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Compare Business Loan - HDFC Bank vs SBI

Bank
Parameters
Interest Rate
Interest Rate
15.65% - 21.35%
11.20% - 16.30%
Processing Fees
Processing Fees
Starting from 0.99%, Max 2.50%
From 2% to 3%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 50 Lakh
₹ 5 Lakh to ₹ 100 Cr
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,816
₹ 2,594
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 0 months at 3%
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at 2 - 4%
Allowed after 6 months at 3%
Borrower’s Age
Borrower’s Age
21 to 65 Years
21 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
₹ 20 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
3.3/5.0
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Compare EMI of HDFC Bank and SBI Business Loan

Loan Amount HDFC Bank SBI
₹ 1 Lakh ₹ 2,816 ₹ 2,594
₹ 5 Lakh ₹ 14,081 ₹ 12,971
₹ 10 Lakh ₹ 28,161 ₹ 25,943
₹ 15 Lakh ₹ 42,242 ₹ 38,914

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

SBI offers lower Business Loan EMI at 2594 on a Business Loan for 48 Months as compared to HDFC Bank with a minimum EMI of 2816 for 48 Months. Average customer ratings for SBI is currently at 3.3/5.0 which makes it a good choice for taking a Business Loan.

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

A detailed comparison of SBI and HDFC 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 SBI Business Loan is 11.20%, which is lower than the lowest interest rate of HDFC Bank at 15.65%. Hence, SBI is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, HDFC Bank charges a processing fees of Starting from 0.99%, Max 2.50% while SBI charges a processing fees of From 2% to 3%.
  • SBI offers Business Loan upto an amount of ₹ 100 Cr while HDFC Bank offer Business Loan upto an amount of ₹ 50 Lakh. SBI 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. SBI gives the option to close the loan after 6 months at 3% and HDFC Bank gives the option to close the loan after 12 months at 2 - 4%. This makes SBI a better option for Business Loan.
  • SBI allows part payment on Business Loan after Zero months at 3%, while HDFC Bank does not offer part payment facility on Business Loan. This makes SBI a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • SBI gives business loan at a minimum turnover of ₹ 20 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 SBI.
  • HDFC Bank and SBI offer a business loan if your business has completed 36 months. Hence, HDFC Bank and SBI both can be a preferred choice for relatively new enterprises.
  • HDFC Bank has an average customer ratings of 4.5, while SBI has an average customer rating of 3.3, based on which it is clear that HDFC Bank has a high customer service focus, an easy Business Loan process and a quick turnaround.

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

As per the current rates, SBI offers a lower interest rate of 11.20% on Business Loan when compared to HDFC Bank which offers a Business Loan at 15.65%.

Know all about Business Loan

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Compare HDFC Bank Business Loan With Other Banks

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Know About MSMEs and Mudra Loan

Business Loan News - Apr 2021
  • 2021-04-13 : Bandhan Bank’s collection efficiency ratio at 96% in Q4
    Bandhan Bank reported an overall collection efficiency of 96% for the quarter ending March 2021. Total advances which include retail loans like home, personal, business, car, two-wheeler education and doctor loan along with business and mudra loans grew by 21% at ₹87,054 crores. Deposits which includes fixed and recurring deposits grew by 37% at ₹77,972 crores. Further, CASA deposits increased by 61 per cent at ₹33,827 crores.
  • 2021-04-12 : Rs. 15 lakh crores sanctioned under the Mudra Yojna in last 6 years
    The finance ministry reported that banks and financial institutions have sanctioned Rs. 15 lakh crores to over 28.68 crores beneficiaries in the last 6 years. Prime Minister Mudra Yojna or PMMY was launched in April 2015 with an aim to promote entrepreneurship.
  • 2021-04-07 : IIFL Home Finance signs co-lending agreement with Standard Chartered Bank
    IIFL Home Finance and Standard Chartered Bank have entered into a co-lending arrangement for extending credit. Under this agreement, IIFL Home Finance and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.
  • 2021-04-05 : Yes Bank Jan-March deposits up 54% to 162, 947
    Yes Bank reported that the bank’s loan and advances which include home, personal, LAP, gold, two-wheeler, car and doctor loans along with business and mudra loans increased by 0.8% in year-on-year (YoY) terms to Rs. 172,850 crores. In addition to this, the bank deposit which includes fixed and recurring deposits grew 54.7% to Rs. 162,947 crores as compared to ₹105,364 crores on a yearly basis. The CASA(current and savings account) was up 51.8% to Rs. 42,587 crores against Rs. 28,063 crores YoY.
  • 2021-04-05 : Karnataka Bank targeting 1.42 lakh business turnover in FY 22
    Karnataka Bank is looking for 12% business growth in the current fiscal and targeting 1.42 lakh business turnover. The bank emphasised that it is planning to leverage digital banking to achieve its target.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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