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Compare Bank of Baroda vs RBL Bank Business Loan

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Bank
Interest Rate
Interest Rate
14.10% - 14.10%
18.50% - 21.00%
Processing Fees
Processing Fees
Upto 1.00%
2.50-3.00% of loan amount
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 2 Lakh
₹ 1 Lakh to ₹ 10 Lakh
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,423
₹ 3,640
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 NIL foreclosure charges
Eligible Age
Eligible Age
21 to 60 Years
27 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
NA
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 0
₹ 1 Cr
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
5/5.0
5/5.0
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Compare Business Loan EMI of Bank of Baroda and RBL Bank

Loan Amount Bank of Baroda RBL Bank
₹ 1 Lakh ₹ 3,423 ₹ 3,640
₹ 5 Lakh ₹ 17,113 ₹ 18,202
₹ 10 Lakh ₹ 34,226 ₹ 36,404
₹ 15 Lakh ₹ 51,339 ₹ 54,606

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

Bank of Baroda offers lower Business Loan EMI at Rs. 3423 for 36 Months compared to RBL Bank with a minimum EMI of Rs. 3640 for 36 Months. In addition, average customer ratings for Bank of Baroda is currently at 5/5.0, making it a good choice for taking a Business Loan.

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

A detailed comparison of Bank of Baroda and RBL 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 Loan is 14.10%, which is lower than the lowest interest rate of RBL Bank at 18.50%. Hence, Bank of Baroda is offering a cheaper loan option.
  • Compared to other Business Loan charges such as processing fees, Bank of Baroda charges a processing fee of Upto 1.00%, while RBL Bank charges a processing fee of Upto 2.50-3.00% of loan amount.
  • RBL Bank offers Business Loan upto an amount of ₹ 10 Lakh, while Bank of Baroda offers Loan upto an amount of ₹ 2 Lakh. Therefore, RBL 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 the foreclosure facility. Bank of Baroda gives the option to close the loan after 1 months at Nil prepayment charges and RBL Bank gives the option to close the loan after 12 months at NIL foreclosure charges . 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 RBL Bank is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from Bank of Baroda.
  • RBL Bank can be a better option if you are looking for fund requirements after 36 months. Bank of Baroda offers a business loan once if business is NA months old. Hence, RBL Bank should be a preferred choice for relatively new enterprises.
  • Bank of Baroda with an average customer rating of 5 is equally comparable to RBL 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 a lower interest rate on Business Loan – Bank of Baroda or RBL Bank?

As per the current rates, Bank of Baroda offers a lower interest rate of 14.10% on loans compared to RBL Bank, which offers a Business Loan at 18.50%.

Know all about Business Loan

Know more about Bank of Baroda Business Loan

Know more about RBL Bank Business Loan

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Business Loan News - Oct 2021
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    Private sector bank, HDFC Bank has posted a 17.6 percent rise in net profit at Rs 8,834.3 crore in the second quarter ended September 30, 2021. The lender had posted a net profit of Rs 7,513.1 crore in Q2 of 2020.
  • 2021-10-11 : IIFL Finance Launches Instant Business Loan
    IIFL Finance has launched instant business loans on WhatsApp to avail of loan amount upto Rs. 10 Lakhs with benefits such as minimum documentation and quick approval.
  • 2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
    IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
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    HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
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    Yes Bank has posted growth of 3.6% (year-on-year) in advances at Rs 1,72,945 crore for the quarter ended September 2021 (Q2FY22). Its advances stood at Rs 1,66,923 crore at end of September 2020 (Q2FY21).
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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