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Compare Bank of Maharashtra vs Bajaj Finserv Business Loan

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Bank
Interest Rate
Interest Rate
14.50% - 15.50%
18.00% - 22.00%
Processing Fees
Processing Fees
Upto 3% of the loan amount
Upto 2% of loan amount
Loan Amount
Loan Amount
₹ 50,000 to ₹ 1.50 Lakh
₹ 5 Lakh to ₹ 30 Lakh
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,442
₹ 2,937
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 1 month at 2%
Foreclosure Charges
Foreclosure Charges
Not Allowed
Allowed after 1 month at 4%
Eligible Age
Eligible Age
21 to 60 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
NA
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 0
₹ 12 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4/5.0
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Compare Business Loan EMI of Bank of Maharashtra and Bajaj Finserv

Loan Amount Bank of Maharashtra Bajaj Finserv
₹ 1 Lakh ₹ 3,442 ₹ 2,938
₹ 5 Lakh ₹ 17,210 ₹ 14,688
₹ 10 Lakh ₹ 34,421 ₹ 29,375
₹ 15 Lakh ₹ 51,631 ₹ 44,062

Which is a better bank for Business Loan – Bank of Maharashtra or Bajaj Finserv?

Bajaj Finserv offers lower Business Loan EMI at Rs. 2937 for 48 Months compared to Bank of Maharashtra with a minimum EMI of Rs. 3442 for 36 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 Bank of Maharashtra Business Loan compare with Bajaj Finserv Business Loan?

A detailed comparison of Bank of Maharashtra and Bajaj Finserv 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 Maharashtra Loan is 14.50%, which is lower than the lowest interest rate of Bajaj Finserv at 18.00%. Hence, Bank of Maharashtra is offering a cheaper loan option.
  • Compared to other Business Loan charges such as processing fees, Bank of Maharashtra charges a processing fee of Upto 3% of the loan amount, while Bajaj Finserv charges a processing fee of Upto Upto 2% of loan amount.
  • Bajaj Finserv offers Business Loan upto an amount of ₹ 30 Lakh, while Bank of Maharashtra offers Loan upto an amount of ₹ 1.50 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. Bank of Maharashtra gives the option to close the loan after Zero months at , while Bajaj Finserv does not offer foreclosure facility on Business Loan. This makes Bank of Maharashtra a better option for Business Loan.
  • Bajaj Finserv allows part payment on Business Loan after 1 months at 2%, while Bank of Maharashtra 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.
  • Bank of Maharashtra gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from Bajaj Finserv is ₹ 12 Lakh. Hence, small businesses may find is easier to get a loan from Bank of Maharashtra.
  • Bajaj Finserv can be a better option if you are looking for fund requirements after 36 months. Bank of Maharashtra offers a business loan once if business is NA months old. Hence, Bajaj Finserv should be a preferred choice for relatively new enterprises.
  • Bajaj Finserv has an average customer rating of 4. In contrast, has an average customer rating of , based on which it is clear that Bajaj Finserv has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Business Loan – Bank of Maharashtra or Bajaj Finserv?

As per the current rates, Bank of Maharashtra offers a lower interest rate of 14.50% on loans compared to Bajaj Finserv, which offers a Business Loan at 18.00%.

Know all about Business Loan

Know more about Bank of Maharashtra Business Loan

Know more about Bajaj Finserv Business Loan

Compare Bank of Maharashtra Business Loan With Other Banks

Compare Bajaj Finserv Business Loan With Other Banks

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*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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