Dewan Housing Finance Corporation Ltd. (DHFL) is a major housing finance company in India. It was founded in 1984 and is headquarters in Mumbai. After firmly establishing itself in the housing sector, the company has also started to cater to businesses and MSMEs in need of finance for growth and expansion. The company offers many different products to suit the unique requirements of Indian businesses.
DHFL Business Loan Features
- Business loan amounts of up to ₹35 lakhs
- Loans can be taken for a maximum term of 5 years
- No collateral or guarantor required for business loans
- Self-employed individuals, doctors and entities, such as proprietorship, limited companies, private limited companies, partnership and limited liability partnership can apply for business loans with DHFL.
- The required documentation for loan application includes proof of identity (PAN, Aadhaar, Voter ID), proof of address (passport, PAN, Voter ID, Aadhaar) and income proof (income tax returns, bank statements, last two years’ financials plus audit report).
- You can also take a loan against a residential or commercial property to aid your business venture. The maximum term for such loans is 15 years.
- Processing fee of 2%, plus the applicable GST.
- Prepayment of loan is not permitted till 6 months of the date of agreement. After that, foreclosure is allowed and charges vary according to the duration (5% for 7 to 24 months, 3% for 25 to 36 months, and 2% for 37 months and above).
- Part-prepayment of loan is not allowed
- Many customers have expressed dissatisfaction with the customer services
- Easily available unsecured loans
- Different products to suit varied business needs.
- No option for part-prepayment
- Mixed reviews regarding customer services
Do you have any experience with DHFL business loans? Please share your feedback with us in comments below.
DHFL Business Loans
With not many distinguishing features and a maximum loan amount of ₹35 lakhs, is DHFL’s business loan really worth it? Read on to find out.