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Compare HDFC Bank vs Andhra Bank Business Loan

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Bank
Interest Rate
Interest Rate
11.90% - 21.35%
15.75% - 16.00%
Processing Fees
Processing Fees
₹ 499
Case to Case
Loan Amount
Loan Amount
₹ 50,000 to ₹ 50 Lakh
₹ 50,000 to ₹ 5 Lakh
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,628
₹ 2,419
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 0 months at Nil prepayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at 2 - 4%
Allowed after 0 months at Nil prepayment charges
Eligible Age
Eligible Age
21 to 65 Years
21 to 55 Years
Minimum Years in Business Required
Minimum Years in Business Required
36 Months
12 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
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Compare Business Loan EMI of HDFC Bank and Andhra Bank

Loan Amount HDFC Bank Andhra Bank
₹ 1 Lakh ₹ 2,628 ₹ 2,419
₹ 5 Lakh ₹ 13,142 ₹ 12,093
₹ 10 Lakh ₹ 26,285 ₹ 24,185
₹ 15 Lakh ₹ 39,427 ₹ 36,278

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

Andhra Bank offers lower Business Loan EMI at Rs. 2419 for 60 Months compared to HDFC Bank with a minimum EMI of Rs. 2628 for 48 Months. In addition, average customer ratings for Andhra 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 Andhra Bank Business Loan?

A detailed comparison of HDFC Bank and Andhra 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 Andhra Bank at 15.75%. 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 Andhra Bank charges a processing fee of Upto Case to Case.
  • HDFC Bank offers Business Loan upto an amount of ₹ 50 Lakh, while Andhra Bank offers Loan upto an amount of ₹ 5 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. Andhra Bank gives the option to close the loan after Zero months at Nil prepayment charges and HDFC Bank gives the option to close the loan after 12 months at 2 - 4%. This makes Andhra Bank a better option for Business Loan.
  • Andhra Bank allows part payment on Business Loan after Zero months at Nil charges, while HDFC Bank does not offer a part payment facility. This makes Andhra Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • Andhra 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 Andhra Bank.
  • Andhra Bank can be a better option if you are looking for fund requirements after 12 months. HDFC Bank offers a business loan once if business is 36 months old. Hence, Andhra Bank should be a preferred choice for relatively new enterprises.
  • Andhra 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 Andhra Bank?

As per the current rates, HDFC Bank offers a lower interest rate of 11.90% on loans compared to Andhra Bank, which offers a Business Loan at 15.75%.

Know all about Business Loan

Know more about HDFC Bank Business Loan

Know more about Andhra Bank Business Loan

Compare HDFC Bank Business Loan With Other Banks

Compare Andhra Bank Business Loan With Other Banks

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*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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