Compare Business Loan - DCB vs Andhra Bank
| 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
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 13.70% - 18.00% |
15.75% - 16.00% |
| Processing Fees | Processing Fees 2% |
Case to Case |
| Loan Amount | Loan Amount ₹ 0 to ₹ 0 |
₹ 50,000 to ₹ 5 Lakh |
| Loan Tenure | Loan Tenure 12 to 60 Months |
12 to 60 Months |
| Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 2,311 |
₹ 2,419 |
| Part Payment Charges | Part Payment Charges Allowed after 6 months at 7-36 Months: 4%, >36 Months: 6% |
Allowed after 0 months at Nil prepayment charges |
| Foreclosure Charges | Foreclosure Charges Allowed after 12 months at 4 - 6% |
Allowed after 0 months at Nil prepayment charges |
| Borrower’s Age | Borrower’s Age 25 to 65 Years |
21 to 55 Years |
| Minimum Years in Business Required | Minimum Years in Business Required 0 Months |
0 Months |
| Minimum Turnover Required | Minimum Turnover Required ₹ 0 |
₹ 0 |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
|
Compare EMI of DCB and Andhra Bank Business Loan
| Loan Amount | DCB Bank | Andhra Bank |
|---|---|---|
| ₹ 1 Lakh | ₹ 10,257 | ₹ 9,324 |
| ₹ 5 Lakh | ₹ 51,284 | ₹ 46,619 |
| ₹ 10 Lakh | ₹ 1,02,567 | ₹ 93,237 |
| ₹ 15 Lakh | ₹ 1,53,851 | ₹ 1,39,856 |
Which is a better bank for Business Loan – DCB Bank or Andhra Bank?
DCB Bank offers lower Business Loan EMI at 2311 on a Business Loan for 60 Months as compared to Andhra Bank with a minimum EMI of 2419 for 60 Months. Average customer ratings for DCB 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 Andhra Bank Business Loan?
A detailed comparison of DCB Bank and Andhra 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 13.70%, which is lower than the lowest interest rate of Andhra Bank at 15.75%. 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 2% while Andhra Bank charges a processing fees of Case to Case.
- Andhra Bank offers Business Loan upto an amount of ₹ 5 Lakh while DCB Bank offer Business Loan upto an amount of ₹ 0 . Andhra 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. Andhra 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 Andhra Bank a better option for Business Loan.
- Andhra Bank and DCB Bank allow part payment on Business Loan after Zero months at Nil charges. Andhra Bank applies a charge of Nil charges and DCB Bank charges 7-36 Months: 4%, >36 Months: 6% on Business Loan.
- Andhra Bank and DCB Bank offer a business loan if your business has completed 0 months. Hence, Andhra Bank and DCB Bank both can 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 Andhra Bank?
As per the current rates, DCB Bank offers a lower interest rate of 13.70% on Business Loan when compared to Andhra Bank which offers a Business Loan at 15.75%.
How can I transfer my Business Loan from DCB Bank to Andhra Bank?
You can transfer your Business Loan from DCB Bank to Andhra 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, DCB Bank offers the cheapest Business Loan at 13.70%.
How do I check my eligibility for DCB Bank and Andhra Bank Business Loan?
You can check your eligibility for DCB Bank and Andhra 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 DCB Bank Business Loan
Know more about Andhra Bank Business Loan
Compare DCB Bank Business Loan With Other Banks
Compare Andhra Bank Business Loan With Other Banks
Know About MSMEs and Mudra Loan
- 2021-01-27 : Kotak Mahindra Bank Q3 net profit up 16%
Kotak Mahindra Bank posted a net profit of Rs 1,853.5 crore as against Rs 1,595.90 crore last year. The bank reported a growth of 16% on a year-on-year basis backed by home, personal, car, two wheeler and gold loan along with business and mudra loans. - 2021-01-27 : DCB Bank reported Q3 profit at ₹96.21 crore
DCB Bank posted a net profit of ₹96.21 crore for the third quarter ended December 2020. Further, it reported a total income of ₹1,023.86 crore backed by home, personal, car, two wheeler and gold loan along with business and mudra loans. - 2021-01-27 : Sundaram Home Finance Q3 net rose by 36%
Sundaram Home Finance posted a 36% growth in its net profit for Q3 to Rs 56.24cror. Disbursements for Q3 stood at Rs 4,16.57 crore backed by home, personal, car, two wheeler and gold loans along with business and mudra loans. - 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.
