Compare Business Loan - IDFC First Bank vs Yes Bank

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 PNB OBC Indian Overseas Bank Dhan Laxmi 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 IIFL Bank of Maharashtra IndusInd Bank Kotak Bank Fullerton India Ftcash Indifi Neogrowth IDBI Bank Yes Bank Allahabad Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda
Parameters
Interest Rate	Interest Rate 22.00% - 24.00%	16.25% - 19.99%
Processing Fees	Processing Fees 2.00%	Up to 2%
Loan Amount	Loan Amount ₹ 1 Lakh to ₹ 9 Lakh	₹ 5 Lakh to ₹ 50 Lakh
Loan Tenure	Loan Tenure 12 to 48 Months	12 to 36 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,151	₹ 3,528
Part Payment Charges	Part Payment Charges Not Allowed	Allowed after 12 months at 2% charges
Foreclosure Charges	Foreclosure Charges Allowed after 6 months at 4 - 5%	Allowed after 12 months at Up to 4%
Borrower’s Age	Borrower’s Age 25 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 ₹ 12 Lakh	₹ 1 Cr
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	5/5.0

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Compare EMI of IDFC First Bank and Yes Bank Business Loan

Loan Amount	IDFC First Bank	Yes Bank
₹ 1 Lakh	₹ 3,151	₹ 3,528
₹ 5 Lakh	₹ 15,753	₹ 17,640
₹ 10 Lakh	₹ 31,506	₹ 35,281
₹ 15 Lakh	₹ 47,259	₹ 52,921

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

IDFC First Bank offers lower Business Loan EMI at 3151 on a Business Loan for 48 Months as compared to Yes Bank with a minimum EMI of 3528 for 36 Months. Average customer ratings for IDFC First Bank is currently at /5.0 which makes it a good choice for taking a Business Loan.

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

A detailed comparison of Yes 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 Yes Bank Business Loan is 16.25%, which is lower than the lowest interest rate of IDFC First Bank at 22.00%. Hence, Yes Bank is offering a cheaper loan option.
When compared on other Business Loan charges such as processing fees, IDFC First Bank charges a processing fees of 2.00% while Yes Bank charges a processing fees of Up to 2%.
Yes Bank offers Business Loan upto an amount of ₹ 50 Lakh while IDFC First Bank offer Business Loan upto an amount of ₹ 9 Lakh. Yes 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 foreclosure facility. IDFC First Bank gives the option to close the loan after 6 months at 4 - 5% and Yes Bank gives the option to close the loan after 12 months at Up to 4%. This makes IDFC First Bank a better option for Business Loan.
Yes Bank allows part payment on Business Loan after 12 months at 2% charges, while IDFC First Bank does not offer part payment facility on Business Loan. This makes Yes Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
IDFC First Bank gives business loan at a minimum turnover of ₹ 12 Lakh. However, the turnover requirement for a business loan from Yes Bank is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from IDFC First Bank.
IDFC First Bank and Yes Bank offer a business loan if your business has completed 36 months. Hence, IDFC First Bank and Yes Bank both can be a preferred choice for relatively new enterprises.
Yes Bank has an average customer ratings of 5, while has an average customer rating of , based on which it is clear that Yes 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 – Yes Bank or IDFC First Bank?

As per the current rates, Yes Bank offers a lower interest rate of 16.25% on Business Loan when compared to IDFC First Bank which offers a Business Loan at 22.00%.

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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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