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Compare HDFC Bank vs ICICI Bank Business Loan

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Bank
Interest Rate
Interest Rate
11.90% - 21.35%
16.50% - 20.00%
Processing Fees
Processing Fees
₹ 499
Starting from 0.99%, Up to 2%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 50 Lakh
₹ 1 Lakh to ₹ 40 Lakh
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,628
₹ 3,540
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at 2 - 4%
Allowed after 6 months at 5%
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
₹ 60 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
3.5/5.0
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Compare Business Loan EMI of HDFC Bank and ICICI Bank

Loan Amount HDFC Bank ICICI Bank
₹ 1 Lakh ₹ 2,628 ₹ 3,540
₹ 5 Lakh ₹ 13,142 ₹ 17,702
₹ 10 Lakh ₹ 26,285 ₹ 35,404
₹ 15 Lakh ₹ 39,427 ₹ 53,107

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

HDFC Bank offers lower Business Loan EMI at Rs. 2628 for 48 Months compared to ICICI Bank with a minimum EMI of Rs. 3540 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 ICICI Bank Business Loan?

A detailed comparison of HDFC Bank and ICICI 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 ICICI Bank at 16.50%. 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 ICICI Bank charges a processing fee of Upto Starting from 0.99%, Up to 2%.
  • HDFC Bank offers Business Loan upto an amount of ₹ 50 Lakh, while ICICI Bank offers Loan upto an amount of ₹ 40 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. ICICI Bank gives the option to close the loan after 6 months at 5% and HDFC Bank gives the option to close the loan after 12 months at 2 - 4%. This makes ICICI Bank a better option for Business Loan.
  • ICICI Bank gives business loan at a minimum turnover of ₹ 60 Lakh. 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 ICICI Bank.
  • HDFC Bank and ICICI Bank offer a business loan if your business has completed 36 months. Hence, HDFC Bank and ICICI Bank both can be a preferred choice for relatively new enterprises.
  • HDFC Bank has an average customer rating of 4.5. In contrast, ICICI Bank has an average customer rating of 3.5, based on which it is clear that HDFC Bank 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 ICICI Bank?

As per the current rates, HDFC Bank offers a lower interest rate of 11.90% on loans compared to ICICI Bank, which offers a Business Loan at 16.50%.

Know all about Business Loan

Know more about HDFC Bank Business Loan

Know more about ICICI Bank Business Loan

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Business Loan News - Oct 2021
  • 2021-10-22 : South Indian Bank Ltd Posts Loss in Q2 FY2021-22
    For the quarter ended September 30, 2021, the total income of the bank was ₹ 1746.03 crores as against ₹2115.71 crores in the corresponding quarter of the previous year and ₹2081.73 crores in the previous quarter. As a result, the bank has reported a loss of Rs. 187.06 crore for Q2 of FY 2021-22.
  • 2021-10-18 : HDFC Bank Posts 17.2 Percent Profits In Q2
    Private sector bank, HDFC Bank has posted a 17.6 percent rise in net profit at Rs 8,834.3 crore in the second quarter ended September 30, 2021. The lender had posted a net profit of Rs 7,513.1 crore in Q2 of 2020.
  • 2021-10-11 : IIFL Finance Launches Instant Business Loan
    IIFL Finance has launched instant business loans on WhatsApp to avail of loan amount upto Rs. 10 Lakhs with benefits such as minimum documentation and quick approval.
  • 2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
    IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
  • 2021-10-05 : HDFC Bank Reports Growth in Advances in Q2
    HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
*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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