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Compare Business Loan - HDFC Bank vs Bank of Baroda

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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
0 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 1 Cr
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of HDFC Bank and Bank of Baroda Business Loan

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 2628 on a Business Loan for 48 Months as compared to Bank of Baroda with a minimum EMI of 3423 for 36 Months. Average customer ratings for HDFC Bank is currently at 4.5/5.0 which makes 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 Business 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.
  • When compared on other Business Loan charges such as processing fees, HDFC Bank charges a processing fees of ₹ 499 while Bank of Baroda charges a processing fees of Upto 1.00%.
  • HDFC Bank offers Business Loan upto an amount of ₹ 50 Lakh while Bank of Baroda offer Business Loan upto an amount of ₹ 2 Lakh. 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 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.
  • Bank of Baroda can be a better option if you are looking for fund requirements after 0 months. HDFC Bank offers a business loan once if business is 36 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 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 Business Loan process and a quick turnaround.

Which bank offers 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 Business Loan when 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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Business Loan News - Jul 2021
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
    Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
*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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