Compare Bajaj Finserv vs Neogrowth Business Loan

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Bank	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Lendingkart Bajaj Finserv IDFC First Bank IIFL Bank of Maharashtra IndusInd Bank Kotak Bank Fullerton India IDBI Bank Ftcash Indifi Allahabad Bank Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Lendingkart IDFC First Bank IIFL Bank of Maharashtra IndusInd Bank Kotak Bank Fullerton India Ftcash Indifi IDBI Bank Neogrowth Yes Bank Allahabad Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda
Interest Rate	Interest Rate 18.00% - 22.00%	24.00% - 0.00%
Processing Fees	Processing Fees Upto 2% of loan amount	Upto 3% of loan amount
Loan Amount	Loan Amount ₹ 5 Lakh to ₹ 30 Lakh	₹ 1 Lakh to ₹ 8 Lakh
Loan Tenure	Loan Tenure 12 to 48 Months	9 to 24 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,937	₹ 5,287
Part Payment Charges	Part Payment Charges Allowed after 1 month at 2%	Not Allowed
Foreclosure Charges	Foreclosure Charges Allowed after 1 month at 4%	Allowed after 1 month at Nil charges
Eligible Age	Eligible Age 25 to 65 Years	23 to 65 Years
Minimum Years in Business Required	Minimum Years in Business Required 36 Months	12 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 12 Lakh	₹ 24 Lakh
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4/5.0	4/5.0

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Compare Business Loan EMI of Bajaj Finserv and Neogrowth

Loan Amount	Bajaj Finserv	Neogrowth
₹ 1 Lakh	₹ 2,938	₹ 5,287
₹ 5 Lakh	₹ 14,688	₹ 26,436
₹ 10 Lakh	₹ 29,375	₹ 52,871
₹ 15 Lakh	₹ 44,062	₹ 79,307

Which is a better bank for Business Loan – Bajaj Finserv or Neogrowth?

Bajaj Finserv offers lower Business Loan EMI at Rs. 2937 for 48 Months compared to Neogrowth with a minimum EMI of Rs. 5287 for 24 Months. In addition, average customer ratings for Bajaj Finserv is currently at 4/5.0, making it a good choice for taking a Business Loan.

How does Bajaj Finserv Business Loan compare with Neogrowth Business Loan?

A detailed comparison of Bajaj Finserv and Neogrowth Business Loan on various terms and conditions highlight key differences in their offerings and allows the customer to take an choose the best bank for Business Loan. Results of a comparative analysis between both banks highlight that:

Lowest Interest rate of Bajaj Finserv Loan is 18.00%, which is lower than the lowest interest rate of Neogrowth at 24.00%. Hence, Bajaj Finserv is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, Bajaj Finserv charges a processing fee of Upto 2% of loan amount, while Neogrowth charges a processing fee of Upto Upto 3% of loan amount.
Bajaj Finserv offers Business Loan upto an amount of ₹ 30 Lakh, while Neogrowth offers Loan upto an amount of ₹ 8 Lakh. Therefore, Bajaj Finserv can be a better option if you are looking for a high value amount.
One feature that makes Business Loan a better option is the foreclosure facility. Bajaj Finserv and Neogrowth gives the option to close the loan after 1 months at 4% and Nil charges. This makes Bajaj Finserv a better option for Business Loan.
Bajaj Finserv allows part payment on Business Loan after 1 months at 2%, while Neogrowth does not offer a part payment facility. This makes Bajaj Finserv a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
Bajaj Finserv gives business loan at a minimum turnover of ₹ 12 Lakh. However, the turnover requirement for a business loan from Neogrowth is ₹ 24 Lakh. Hence, small businesses may find is easier to get a loan from Bajaj Finserv.
Neogrowth can be a better option if you are looking for fund requirements after 12 months. Bajaj Finserv offers a business loan once if business is 36 months old. Hence, Neogrowth should be a preferred choice for relatively new enterprises.
Bajaj Finserv with an average customer rating of 4 is equally comparable to Neogrowth with an average customer rating of 4. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Business Loan – Bajaj Finserv or Neogrowth?

As per the current rates, Bajaj Finserv offers a lower interest rate of 18.00% on loans compared to Neogrowth, which offers a Business Loan at 24.00%.

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