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	For loans up to Rs. 5 Lakh is Rs. 50/- + Applicable GST For loans above Rs. 5 Lakh is Rs. 100/- + Applicable GST
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	Rs. 1,000/- for loans up to Rs. 10 Lakh + Applicable GST Rs. 2,000/- for loans above Rs. 10 Lakh + Applicable GST
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:

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.