Compare HDFC Bank vs Allahabad Bank Business Loan

Download Comparison

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 Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda	SBI 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 Bank of Baroda
Interest Rate	Interest Rate 11.90% - 21.35%	14.50% - 18.60%
Processing Fees	Processing Fees ₹ 499	Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928
Loan Amount	Loan Amount ₹ 50,000 to ₹ 50 Lakh	₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure	Loan Tenure 12 to 48 Months	12 to 84 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,628	₹ 1,902
Part Payment Charges	Part Payment Charges Not Allowed	Allowed after 0 months at 2.25%
Foreclosure Charges	Foreclosure Charges Allowed after 12 months at 2 - 4%	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 36 Months	36 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 1 Cr	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.5/5.0	4.5/5.0

Add Bank

Compare Business Loan EMI of HDFC Bank and Allahabad Bank

Loan Amount	HDFC Bank	Allahabad Bank
₹ 1 Lakh	₹ 2,628	₹ 1,902
₹ 5 Lakh	₹ 13,142	₹ 9,509
₹ 10 Lakh	₹ 26,285	₹ 19,017
₹ 15 Lakh	₹ 39,427	₹ 28,526

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

Allahabad Bank offers lower Business Loan EMI at Rs. 1902 for 84 Months compared to HDFC Bank with a minimum EMI of Rs. 2628 for 48 Months. In addition, average customer ratings for Allahabad Bank is currently at 4.5/5.0, making it a good choice for taking a Business Loan.

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

A detailed comparison of HDFC Bank and Allahabad 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 HDFC Bank Loan is 11.90%, which is lower than the lowest interest rate of Allahabad Bank at 14.50%. Hence, HDFC Bank is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, HDFC Bank charges a processing fee of ₹ 499, while Allahabad Bank charges a processing fee of Upto Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928.
HDFC Bank offers Business Loan upto an amount of ₹ 50 Lakh, while Allahabad Bank offers Loan upto an amount of ₹ 20 Lakh. Therefore, HDFC 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. Allahabad Bank gives the option to close the loan after Zero months at 2.25% and HDFC Bank gives the option to close the loan after 12 months at 2 - 4%. 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 HDFC Bank does not offer a part payment facility. 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 HDFC Bank is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from Allahabad Bank.
Allahabad Bank and HDFC Bank offer a business loan if your business has completed 36 months. Hence, Allahabad Bank and HDFC Bank both can be a preferred choice for relatively new enterprises.
Allahabad Bank with an average customer rating of 4.5 is equally comparable to HDFC Bank with an average customer rating of 4.5. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Business Loan – HDFC Bank or Allahabad Bank?

As per the current rates, HDFC Bank offers a lower interest rate of 11.90% on loans compared to Allahabad Bank, which offers a Business Loan at 14.50%.

Know all about Business Loan

Know more about HDFC Bank Business Loan

Know more about Allahabad Bank Business Loan

Compare HDFC Bank Business Loan With Other Banks

Compare Allahabad Bank Business Loan With Other Banks

Know About MSMEs and Mudra Loan

Notification ×

Home Loan
Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000
Apply Now
Personal Loan
Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.
Check Offers
Gold Loan
Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500
Apply Now
Loan Against Property
Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.
Apply Now
Business Loan
Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.
Apply Now
Fixed Deposit
AAA rated FDs with returns as high as 7.05%.
Invest Now

Business Loan News - May 2022

2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
2022-05-03 : HDFC Profit Rises by 16% for Q4 of FY 2022
Housing Development Finance Corporation has reported a 16% year-on-year rise in its standalone net profit for the March quarter to Rs 3,700 crore on the back of strong growth in loans and net interest income (NII).
2022-04-29 : Axis Bank Net Profit Jumps to Rs 4,118 crore in March Quarter
The bank has reported a 54 percent jump in its standalone net profit to Rs 4,117.77 crore from a net profit of Rs 2,677.06 crore in the year-ago period for the quarter ended March 2022.
2022-04-29 : ICICI Bank Launches Digital Ecosystem for MSMEs
The new digital ecosystem comprises three pillars, including enhanced banking services for existing customers, MSMEs who are customers of other banks, and other value-added services for all.
2022-04-28 : Union Bank Rolls out Automated Solution for Recovery of Bad Loans
Union Bank of India will be using a first-of-its-kind stressed asset recovery automated solution (SARAS) to help the bank enforce securities, track recoveries, and enhance monitoring of stressed assets.

*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

Calculate Your Income Tax ☺

Please wait while your information is being processed...