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Compare Business Loan - DCB Bank vs SBI

Bank
Parameters
Interest Rate
Interest Rate
13.70% - 18.00%
11.20% - 16.30%
Processing Fees
Processing Fees
2%
From 2% to 3%
Loan Amount
Loan Amount
₹ 0 to ₹ 0
₹ 5 Lakh to ₹ 100 Cr
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,311
₹ 2,594
Part Payment Charges
Part Payment Charges
Allowed after 6 months at 7-36 Months: 4%, >36 Months: 6%
Allowed after 0 months at 3%
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at 4 - 6%
Allowed after 6 months at 3%
Borrower’s Age
Borrower’s Age
25 to 65 Years
21 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
0 Months
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 0
₹ 20 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.3/5.0
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Compare EMI of DCB Bank and SBI Business Loan

Loan Amount DCB Bank SBI
₹ 1 Lakh ₹ 2,311 ₹ 2,594
₹ 5 Lakh ₹ 11,557 ₹ 12,971
₹ 10 Lakh ₹ 23,113 ₹ 25,943
₹ 15 Lakh ₹ 34,670 ₹ 38,914

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

DCB Bank offers lower Business Loan EMI at 2311 on a Business Loan for 60 Months as compared to SBI with a minimum EMI of 2594 for 48 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 SBI Business Loan compare with DCB Bank Business Loan?

A detailed comparison of SBI 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 SBI Business Loan is 11.20%, which is lower than the lowest interest rate of DCB Bank at 13.70%. Hence, SBI 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 SBI charges a processing fees of From 2% to 3%.
  • SBI offers Business Loan upto an amount of ₹ 100 Cr while DCB Bank offer Business Loan upto an amount of ₹ 0 . SBI 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. SBI gives the option to close the loan after 6 months at 3% and DCB Bank gives the option to close the loan after 12 months at 4 - 6%. This makes SBI a better option for Business Loan.
  • DCB Bank and SBI allow part payment on Business Loan after 6 months at 7-36 Months: 4%, >36 Months: 6%. DCB Bank applies a charge of 7-36 Months: 4%, >36 Months: 6% and SBI charges 3% on Business Loan.
  • DCB Bank gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from SBI is ₹ 20 Lakh. Hence, small businesses may find is easier to get a loan from DCB Bank.
  • DCB Bank can be a better option if you are looking for fund requirements after 0 months. SBI offers a business loan once if business is 36 months old. Hence, DCB Bank should be a preferred choice for relatively new enterprises.
  • SBI has an average customer ratings of 3.3, while has an average customer rating of , based on which it is clear that SBI has a high customer service focus, an easy Business Loan process and a quick turnaround.

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

As per the current rates, SBI offers a lower interest rate of 11.20% on Business Loan when compared to DCB Bank which offers a Business Loan at 13.70%.

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Know About MSMEs and Mudra Loan

Business Loan News - Apr 2021
  • 2021-04-12 : Rs. 15 lakh crores sanctioned under the Mudra Yojna in last 6 years
    The finance ministry reported that banks and financial institutions have sanctioned Rs. 15 lakh crores to over 28.68 crores beneficiaries in the last 6 years. Prime Minister Mudra Yojna or PMMY was launched in April 2015 with an aim to promote entrepreneurship.
  • 2021-04-07 : IIFL Home Finance signs co-lending agreement with Standard Chartered Bank
    IIFL Home Finance and Standard Chartered Bank have entered into a co-lending arrangement for extending credit. Under this agreement, IIFL Home Finance and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.
  • 2021-04-05 : Yes Bank Jan-March deposits up 54% to 162, 947
    Yes Bank reported that the bank’s loan and advances which include home, personal, LAP, gold, two-wheeler, car and doctor loans along with business and mudra loans increased by 0.8% in year-on-year (YoY) terms to Rs. 172,850 crores. In addition to this, the bank deposit which includes fixed and recurring deposits grew 54.7% to Rs. 162,947 crores as compared to ₹105,364 crores on a yearly basis. The CASA(current and savings account) was up 51.8% to Rs. 42,587 crores against Rs. 28,063 crores YoY.
  • 2021-04-05 : Karnataka Bank targeting 1.42 lakh business turnover in FY 22
    Karnataka Bank is looking for 12% business growth in the current fiscal and targeting 1.42 lakh business turnover. The bank emphasised that it is planning to leverage digital banking to achieve its target.
  • 2021-03-26 : Digital Banking likely to play a major role in the banking sector
    RBI Governor emphasised that digital lending is going to play a major role in the coming years and the market will be more technology-dependent. Further, he suggested that banks need to adapt to new technologies and adapt to the changes and transformations which are happening in the world of digital lending to remain in sync with time.
*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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