MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹1,000* on Business Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare Business Loan - Bank of Baroda vs HDFC Bank

Bank
Parameters
Interest Rate
Interest Rate
14.10% - 14.10%
15.65% - 21.35%
Processing Fees
Processing Fees
Upto 1.00%
Starting from 0.99%, Max 2.50%
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 2 Lakh
₹ 50,000 to ₹ 50 Lakh
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,423
₹ 2,816
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil prepayment charges
Allowed after 12 months at 2 - 4%
Borrower’s Age
Borrower’s Age
21 to 60 Years
21 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
0 Months
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 0
₹ 1 Cr
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
5/5.0
4.5/5.0
Add Bank

Compare EMI of Bank of Baroda and HDFC Bank Business Loan

Loan Amount Bank of Baroda HDFC Bank
₹ 1 Lakh ₹ 3,423 ₹ 2,816
₹ 5 Lakh ₹ 17,113 ₹ 14,081
₹ 10 Lakh ₹ 34,226 ₹ 28,161
₹ 15 Lakh ₹ 51,339 ₹ 42,242

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

HDFC Bank offers lower Business Loan EMI at 2816 on a Business Loan for 48 Months as compared to Bank of Baroda with a minimum EMI of 3423 for 36 Months. Average customer ratings for HDFC Bank is currently at 4.5/5.0 which makes it a good choice for taking a Business Loan.

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

A detailed comparison of Bank of Baroda and HDFC Bank 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 Bank of Baroda Business Loan is 14.10%, which is lower than the lowest interest rate of HDFC Bank at 15.65%. Hence, Bank of Baroda 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 HDFC Bank charges a processing fees of Starting from 0.99%, Max 2.50%.
  • HDFC Bank offers Business Loan upto an amount of ₹ 50 Lakh while Bank of Baroda offer Business Loan upto an amount of ₹ 2 Lakh. HDFC Bank 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 HDFC Bank gives the option to close the loan after 12 months at 2 - 4%. This makes Bank of Baroda a better option for Business Loan.
  • Bank of Baroda gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from HDFC Bank is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from Bank of Baroda.
  • Bank of Baroda can be a better option if you are looking for fund requirements after 0 months. HDFC Bank offers a business loan once if business is 36 months old. Hence, Bank of Baroda should be a preferred choice for relatively new enterprises.
  • Bank of Baroda has an average customer ratings of 5, while HDFC Bank has an average customer rating of 4.5, based on which it is clear that Bank of Baroda has a high customer service focus, an easy Business Loan process and a quick turnaround.

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

As per the current rates, Bank of Baroda offers a lower interest rate of 14.10% on Business Loan when compared to HDFC Bank which offers a Business Loan at 15.65%.

Know all about Business Loan

Know more about Bank of Baroda Business Loan

Know more about HDFC Bank Business Loan

Compare Bank of Baroda Business Loan With Other Banks

Compare HDFC Bank Business Loan With Other Banks

Know About MSMEs and Mudra Loan

Business Loan News - Apr 2021
  • 2021-04-13 : Bandhan Bank’s collection efficiency ratio at 96% in Q4
    Bandhan Bank reported an overall collection efficiency of 96% for the quarter ending March 2021. Total advances which include retail loans like home, personal, business, car, two-wheeler education and doctor loan along with business and mudra loans grew by 21% at ₹87,054 crores. Deposits which includes fixed and recurring deposits grew by 37% at ₹77,972 crores. Further, CASA deposits increased by 61 per cent at ₹33,827 crores.
  • 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.
*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
Loader
Please wait while your information is being processed...