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Compare Business Loan - DCB vs Kotak

Bank
Parameters
Interest Rate
Interest Rate
13.70% - 18.00%
16.00% - 19.99%
Processing Fees
Processing Fees
2%
Loan Amount
Loan Amount
₹ 0 to ₹ 0
₹ 3 Lakh to ₹ 75 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
24 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,311
₹ 2,432
Part Payment Charges
Part Payment Charges
Allowed after 6 months at 7-36 Months: 4%, >36 Months: 6%
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at 4 - 6%
Allowed after 0 months at 5% charges
Borrower’s Age
Borrower’s Age
25 to 65 Years
25 to 65 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)
Add Bank

Compare EMI of DCB and Kotak Business Loan

Loan Amount DCB Bank Kotak Bank
₹ 1 Lakh ₹ 10,257 ₹ 9,227
₹ 5 Lakh ₹ 51,284 ₹ 46,135
₹ 10 Lakh ₹ 1,02,567 ₹ 92,270
₹ 15 Lakh ₹ 1,53,851 ₹ 1,38,405

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

DCB Bank offers lower Business Loan EMI at 2311 on a Business Loan for 60 Months as compared to Kotak Bank with a minimum EMI of 2432 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 Kotak Bank Business Loan?

A detailed comparison of DCB Bank and Kotak 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 Kotak Bank at 16.00%. 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 Kotak Bank charges a processing fees of .
  • Kotak Bank offers Business Loan upto an amount of ₹ 75 Lakh while DCB Bank offer Business Loan upto an amount of ₹ 0 . Kotak 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. Kotak Bank gives the option to close the loan after Zero months at 5% charges and DCB Bank gives the option to close the loan after 12 months at 4 - 6%. This makes Kotak Bank a better option for Business Loan.
  • DCB Bank allows part payment on Business Loan after 6 months at 7-36 Months: 4%, >36 Months: 6%, while Kotak Bank does not offer part payment facility on Business Loan. This makes DCB Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • DCB Bank and Kotak Bank offer a business loan if your business has completed 0 months. Hence, DCB Bank and Kotak 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 Kotak Bank?

As per the current rates, DCB Bank offers a lower interest rate of 13.70% on Business Loan when compared to Kotak Bank which offers a Business Loan at 16.00%.

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

You can transfer your Business Loan from DCB Bank to Kotak 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 Kotak Bank Business Loan?

You can check your eligibility for DCB Bank and Kotak 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 Kotak Bank Business Loan

Compare DCB Bank Business Loan With Other Banks

Compare Kotak Bank Business Loan With Other Banks

Know About MSMEs and Mudra Loan

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Business Loan News - Jan 2021
  • 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.
*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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