Compare IDBI Bank vs Dhan Laxmi Bank Business Loan

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Bank	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Lendingkart Bajaj Finserv IDFC First Bank IIFL Bank of Maharashtra IndusInd Bank Kotak Bank Fullerton India Ftcash Indifi Neogrowth IDBI Bank Allahabad Bank Yes Bank PNB OBC Indian Overseas Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Lendingkart Bajaj Finserv IDFC First Bank IIFL Bank of Maharashtra IndusInd Bank Kotak Bank Fullerton India Ftcash Indifi Neogrowth Allahabad Bank Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda
Interest Rate	Interest Rate 12.25% - 13.50%	10.50% - 13.10%
Processing Fees	Processing Fees 1.00%	Upto 3% of the loan amount
Loan Amount	Loan Amount ₹ 50,000 to ₹ 5 Lakh	₹ 10 Lakh to ₹ 5 Cr
Loan Tenure	Loan Tenure 12 to 60 Months	12 to 60 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,237	₹ 2,149
Part Payment Charges	Part Payment Charges Not Allowed	Allowed after 6 months at 3%
Foreclosure Charges	Foreclosure Charges Allowed after 1 month at Before 6 months - 2%, After that Nil prepayment charges	Allowed after 0 months at 2 - 5%
Eligible Age	Eligible Age 22 to 58 Years	23 to 65 Years
Minimum Years in Business Required	Minimum Years in Business Required 36 Months	48 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 30 Lakh	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)

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Compare Business Loan EMI of IDBI Bank and Dhan Laxmi Bank

Loan Amount	IDBI Bank	Dhan Laxmi Bank
₹ 1 Lakh	₹ 2,237	₹ 2,149
₹ 5 Lakh	₹ 11,185	₹ 10,747
₹ 10 Lakh	₹ 22,371	₹ 21,494
₹ 15 Lakh	₹ 33,556	₹ 32,241

Which is a better bank for Business Loan – Dhan Laxmi Bank or IDBI Bank?

Dhan Laxmi Bank offers lower Business Loan EMI at Rs. 2149 for 60 Months compared to IDBI Bank with a minimum EMI of Rs. 2237 for 60 Months. In addition, average customer ratings for Dhan Laxmi Bank is currently at /5.0, making it a good choice for taking a Business Loan.

How does Dhan Laxmi Bank Business Loan compare with IDBI Bank Business Loan?

A detailed comparison of Dhan Laxmi Bank and IDBI 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 Dhan Laxmi Bank Loan is 10.50%, which is lower than the lowest interest rate of IDBI Bank at 12.25%. Hence, Dhan Laxmi Bank is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, IDBI Bank charges a processing fee of 1.00%, while Dhan Laxmi Bank charges a processing fee of Upto Upto 3% of the loan amount.
Dhan Laxmi Bank offers Business Loan upto an amount of ₹ 5 Cr, while IDBI Bank offers Loan upto an amount of ₹ 5 Lakh. Therefore, Dhan Laxmi 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. Dhan Laxmi Bank gives the option to close the loan after Zero months at 2 - 5% and IDBI Bank gives the option to close the loan after 1 months at Before 6 months - 2%, After that Nil prepayment charges. This makes Dhan Laxmi Bank a better option for Business Loan.
Dhan Laxmi Bank allows part payment on Business Loan after 6 months at 3%, while IDBI Bank does not offer a part payment facility. This makes Dhan Laxmi Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
Dhan Laxmi Bank gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from IDBI Bank is ₹ 30 Lakh. Hence, small businesses may find is easier to get a loan from Dhan Laxmi Bank.
IDBI Bank can be a better option if you are looking for fund requirements after 36 months. Dhan Laxmi Bank offers a business loan once if business is 48 months old. Hence, IDBI Bank should be a preferred choice for relatively new enterprises.
with an average customer rating of is equally comparable to with an average customer rating of . Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Business Loan – Dhan Laxmi Bank or IDBI Bank?

As per the current rates, Dhan Laxmi Bank offers a lower interest rate of 10.50% on loans compared to IDBI Bank, which offers a Business Loan at 12.25%.

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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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