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Compare Business Loan - Ftcash vs Allahabad Bank

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Bank
Parameters
Interest Rate
Interest Rate
18.00% - 24.00%
14.50% - 18.60%
Processing Fees
Processing Fees
2% of loan amount
Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928
Loan Amount
Loan Amount
₹ 50,000 to ₹ 1 Cr
₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure
Loan Tenure
1 to 36 Months
12 to 84 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,615
₹ 1,902
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 0 months at 2.25%
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil foreclosure charges
Allowed after 0 months at 2.25%
Eligible Age
Eligible Age
21 to 65 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
12 Months
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 6 Lakh
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Ftcash and Allahabad Bank Business Loan

Loan Amount Ftcash Allahabad Bank
₹ 1 Lakh ₹ 3,615 ₹ 1,902
₹ 5 Lakh ₹ 18,076 ₹ 9,509
₹ 10 Lakh ₹ 36,152 ₹ 19,017
₹ 15 Lakh ₹ 54,229 ₹ 28,526

Which is a better bank for Business Loan – Allahabad Bank or Ftcash?

Allahabad Bank offers lower Business Loan EMI at 1902 on a Business Loan for 84 Months as compared to Ftcash with a minimum EMI of 3615 for 36 Months. Average customer ratings for Allahabad Bank is currently at /5.0 which makes it a good choice for taking a Business Loan.

How does Allahabad Bank Business Loan compare with Ftcash Business Loan?

A detailed comparison of Allahabad Bank and Ftcash 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 Allahabad Bank Business Loan is 14.50%, which is lower than the lowest interest rate of Ftcash at 18.00%. Hence, Allahabad Bank is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, Ftcash charges a processing fees of 2% of loan amount while Allahabad Bank charges a processing fees of Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928.
  • Ftcash offers Business Loan upto an amount of ₹ 1 Cr while Allahabad Bank offer Business Loan upto an amount of ₹ 20 Lakh. Ftcash 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. Allahabad Bank gives the option to close the loan after Zero months at 2.25% and Ftcash gives the option to close the loan after 1 months at Nil foreclosure charges. This makes Allahabad Bank a better option for Business Loan.
  • Allahabad Bank allows part payment on Business Loan after Zero months at 2.25%, while Ftcash does not offer part payment facility on Business Loan. This makes Allahabad Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • Allahabad Bank gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from Ftcash is ₹ 6 Lakh. Hence, small businesses may find is easier to get a loan from Allahabad Bank.
  • Ftcash can be a better option if you are looking for fund requirements after 12 months. Allahabad Bank offers a business loan once if business is 36 months old. Hence, Ftcash should 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 – Allahabad Bank or Ftcash?

As per the current rates, Allahabad Bank offers a lower interest rate of 14.50% on Business Loan when compared to Ftcash which offers a Business Loan at 18.00%.

Know all about Business Loan

Know more about Ftcash Business Loan

Know more about Allahabad Bank Business Loan

Compare Ftcash Business Loan With Other Banks

Compare Allahabad Bank Business Loan With Other Banks

Know About MSMEs and Mudra Loan

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Business Loan News - Jun 2021
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 2021-06-10 : Rural Loan Collections to be affected by the Second wave
    As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
  • 2021-06-10 : Edelweiss to become co-lending partners with Central Bank of India
    Edelweiss Retail Finance Ltd. (ERFL) strengthened its co-lending partnership with the Central Bank of India in order to ensure priority sector lending to the MSMEs. MSMEs can now avail collateral free loans of upto 50 lakhs and Loan against property of upto Rs 10 crores.
  • 2021-06-10 : Central Bank of India to become co-lending partners with Edelweiss
    Edelweiss Retail Finance Ltd. (ERFL) strengthened its co-lending partnership with the Central Bank of India in order to ensure priority sector lending to the MSMEs. MSMEs can now avail collateral free loans of upto 50 lakhs and Loan against property of upto Rs 10 crores.
  • 2021-06-09 : Healthcare business loan to be provided by Canara Bank
    Under the recently announced ‘Canara Jeevanrekha healthcare business loan’, loans of upto Rs 2 crores will be offered by Canara Bank at concessional interest rates. The loan is offered to the manufacturers and suppliers, especially of healthcare products.
*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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