Compare Business Loan - Dhan Laxmi Bank vs Bank of Baroda

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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
Parameters
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	0 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 0	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	5/5.0

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

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 2149 on a Business Loan for 60 Months as compared to Bank of Baroda with a minimum EMI of 3423 for 36 Months. Average customer ratings for Dhan Laxmi Bank is currently at /5.0 which makes 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 Business 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.
When compared on other Business Loan charges such as processing fees, Dhan Laxmi Bank charges a processing fees of Upto 3% of the loan amount while Bank of Baroda charges a processing fees of Upto 1.00%.
Dhan Laxmi Bank offers Business Loan upto an amount of ₹ 5 Cr while Bank of Baroda offer Business Loan upto an amount of ₹ 2 Lakh. 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 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 part payment facility on Business Loan. 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.
Bank of Baroda can be a better option if you are looking for fund requirements after 0 months. Dhan Laxmi Bank offers a business loan once if business is 48 months old. Hence, Bank of Baroda should be a preferred choice for relatively new enterprises.
Bank of Baroda has an average customer ratings of 5, while has an average customer rating of , based on which it is clear that Bank of Baroda has a high customer service focus, an easy Business Loan process and a quick turnaround.

Which bank offers 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 Business Loan when compared to Bank of Baroda which offers a Business Loan at 14.10%.

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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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