Compare Business Loan - DCB Bank vs Allahabad Bank

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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 Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda	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 Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda
Parameters
Interest Rate	Interest Rate 9.25% - 16.00%	14.50% - 18.60%
Processing Fees	Processing Fees Upto 2% of the loan amount	Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928
Loan Amount	Loan Amount ₹ 1 Lakh to ₹ 40 Lakh	₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure	Loan Tenure 12 to 60 Months	12 to 84 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,088	₹ 1,902
Part Payment Charges	Part Payment Charges Allowed after 6 months at 7-36 Months: 4%, >36 Months: 6%	Allowed after 0 months at 2.25%
Foreclosure Charges	Foreclosure Charges Allowed after 12 months at 4 - 6%	Allowed after 0 months at 2.25%
Eligible Age	Eligible Age 25 to 65 Years	25 to 65 Years
Minimum Years in Business Required	Minimum Years in Business Required 0 Months	36 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 50 Lakh	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)

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Compare EMI of DCB Bank and Allahabad Bank Business Loan

Loan Amount	DCB Bank	Allahabad Bank
₹ 1 Lakh	₹ 2,088	₹ 1,902
₹ 5 Lakh	₹ 10,440	₹ 9,509
₹ 10 Lakh	₹ 20,880	₹ 19,017
₹ 15 Lakh	₹ 31,320	₹ 28,526

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

Allahabad Bank offers lower Business Loan EMI at 1902 on a Business Loan for 84 Months as compared to DCB Bank with a minimum EMI of 2088 for 60 Months. Average customer ratings for Allahabad Bank is currently at /5.0 which makes it a good choice for taking a Business Loan.

How does DCB Bank Business Loan compare with Allahabad Bank Business Loan?

A detailed comparison of DCB Bank and Allahabad 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 DCB Bank Business Loan is 9.25%, which is lower than the lowest interest rate of Allahabad Bank at 14.50%. Hence, DCB Bank is offering a cheaper loan option.
When compared on other Business Loan charges such as processing fees, DCB Bank charges a processing fees of Upto 2% of the loan amount while Allahabad Bank charges a processing fees of Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928.
DCB Bank offers Business Loan upto an amount of ₹ 40 Lakh while Allahabad Bank offer Business Loan upto an amount of ₹ 20 Lakh. DCB 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. Allahabad Bank gives the option to close the loan after Zero months at 2.25% and DCB Bank gives the option to close the loan after 12 months at 4 - 6%. This makes Allahabad Bank a better option for Business Loan.
Allahabad Bank and DCB Bank allow part payment on Business Loan after Zero months at 2.25%. Allahabad Bank applies a charge of 2.25% and DCB Bank charges 7-36 Months: 4%, >36 Months: 6% on Business Loan.
Allahabad Bank gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from DCB Bank is ₹ 50 Lakh. Hence, small businesses may find is easier to get a loan from Allahabad Bank.
DCB Bank can be a better option if you are looking for fund requirements after 0 months. Allahabad Bank offers a business loan once if business is 36 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 – DCB Bank or Allahabad Bank?

As per the current rates, DCB Bank offers a lower interest rate of 9.25% on Business Loan when compared to Allahabad Bank which offers a Business Loan at 14.50%.

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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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