loan amount. 
  • The prepayment charge is allowed after 6 EMIS at 4.5% of the principal outstanding loan amount. 
  • The cancellation charge is 2% of the loan amount. 
  • The no-objection certificate charge is Rs 550. 

The eligibility criteria for TATA capital business loan online 

  • The borrower’s age should be between 25 years and 65 years. 
  • The borrower should have a minimum of 2 years of work experience. 
  • The borrower’s business should be up and running for a minimum of 3 years. 
  • The turnover should be at least Rs 30 lakhs. 

Required documents

  • KYC Documents
  • Passport size photographs
  • ITR
  • P&L
  • Business ownership documents
  • Other documents required by the lender

How to apply for TATA capital business online? 

To apply for the TATA capital business online, visit their official website to do it. There is also an app to do it. Please fill out the form, submit it. The representative will get in touch with you to complete the process. Now, let’s check out HDFC. 

HDFC business loan online

HDFC bank business loan is aimed at those borrowers who want to use the money for expansion or growth. To check HDFC bank business online offers, head to Its website. 

  • HDFC bank offer loan amount up to Rs 50 lakhs. 
  • The rate of interest starts at 11.99%, going up to 21.35% P.A
  • The loan tenure is from 1 year to 5 years. 
  • The processing fee is up to 2.50% of the loan amount.
  • The pre-payment charge is between 2% and 6% allowed after 6EMIs. 
  • The late payment charge is 24% P.A on the outstanding loan amount. 

The eligibility criteria for HDFC bank business loan

  • The applicant’s age should be from 21 years to 65 years. 
  • The business should be profitable for the last two years. 
  • The minimum turnover should be at least Rs 40 lakhs. 
  • The age of business should be minimum of 3 years. 
  • The applicant should have at least five years of working experience. 

Required documents for HDFC bank business loan

  • Identity proof – Aadhar card, PAN card, Voter ID Card, Driving license
  • Address proof – Electricity bill, lease agreement, sales tax certificate, Trade license
  • Bank statement for the last six months
  • Articles of association certification
  • Business continuity proof
  • ITRs for the last two years
  • Balance sheet for the last two years. 

How to apply for an HDFC business loan? 

You can visit the HDFC website or go to a nearby branch to apply for a loan. 

The conclusion

If you look at both lenders personal loan offers, there are a lot of resemblances.  Here the way to get the best deal is via negotiation. Do talk with them finding out if the rate of interest could be lowest based on your past debt paying performance.