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Compare Business Loan - Bank of Baroda vs DCB Bank

Bank
Parameters
Interest Rate
Interest Rate
14.10% - 14.10%
13.70% - 18.00%
Processing Fees
Processing Fees
Upto 1.00%
2%
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 2 Lakh
₹ 0 to ₹ 0
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,423
₹ 2,311
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 6 months at 7-36 Months: 4%, >36 Months: 6%
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil prepayment charges
Allowed after 12 months at 4 - 6%
Borrower’s Age
Borrower’s Age
21 to 60 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
0 Months
0 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 0
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
5/5.0
5/5.0
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Compare EMI of Bank of Baroda and DCB Bank Business Loan

Loan Amount Bank of Baroda DCB Bank
₹ 1 Lakh ₹ 3,423 ₹ 2,311
₹ 5 Lakh ₹ 17,113 ₹ 11,557
₹ 10 Lakh ₹ 34,226 ₹ 23,113
₹ 15 Lakh ₹ 51,339 ₹ 34,670

Which is a better bank for Business Loan – DCB Bank or Bank of Baroda?

DCB Bank offers lower Business Loan EMI at 2311 on a Business Loan for 60 Months as compared to Bank of Baroda with a minimum EMI of 3423 for 36 Months. Average customer ratings for DCB Bank is currently at 5/5.0 which makes it a good choice for taking a Business Loan.

How does DCB Bank Business Loan compare with Bank of Baroda Business Loan?

A detailed comparison of DCB Bank and Bank of Baroda 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 DCB Bank Business Loan is 13.70%, which is lower than the lowest interest rate of Bank of Baroda at 14.10%. Hence, DCB Bank is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, Bank of Baroda charges a processing fees of Upto 1.00% while DCB Bank charges a processing fees of 2%.
  • Bank of Baroda offers Business Loan upto an amount of ₹ 2 Lakh while DCB Bank offer Business Loan upto an amount of ₹ 0 . Bank of Baroda can be a better option if you are looking for a high value amount.
  • One feature that makes Business Loan a better option is foreclosure facility. Bank of Baroda gives the option to close the loan after 1 months at Nil prepayment charges and DCB Bank gives the option to close the loan after 12 months at 4 - 6%. This makes Bank of Baroda a better option for Business Loan.
  • DCB Bank allows part payment on Business Loan after 6 months at 7-36 Months: 4%, >36 Months: 6%, while Bank of Baroda does not offer part payment facility on Business Loan. This makes DCB Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • Bank of Baroda and DCB Bank offer a business loan if your business has completed 0 months. Hence, Bank of Baroda and DCB Bank both can be a preferred choice for relatively new enterprises.
  • Bank of Baroda with an average customer ratings of 5 is equally comparable to DCB Bank with an average customer rating of 5. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers lower interest rate on Business Loan – DCB Bank or Bank of Baroda?

As per the current rates, DCB Bank offers a lower interest rate of 13.70% on Business Loan when compared to Bank of Baroda which offers a Business Loan at 14.10%.

Know all about Business Loan

Know more about Bank of Baroda Business Loan

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Compare Bank of Baroda Business Loan With Other Banks

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Know About MSMEs and Mudra Loan

Business Loan News - Apr 2021
  • 2021-04-12 : Rs. 15 lakh crores sanctioned under the Mudra Yojna in last 6 years
    The finance ministry reported that banks and financial institutions have sanctioned Rs. 15 lakh crores to over 28.68 crores beneficiaries in the last 6 years. Prime Minister Mudra Yojna or PMMY was launched in April 2015 with an aim to promote entrepreneurship.
  • 2021-04-07 : IIFL Home Finance signs co-lending agreement with Standard Chartered Bank
    IIFL Home Finance and Standard Chartered Bank have entered into a co-lending arrangement for extending credit. Under this agreement, IIFL Home Finance and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.
  • 2021-04-05 : Yes Bank Jan-March deposits up 54% to 162, 947
    Yes Bank reported that the bank’s loan and advances which include home, personal, LAP, gold, two-wheeler, car and doctor loans along with business and mudra loans increased by 0.8% in year-on-year (YoY) terms to Rs. 172,850 crores. In addition to this, the bank deposit which includes fixed and recurring deposits grew 54.7% to Rs. 162,947 crores as compared to ₹105,364 crores on a yearly basis. The CASA(current and savings account) was up 51.8% to Rs. 42,587 crores against Rs. 28,063 crores YoY.
  • 2021-04-05 : Karnataka Bank targeting 1.42 lakh business turnover in FY 22
    Karnataka Bank is looking for 12% business growth in the current fiscal and targeting 1.42 lakh business turnover. The bank emphasised that it is planning to leverage digital banking to achieve its target.
  • 2021-03-26 : Digital Banking likely to play a major role in the banking sector
    RBI Governor emphasised that digital lending is going to play a major role in the coming years and the market will be more technology-dependent. Further, he suggested that banks need to adapt to new technologies and adapt to the changes and transformations which are happening in the world of digital lending to remain in sync with time.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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