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Compare Business Loan - Ftcash vs Bank of Baroda

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Bank
Parameters
Interest Rate
Interest Rate
18.00% - 24.00%
14.10% - 14.10%
Processing Fees
Processing Fees
2% of loan amount
Upto 1.00%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 1 Cr
₹ 1 Lakh to ₹ 2 Lakh
Loan Tenure
Loan Tenure
1 to 36 Months
12 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,615
₹ 3,423
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil foreclosure charges
Allowed after 1 month at Nil prepayment charges
Eligible Age
Eligible Age
21 to 65 Years
21 to 60 Years
Minimum Years in Business Required
Minimum Years in Business Required
12 Months
0 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 6 Lakh
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
5/5.0
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Compare EMI of Ftcash and Bank of Baroda Business Loan

Loan Amount Ftcash Bank of Baroda
₹ 1 Lakh ₹ 3,615 ₹ 3,423
₹ 5 Lakh ₹ 18,076 ₹ 17,113
₹ 10 Lakh ₹ 36,152 ₹ 34,226
₹ 15 Lakh ₹ 54,229 ₹ 51,339

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

Bank of Baroda offers lower Business Loan EMI at 3423 on a Business Loan for 36 Months as compared to Ftcash with a minimum EMI of 3615 for 36 Months. Average customer ratings for Bank of Baroda is currently at 5/5.0 which makes it a good choice for taking a Business Loan.

How does Bank of Baroda Business Loan compare with Ftcash Business Loan?

A detailed comparison of Bank of Baroda 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 Bank of Baroda Business Loan is 14.10%, which is lower than the lowest interest rate of Ftcash at 18.00%. Hence, Bank of Baroda 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 Bank of Baroda charges a processing fees of Upto 1.00%.
  • Ftcash offers Business Loan upto an amount of ₹ 1 Cr while Bank of Baroda offer Business Loan upto an amount of ₹ 2 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. Bank of Baroda and Ftcash gives the option to close the loan after 1 months at Nil prepayment charges and Nil foreclosure charges. This makes Bank of Baroda a better option for Business Loan.
  • Bank of Baroda 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 Bank of Baroda.
  • Bank of Baroda can be a better option if you are looking for fund requirements after 0 months. Ftcash offers a business loan once if business is 12 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 – Bank of Baroda or Ftcash?

As per the current rates, Bank of Baroda offers a lower interest rate of 14.10% 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 Bank of Baroda Business Loan

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Business Loan News - Jun 2021
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    Capital India Home Loan aims to double its asset book to over Rs 250 crore by the end of the current fiscal year. The housing finance company that deals in Home Loan, Commercial Property Loan, Loan Against Property, Business Loan, Top-up Loan, Personal Loan, and Consumer Loan had a loan book of about Rs 135 crore in the financial year ended March 31, 2021. The loan book is expected to touch Rs 250 crore by March 2022.
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    Gold loan company Muthoot Fincorp has acquired a 54% stake in Hyderabad-based fintech startup Paymatrix by buying out existing investors as part of its added focus on the digital payments segment. Muthoot Fincorp has around 2 million customers in gold loans, retail loans, small business loans, affordable housing, two-wheeler and used-car loans, money transfer, foreign exchange, insurance sales, and wealth management, through its 3,600 branches.
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    ICICI Bank announced the launch of ICICI STACK for Corporates. This will provide customised digital banking services to companies in over 15 leading industries. ICICI STACK is going to offer digital banking solution banking solutions to corporates to seamlessly meet their banking requirements.
  • 2021-06-16 : Ujjivan Small Finance Bank collaborates with MoEngage
    Ujjivan Small Finance Bank has collaborated with customer engagement platform MoEngage to provide digital banking services in remote areas of the country. The aim is to build a wide presence of the bank with customers in the unserved regions through digital services.
  • 2021-06-15 : Indian Overseas Bank declared a profit of Rs 831 crore
    IOB closed the last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. IOB plans to come up with Prompt Corrective Action to focus on loan recovery, low-cost deposits and less capital consuming advances.
*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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