Compare Bank of Maharashtra vs Bank of Baroda 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 Ftcash Indifi Neogrowth IDBI Bank Allahabad Bank Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Lendingkart Bajaj Finserv IDFC First Bank IIFL 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 14.50% - 15.50%	14.10% - 14.10%
Processing Fees	Processing Fees Upto 3% of the loan amount	Upto 1.00%
Loan Amount	Loan Amount ₹ 50,000 to ₹ 1.50 Lakh	₹ 1 Lakh to ₹ 2 Lakh
Loan Tenure	Loan Tenure 12 to 36 Months	12 to 36 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,442	₹ 3,423
Part Payment Charges	Part Payment Charges Not Allowed	Not Allowed
Foreclosure Charges	Foreclosure Charges Not Allowed	Allowed after 1 month at Nil prepayment charges
Eligible Age	Eligible Age 21 to 60 Years	21 to 60 Years
Minimum Years in Business Required	Minimum Years in Business Required NA	NA
Minimum Turnover Required	Minimum Turnover Required ₹ 0	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	5/5.0

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Compare Business Loan EMI of Bank of Maharashtra and Bank of Baroda

Loan Amount	Bank of Maharashtra	Bank of Baroda
₹ 1 Lakh	₹ 3,442	₹ 3,423
₹ 5 Lakh	₹ 17,210	₹ 17,113
₹ 10 Lakh	₹ 34,421	₹ 34,226
₹ 15 Lakh	₹ 51,631	₹ 51,339

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

Bank of Baroda offers lower Business Loan EMI at Rs. 3423 for 36 Months compared to Bank of Maharashtra with a minimum EMI of Rs. 3442 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 Bank of Maharashtra Business Loan?

A detailed comparison of Bank of Baroda and Bank of Maharashtra 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 Bank of Maharashtra at 14.50%. Hence, Bank of Baroda 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 Bank of Baroda charges a processing fee of Upto Upto 1.00%.
Bank of Baroda offers Business Loan upto an amount of ₹ 2 Lakh, while Bank of Maharashtra offers Loan upto an amount of ₹ 1.50 Lakh. Therefore, 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 the foreclosure facility. Bank of Maharashtra gives the option to close the loan after Zero months at , while Bank of Baroda does not offer foreclosure facility on Business Loan. This makes Bank of Maharashtra a better option for Business Loan.
Bank of Baroda and Bank of Maharashtra offer a business loan if your business has completed NA months. Hence, Bank of Baroda and Bank of Maharashtra both can be a preferred choice for relatively new enterprises.
Bank of Baroda has an average customer rating of 5. In contrast, has an average customer rating of , based on which it is clear that Bank of Baroda 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 Baroda or Bank of Maharashtra?

As per the current rates, Bank of Baroda offers a lower interest rate of 14.10% on loans compared to Bank of Maharashtra, which offers a Business Loan at 14.50%.

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Business Loan News - Aug 2022

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The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
2022-05-03 : HDFC Profit Rises by 16% for Q4 of FY 2022
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The bank has reported a 54 percent jump in its standalone net profit to Rs 4,117.77 crore from a net profit of Rs 2,677.06 crore in the year-ago period for the quarter ended March 2022.
2022-04-29 : ICICI Bank Launches Digital Ecosystem for MSMEs
The new digital ecosystem comprises three pillars, including enhanced banking services for existing customers, MSMEs who are customers of other banks, and other value-added services for all.
2022-04-28 : Union Bank Rolls out Automated Solution for Recovery of Bad Loans
Union Bank of India will be using a first-of-its-kind stressed asset recovery automated solution (SARAS) to help the bank enforce securities, track recoveries, and enhance monitoring of stressed assets.

*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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