DHFL Business Loan
DHFL Business Loan
Dewan Housing Finance Limited (DHFL) offers business loans for Small and Medium Size Enterprises (SME) to promote the business community and industrial sectors in India. These business loans are meant for most business purposes to meet the requirement of short-term finance, working capital or for business expansion. In this article, we look at the Business loan from DHFL Bank in detail.
To know more about Entrepreneurial and Managerial Development of SMEs
DHFL Business Loan Details
The below following are the details of DHFL Business Loan Interests, charges, fees and Commissions.
| Type | Details |
| Loan Amount | The minimum loan amount offered is Rs. 5,00,000/- whereas the maximum amount is Rs. 30,00,000/- |
| Application Fees or Login Fees | Nil |
| CERSAI Registry and Modification Charges |
|
| Tenure | The maximum repayment tenor is up to 5 years |
| Interest Rate | Minimum16% to 22% |
| Processing Fee | 2% of the loan amount + Applicable GST |
| Payment Charges | Nil |
| ECS/ Cheque bounce charges | Rs. 250 per instance |
| Prepayment | Permitted after 6 months |
| Foreclosure Statement Charges | No Foreclosure allowed for business loans and the Disbursement Stage is within 6 months of the agreement date |
| Document retrieval charges on the closure of loan |
|
| Stamp duty/ Franking charges | As per applicable law/charges of the relevant property state |
| Duplicate No Dues Certificate | Rs. 250/- + Applicable GST |
| Overdue Charges on default instalment (EMI/ Pre-EMI) | 18 % per annum on the outstanding dues |
Eligibility Criteria
In general, self-employed individuals, doctors and the below following are eligible to apply for the DHFL Business Loan:
- Proprietorships
- Partnerships
- Limited Liability Partnerships
- Private Limited Companies
- Limited Companies
Documents Required
The below listed are the documents/records that need to be furnished at the time of applying for business loans in DHFL company.
Sole Proprietorship Firm
- Identity Proof (PAN Card, Aadhar card, etc.) of the proprietor.
- Address Proof (Valid Passport, Utility bill, Property tax bill, etc.) of the proprietor.
- Registration Certificate from Registrar of LLP (in the case of a registered concern).
- Certificate/licence issued from the Municipal authorities under the Shop & Establishment Act.
- Sales and income tax returns in the name of the sole proprietor of last 2 years.
- Property Documents in case of Property Term Loans.
Partnership Firms
- Registration certificate
- Partnership deed
- Beneficial owners list holding more than 15% in the firm.
- Address Proof & ID Proof
- Power of Attorney (POA)
- Existing facility sanction letter or Repayment Track Record (RTR) of the existing loan, if any
- Proforma invoice of machinery, in case of Plant and Machinery Loans
- Original Property papers in case of Property Term Loans
Private/Public Limited Company
- Memorandum of Association (MOA) and Articles of Association (AOA)
- Latest shareholding pattern
- KYC of Directors
- PAN Card of the entity and Directors
- Last 2 years of financial records with the audit report
- Past 6 months Bank statement of all bank accounts
- Existing facility sanction letter and Repayment Track Record (RTR) of the existing loan, if any
- Proforma invoice of machinery, in case of Plant & Machinery Loans
- Original Property papers in case of Property Term Loans
Application Procedure
To apply for the Loan for SME Business loan, the applicant has to follow the below procedure:
Step 1: The applicant will have to approach the nearest DHFL branch to apply for the scheme.
Step 2: The applicant must fill out the SME loan application form with all the requested details and have to attach the specified documents as required. The application form can be downloaded from the website of DHFL.
Step 3: After completing the application form, submit it to the concerned official.
Step 4: Upon submission of the loan application form, the verification process will be done by the official.
Step 5: Then, the applicant will be provided with an acknowledgement slip for future reference.