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Compare Business Loan - Corporation Bank vs Bajaj Finserv

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Bank
Parameters
Interest Rate
Interest Rate
13.55% - 14.55%
18.00% - 22.00%
Processing Fees
Processing Fees
1.5%, Min Rs. 500
Upto 2% of loan amount
Loan Amount
Loan Amount
₹ 2 Lakh to ₹ 5 Cr
₹ 5 Lakh to ₹ 30 Lakh
Loan Tenure
Loan Tenure
12 to 84 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,849
₹ 2,937
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 1 month at 2%
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 1 month at 4%
Eligible Age
Eligible Age
21 to 58 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
12 Months
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 EMI of Corporation Bank and Bajaj Finserv Business Loan

Loan Amount Corporation Bank Bajaj Finserv
₹ 1 Lakh ₹ 1,849 ₹ 2,938
₹ 5 Lakh ₹ 9,246 ₹ 14,688
₹ 10 Lakh ₹ 18,492 ₹ 29,375
₹ 15 Lakh ₹ 27,738 ₹ 44,062

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

Corporation Bank offers lower Business Loan EMI at 1849 on a Business Loan for 84 Months as compared to Bajaj Finserv with a minimum EMI of 2937 for 48 Months. Average customer ratings for Corporation Bank is currently at /5.0 which makes it a good choice for taking a Business Loan.

How does Corporation Bank Business Loan compare with Bajaj Finserv Business Loan?

A detailed comparison of Corporation Bank 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 Corporation Bank Business Loan is 13.55%, which is lower than the lowest interest rate of Bajaj Finserv at 18.00%. Hence, Corporation Bank is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, Corporation Bank charges a processing fees of 1.5%, Min Rs. 500 while Bajaj Finserv charges a processing fees of Upto 2% of loan amount.
  • Corporation Bank offers Business Loan upto an amount of ₹ 5 Cr while Bajaj Finserv offer Business Loan upto an amount of ₹ 30 Lakh. Corporation 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. Corporation Bank gives the option to close the loan after Zero months at Nil prepayment charges and Bajaj Finserv gives the option to close the loan after 1 months at 4%. This makes Corporation Bank a better option for Business Loan.
  • Bajaj Finserv and Corporation Bank allow part payment on Business Loan after 1 months at 2%. Bajaj Finserv applies a charge of 2% and Corporation Bank charges Nil charges on Business Loan.
  • Corporation Bank 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 Corporation Bank.
  • Corporation Bank can be a better option if you are looking for fund requirements after 12 months. Bajaj Finserv offers a business loan once if business is 36 months old. Hence, Corporation Bank should be a preferred choice for relatively new enterprises.
  • Bajaj Finserv has an average customer ratings of 4, while has an average customer rating of , based on which it is clear that Bajaj Finserv has a high customer service focus, an easy Business Loan process and a quick turnaround.

Which bank offers lower interest rate on Business Loan – Corporation Bank or Bajaj Finserv?

As per the current rates, Corporation Bank offers a lower interest rate of 13.55% on Business Loan when compared to Bajaj Finserv which offers a Business Loan at 18.00%.

Know all about Business Loan

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Know more about Bajaj Finserv Business Loan

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Business Loan News - Jul 2021
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
    Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
*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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