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Compare Business Loan - IDBI Bank vs Ftcash

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Bank
Parameters
Interest Rate
Interest Rate
12.25% - 13.50%
18.00% - 24.00%
Processing Fees
Processing Fees
1.00%
2% of loan amount
Loan Amount
Loan Amount
₹ 50,000 to ₹ 5 Lakh
₹ 50,000 to ₹ 1 Cr
Loan Tenure
Loan Tenure
12 to 60 Months
1 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,237
₹ 3,615
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Before 6 months - 2%, After that Nil prepayment charges
Allowed after 1 month at Nil foreclosure charges
Eligible Age
Eligible Age
22 to 58 Years
21 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
36 Months
12 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 30 Lakh
₹ 6 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of IDBI Bank and Ftcash Business Loan

Loan Amount IDBI Bank Ftcash
₹ 1 Lakh ₹ 2,237 ₹ 3,615
₹ 5 Lakh ₹ 11,185 ₹ 18,076
₹ 10 Lakh ₹ 22,371 ₹ 36,152
₹ 15 Lakh ₹ 33,556 ₹ 54,229

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

IDBI Bank offers lower Business Loan EMI at 2237 on a Business Loan for 60 Months as compared to Ftcash with a minimum EMI of 3615 for 36 Months. Average customer ratings for IDBI Bank is currently at /5.0 which makes it a good choice for taking a Business Loan.

How does IDBI Bank Business Loan compare with Ftcash Business Loan?

A detailed comparison of IDBI Bank and Ftcash 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 IDBI Bank Business Loan is 12.25%, which is lower than the lowest interest rate of Ftcash at 18.00%. Hence, IDBI Bank is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, IDBI Bank charges a processing fees of 1.00% while Ftcash charges a processing fees of 2% of loan amount.
  • Ftcash offers Business Loan upto an amount of ₹ 1 Cr while IDBI Bank offer Business Loan upto an amount of ₹ 5 Lakh. Ftcash 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. Ftcash and IDBI Bank gives the option to close the loan after 1 months at Nil foreclosure charges and Before 6 months - 2%, After that Nil prepayment charges. This makes Ftcash a better option for Business Loan.
  • Ftcash gives business loan at a minimum turnover of ₹ 6 Lakh. 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 Ftcash.
  • Ftcash can be a better option if you are looking for fund requirements after 12 months. IDBI Bank offers a business loan once if business is 36 months old. Hence, Ftcash should be a preferred choice for relatively new enterprises.
  • with an average customer ratings 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 lower interest rate on Business Loan – IDBI Bank or Ftcash?

As per the current rates, IDBI Bank offers a lower interest rate of 12.25% on Business Loan when compared to Ftcash which offers a Business Loan at 18.00%.

Know all about Business Loan

Know more about IDBI Bank Business Loan

Know more about Ftcash Business Loan

Compare IDBI Bank Business Loan With Other Banks

Compare Ftcash Business Loan With Other Banks

Know About MSMEs and Mudra Loan

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Business Loan News - Jun 2021
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 2021-06-10 : Rural Loan Collections to be affected by the Second wave
    As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
  • 2021-06-10 : Edelweiss to become co-lending partners with Central Bank of India
    Edelweiss Retail Finance Ltd. (ERFL) strengthened its co-lending partnership with the Central Bank of India in order to ensure priority sector lending to the MSMEs. MSMEs can now avail collateral free loans of upto 50 lakhs and Loan against property of upto Rs 10 crores.
  • 2021-06-10 : Central Bank of India to become co-lending partners with Edelweiss
    Edelweiss Retail Finance Ltd. (ERFL) strengthened its co-lending partnership with the Central Bank of India in order to ensure priority sector lending to the MSMEs. MSMEs can now avail collateral free loans of upto 50 lakhs and Loan against property of upto Rs 10 crores.
  • 2021-06-09 : Healthcare business loan to be provided by Canara Bank
    Under the recently announced ‘Canara Jeevanrekha healthcare business loan’, loans of upto Rs 2 crores will be offered by Canara Bank at concessional interest rates. The loan is offered to the manufacturers and suppliers, especially of healthcare products.
*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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