HDFC Bank Ltd- Term Loan and Dropline overdraft Facility
HDFC Bank Ltd- Term Loan and Dropline overdraft Facility
Committee for Members in Practice has done an arrangement with HDFC Bank Ltd. to provide Term Loan and Dropline Overdraft facilities at discounted rates to the Members of ICAI.
These financing solutions are collateral-free and tailored to support the diverse professional needs of members—be it practice expansion, technology, and equipment upgrades, working capital requirements, or managing overheads—with ease and flexibility.
Key Benefits
- Collateral-Free Financing: No collateral is required to avail Dropline Overdraft or Term Loan.
- Discounted Interest Rates: Exclusive rates lower than standard offerings, making borrowing more affordable.
- Flexible Repayment Plans: A range of repayment plans to match members individual financial needs, with tenors up to 48 months.
- Quick and Efficient Application Process: Streamlined process with minimal paperwork for faster approvals.
- Dedicated Support: Personalized assistance from experienced Relationship Managers throughout the loan journey.
Features of Loan Offerings
- Loan Amount: Dropline Overdraft/Term Loan up to ₹50 Lakhs.
- Tenor Offered: Up to 48 months.
- Documentation:
- ITR of last 2 years along with complete financials.
- GST returns 6M.
- Ownership Proof.
- Latest 12M Bank statement.
- Certificate on practice for vintage.
- Purpose:
- Term Loan: Purchase of Office Equipment’s, Computers, Fixtures, Fixed assets / Renovating office premises.
- Dropline Overdraft: For payment of salaries to employees, overheads, expenses pertaining to office, or any other working capital purpose.
- Eligibility:
- Minimum Age: 25 Years, Maximum Age: 65 years.
- Minimum 3 years of holding a Certificate of Practice (COP) from ICAI.
- CA with 2-years practice vintage allowed if there are ITR of 2 years available (Loan will be capped to Rs.10 Lakhs in the said scenario).
- ITR of last 2 years along with complete financials.
- Assessment: Case will be processed as per Net Profit or Gross receipts program.
- Zero Foreclosure Charges: Offered to customers who have a valid Udyam certificate and are classified under Micro or Small enterprise with the condition as end-use to be Business Purpose and loan amount not to exceed 50.00 Lakhs.
Standard Pricing Offered for ICAI Members:
|
ROI* |
Processing Fees |
|
Starting 13.00% |
2%* |
(*Prices are subject to change as per Bank’s discretion)
Special Pricing for ICAI Members (Valid for 3 Months):
For Term Loan Offering:
|
Term Loan |
IRR |
PF Applicable |
|
≤ ₹10 Lakhs |
11.10% |
₹9,999 + GST or 0.50% + GST PF (whichever is lower) |
|
> ₹10 Lakhs |
10.60% |
For Dropline Overdraft Offering:
|
DOD |
IRR |
PF Applicable |
|
≤ ₹10 Lakhs |
12.10% |
₹12,499 + GST or 0.50% + GST PF (whichever is lower) |
|
> ₹10 Lakhs |
11.60% |
To avail the benefits, members may please reach to their local HDFC Bank branch.
For the list of HDFC Bank branches PAN India, please [click here].