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Compare HDFC Bank vs Bank of Baroda Business Loan

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Bank
Interest Rate
Interest Rate
11.90% - 21.35%
14.10% - 14.10%
Processing Fees
Processing Fees
₹ 499
Upto 1.00%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 50 Lakh
₹ 1 Lakh to ₹ 2 Lakh
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,628
₹ 3,423
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at 2 - 4%
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
36 Months
NA
Minimum Turnover Required
Minimum Turnover Required
₹ 1 Cr
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
5/5.0
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Compare Business Loan EMI of HDFC Bank and Bank of Baroda

Loan Amount HDFC Bank Bank of Baroda
₹ 1 Lakh ₹ 2,628 ₹ 3,423
₹ 5 Lakh ₹ 13,142 ₹ 17,113
₹ 10 Lakh ₹ 26,285 ₹ 34,226
₹ 15 Lakh ₹ 39,427 ₹ 51,339

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

HDFC Bank offers lower Business Loan EMI at Rs. 2628 for 48 Months compared to Bank of Baroda with a minimum EMI of Rs. 3423 for 36 Months. In addition, average customer ratings for HDFC 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 Bank of Baroda Business Loan?

A detailed comparison of HDFC 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 HDFC Bank Loan is 11.90%, which is lower than the lowest interest rate of Bank of Baroda at 14.10%. 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 Bank of Baroda charges a processing fee of Upto Upto 1.00%.
  • HDFC Bank offers Business Loan upto an amount of ₹ 50 Lakh, while Bank of Baroda offers Loan upto an amount of ₹ 2 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. Bank of Baroda gives the option to close the loan after 1 months at Nil prepayment charges and HDFC Bank gives the option to close the loan after 12 months at 2 - 4%. 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 HDFC Bank is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from Bank of Baroda.
  • HDFC Bank can be a better option if you are looking for fund requirements after 36 months. Bank of Baroda offers a business loan once if business is NA months old. Hence, HDFC Bank should be a preferred choice for relatively new enterprises.
  • Bank of Baroda has an average customer rating of 5. In contrast, HDFC Bank has an average customer rating of 4.5, based on which it is clear that Bank of Baroda has a high customer service focus, an easy process and a quick turnaround.

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

As per the current rates, HDFC Bank offers a lower interest rate of 11.90% on loans compared to Bank of Baroda, which offers a Business Loan at 14.10%.

Know all about Business Loan

Know more about HDFC Bank Business Loan

Know more about Bank of Baroda Business Loan

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  • 2022-04-29 : ICICI Bank Launches Digital Ecosystem for MSMEs
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    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
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