Compare Dhan Laxmi Bank vs Bank of Baroda Business Loan

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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 Allahabad Bank Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate 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 DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda
Interest Rate	Interest Rate 10.50% - 13.10%	14.10% - 14.10%
Processing Fees	Processing Fees Upto 3% of the loan amount	Upto 1.00%
Loan Amount	Loan Amount ₹ 10 Lakh to ₹ 5 Cr	₹ 1 Lakh to ₹ 2 Lakh
Loan Tenure	Loan Tenure 12 to 60 Months	12 to 36 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,149	₹ 3,423
Part Payment Charges	Part Payment Charges Allowed after 6 months at 3%	Not Allowed
Foreclosure Charges	Foreclosure Charges Allowed after 0 months at 2 - 5%	Allowed after 1 month at Nil prepayment charges
Eligible Age	Eligible Age 23 to 65 Years	21 to 60 Years
Minimum Years in Business Required	Minimum Years in Business Required 48 Months	NA
Minimum Turnover Required	Minimum Turnover Required ₹ 0	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	5/5.0

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Compare Business Loan EMI of Dhan Laxmi Bank and Bank of Baroda

Loan Amount	Dhan Laxmi Bank	Bank of Baroda
₹ 1 Lakh	₹ 2,149	₹ 3,423
₹ 5 Lakh	₹ 10,747	₹ 17,113
₹ 10 Lakh	₹ 21,494	₹ 34,226
₹ 15 Lakh	₹ 32,241	₹ 51,339

Which is a better bank for Business Loan – Dhan Laxmi Bank or Bank of Baroda?

Dhan Laxmi Bank offers lower Business Loan EMI at Rs. 2149 for 60 Months compared to Bank of Baroda with a minimum EMI of Rs. 3423 for 36 Months. In addition, average customer ratings for Dhan Laxmi Bank is currently at /5.0, making it a good choice for taking a Business Loan.

How does Dhan Laxmi Bank Business Loan compare with Bank of Baroda Business Loan?

A detailed comparison of Dhan Laxmi Bank and Bank of Baroda 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 Dhan Laxmi Bank Loan is 10.50%, which is lower than the lowest interest rate of Bank of Baroda at 14.10%. Hence, Dhan Laxmi Bank is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, Dhan Laxmi Bank charges a processing fee of Upto 3% of the loan amount, while Bank of Baroda charges a processing fee of Upto Upto 1.00%.
Dhan Laxmi Bank offers Business Loan upto an amount of ₹ 5 Cr, while Bank of Baroda offers Loan upto an amount of ₹ 2 Lakh. Therefore, Dhan Laxmi 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 the foreclosure facility. Dhan Laxmi Bank gives the option to close the loan after Zero months at 2 - 5% and Bank of Baroda gives the option to close the loan after 1 months at Nil prepayment charges. This makes Dhan Laxmi Bank a better option for Business Loan.
Dhan Laxmi Bank allows part payment on Business Loan after 6 months at 3%, while Bank of Baroda does not offer a part payment facility. This makes Dhan Laxmi Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
Dhan Laxmi Bank can be a better option if you are looking for fund requirements after 48 months. Bank of Baroda offers a business loan once if business is NA months old. Hence, Dhan Laxmi Bank should be a preferred choice for relatively new enterprises.
Bank of Baroda has an average customer rating of 5. In contrast, has an average customer rating of , based on which it is clear that Bank of Baroda has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Business Loan – Dhan Laxmi Bank or Bank of Baroda?

As per the current rates, Dhan Laxmi Bank offers a lower interest rate of 10.50% on loans compared to Bank of Baroda, which offers a Business Loan at 14.10%.

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Compare Dhan Laxmi Bank Business Loan With Other Banks

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