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Compare IDFC First Bank vs IDBI Bank Business Loan

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Interest Rate
Interest Rate
19.00% - 0.00%
12.25% - 13.50%
Processing Fees
Processing Fees
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 9 Lakh
₹ 50,000 to ₹ 5 Lakh
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,990
₹ 2,237
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 6 months at 4 - 5%
Allowed after 1 month at Before 6 months - 2%, After that Nil prepayment charges
Eligible Age
Eligible Age
25 to 65 Years
22 to 58 Years
Minimum Years in Business Required
Minimum Years in Business Required
36 Months
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 12 Lakh
₹ 30 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Business Loan EMI of IDFC First Bank and IDBI Bank

Loan Amount IDFC First Bank IDBI Bank
₹ 1 Lakh ₹ 2,990 ₹ 2,237
₹ 5 Lakh ₹ 14,950 ₹ 11,185
₹ 10 Lakh ₹ 29,900 ₹ 22,371
₹ 15 Lakh ₹ 44,850 ₹ 33,556

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

IDBI Bank offers lower Business Loan EMI at Rs. 2237 for 60 Months compared to IDFC First Bank with a minimum EMI of Rs. 2990 for 48 Months. In addition, average customer ratings for IDBI Bank is currently at /5.0, making it a good choice for taking a Business Loan.

How does IDBI Bank Business Loan compare with IDFC First Bank Business Loan?

A detailed comparison of IDBI Bank and IDFC First 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 IDBI Bank Loan is 12.25%, which is lower than the lowest interest rate of IDFC First Bank at 19.00%. Hence, IDBI Bank is offering a cheaper loan option.
  • Compared to other Business Loan charges such as processing fees, IDFC First Bank charges a processing fee of 2.00%, while IDBI Bank charges a processing fee of Upto 1.00%.
  • IDFC First Bank offers Business Loan upto an amount of ₹ 9 Lakh, while IDBI Bank offers Loan upto an amount of ₹ 5 Lakh. Therefore, IDFC First 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. IDBI Bank gives the option to close the loan after 1 months at Before 6 months - 2%, After that Nil prepayment charges and IDFC First Bank gives the option to close the loan after 6 months at 4 - 5%. This makes IDBI Bank a better option for Business Loan.
  • IDFC First Bank gives business loan at a minimum turnover of ₹ 12 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 IDFC First Bank.
  • IDBI Bank and IDFC First Bank offer a business loan if your business has completed 36 months. Hence, IDBI Bank and IDFC First Bank both can 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 – IDBI Bank or IDFC First Bank?

As per the current rates, IDBI Bank offers a lower interest rate of 12.25% on loans compared to IDFC First Bank, which offers a Business Loan at 19.00%.

Know all about Business Loan

Know more about IDFC First Bank Business Loan

Know more about IDBI Bank Business Loan

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Business Loan News - Dec 2022
  • 2022-11-02 : Karnataka Bank Registers Net Profit in the Q2 of 2022-23
    The bank has registered a net profit of ₹411.63 crores in the Q2 of 2022-23. In the corresponding quarter, it saw ₹125.61 crores, thus registering a growth of 227.70 percent.
  • 2022-10-18 : SBI Credit Card Holders ALERT! State Bank hikes charges on EMI transactions, Rent Payments
    In a move that may further make credit card usage costlier, the State Bank of India has revised certain charges for its credit card users. The new charges will come into effect from November 15. The processing fee on merchant EMI transactions has been revised to Rs 199 + applicable taxes from earlier Rs 99 + applicable taxes. Processing fee on rent payment transactions will be Rs 99 + applicable taxes," said the bank.
  • 2022-10-18 : SBI launches its digital banking unit in Goa
    As part of the Union government’s initiative, a digital banking unit (DBU) of the State Bank of India (SBI) was inaugurated in Goa. The initiative aims to ensure that the benefits of digital banking reach every nook and corner of the country. The DBUs will offer banking products and services to the customers 24x7.
  • 2022-09-09 : HDFC Bank to introduce 10-second personal loan service
    India’s largest private sector lender HDFC Bank is aiming at introducing the 10-seconds loan service for everyone including those who do not have an account with the bank. The bank has been a paradigm pioneer in 10-second loans for existing customers and has been able to deliver this over the past six years.
  • 2022-08-18 : HDFC bank opens its first all women branch in Kerela`s kozhikode.
    HDFC has opened its first all-women branch in Kozhikode. The branch, located in Cherootty Road, the hub of traders in the district, will have 4 women bankers. HDFC Bank is driving diversity and inclusion within the organization with a special focus on enhancing gender diversity.
*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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