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Compare Business Loan - Corporation vs DCB

Bank
Parameters
Interest Rate
Interest Rate
13.55% - 14.55%
13.70% - 18.00%
Processing Fees
Processing Fees
1.5%, Min Rs. 500
2%
Loan Amount
Loan Amount
₹ 2 Lakh to ₹ 5 Cr
₹ 0 to ₹ 0
Loan Tenure
Loan Tenure
12 to 84 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,849
₹ 2,311
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 6 months at 7-36 Months: 4%, >36 Months: 6%
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 12 months at 4 - 6%
Borrower’s Age
Borrower’s Age
21 to 58 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
12 Months
0 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 0
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Corporation and DCB Business Loan

Loan Amount Corporation Bank DCB Bank
₹ 1 Lakh ₹ 11,663 ₹ 10,257
₹ 5 Lakh ₹ 58,315 ₹ 51,284
₹ 10 Lakh ₹ 1,16,629 ₹ 1,02,567
₹ 15 Lakh ₹ 1,74,944 ₹ 1,53,851

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

Corporation Bank offers lower Business Loan EMI at 1849 on a Business Loan for 84 Months as compared to DCB Bank with a minimum EMI of 2311 for 60 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 DCB Bank Business Loan?

A detailed comparison of Corporation Bank and DCB 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 Corporation Bank Business Loan is 13.55%, which is lower than the lowest interest rate of DCB Bank at 13.70%. 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 DCB Bank charges a processing fees of 2%.
  • Corporation Bank offers Business Loan upto an amount of ₹ 5 Cr while DCB Bank offer Business Loan upto an amount of ₹ 0 . 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 DCB Bank gives the option to close the loan after 12 months at 4 - 6%. This makes Corporation Bank a better option for Business Loan.
  • Corporation Bank and DCB Bank allow part payment on Business Loan after Zero months at Nil charges. Corporation Bank applies a charge of Nil charges and DCB Bank charges 7-36 Months: 4%, >36 Months: 6% on Business Loan.
  • DCB Bank can be a better option if you are looking for fund requirements after 0 months. Corporation Bank offers a business loan once if business is 12 months old. Hence, DCB Bank should be a preferred choice for relatively new enterprises.
  • with an average customer ratings of is equally comparable to with an average customer rating of . Hence, the customer can expect the same kind of service levels from these banks.

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

As per the current rates, Corporation Bank offers a lower interest rate of 13.55% on Business Loan when compared to DCB Bank which offers a Business Loan at 13.70%.

How can I transfer my Business Loan from Corporation Bank to DCB Bank?

You can transfer your Business Loan from Corporation Bank to DCB Bank with a Business Loan balance transfer. For this, you need to follow a specific procedure that involves clearing off dues, getting a NOC, application to a new bank, getting approval, etc. The Business Loan balance transfer is an excellent way to reduce the loan burden as you can switch to a lower Business Loan interest rate.

How can I choose the best bank for Business Loan?

You can choose the best bank for a Business Loan by making a detailed comparison between top lenders on the basis of interest rates, processing fee or Business Loan offers. Apart from that, you can visit online marketplaces like MyLoanCare to choose the best Business Loan offer. Here, you will get the option of choosing the best bank amongst the shortlisted ones based on your loan requirement.

Which type of Business Loan is the cheapest?

The cheapest Business Loan is the one that is offered at the lowest Business Loan interest rates. This is because the lowest Business Loan interest rates mean the lowest EMI, as the interest charged will be less. Thus, these loans can be attained with the least repayment burden. Currently, Corporation Bank offers the cheapest Business Loan at 13.55%.

How do I check my eligibility for Corporation Bank and DCB Bank Business Loan?

You can check your eligibility for Corporation Bank and DCB Bank Business Loan by using MyLoanCare Business Loan eligibility calculator. You have to enter details like required loan amount, profession, annual profit, work experience etc to check the amount of loan you are eligible for. You can apply loan for the eligible amount to repay the EMI you can comfortably service.

Know all about Business Loan

Know more about Corporation Bank Business Loan

Know more about DCB Bank Business Loan

Compare Corporation Bank Business Loan With Other Banks

Compare DCB Bank Business Loan With Other Banks

Know About MSMEs and Mudra Loan

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Business Loan News - Jan 2021
  • 2021-01-25 : Indian Bank posted Q3FY21 net profit at Rs. 526.31 crore
    Indian Bank reported a total income of Rs.11571.33 crores backed by home, personal,education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted net profit of Rs.526.31 crores for the period ended December 31, 2020 as against net profit of Rs.424.14 crores for the period ended September 30, 2020.
  • 2021-01-25 : South India Bank reported 3FY21 loss at Rs. 91.62 crore
    South Indian Bank reported a total income of Rs.2082.08 crores backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted a net loss of Rs.91.6 crores for the period ended December 31, 2020.
  • 2021-01-25 : Bajaj Finserv Q3 results net profit rises 15% to Rs 1,290 crore
    Bajaj Finserv posted a 15% year-on-year rise in its net profit to Rs 1,290 crore in the quarter ended December, backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans Further, the bank’s revenues climbed 10% year-on-year to Rs 15,960.7 crore.
  • 2021-01-19 : Bank of Maharashtra reported Q3 profit up of ₹154 crore
    Bank of Maharashtra reported a net profit of Rs. ₹154 crores in the third quarter ended December 31, 2020, against ₹135 crores in the year-ago quarter. Advances that include home, personal, car, two-wheeler and gold loan along with business and mudra loans increased by 12 per cent year-on-year to ₹1,04,904 crore. Further, deposits which include FD and Rds increased by 14% to ₹1,61,971 crore. The share of the low-cost current account, savings account (CASA) deposits improved to 50.91% of total deposits from 50.51% in the preceding quarter.
  • 2021-01-18 : Karnataka Bank Q3 net profit rises to ₹135 cr
    Karnataka Bank posted a net profit of Rs 135 crore for the December quarter of current financial year with a growth rate of 10%. Further, net interest income rose 21% to ₹614 crore from ₹508 crore in Q3FY20.
*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
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