Compare Indifi vs Andhra 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 Dhan Laxmi Bank DCB 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 IDBI Bank Ftcash 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 15.00% - 24.00%	15.75% - 16.00%
Processing Fees	Processing Fees 2% of the loan amount	Case to Case
Loan Amount	Loan Amount ₹ 0 to ₹ 5 Lakh	₹ 50,000 to ₹ 5 Lakh
Loan Tenure	Loan Tenure 36 Months	12 to 60 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,467	₹ 2,419
Part Payment Charges	Part Payment Charges Allowed after 0 months at Nil charges	Allowed after 0 months at Nil prepayment charges
Foreclosure Charges	Foreclosure Charges Allowed after 0 months at 4% charges	Allowed after 0 months at Nil prepayment charges
Eligible Age	Eligible Age 23 to 65 Years	21 to 55 Years
Minimum Years in Business Required	Minimum Years in Business Required NA	12 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 0	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 5/5.0	5/5.0

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Compare Business Loan EMI of Indifi and Andhra Bank

Loan Amount	Indifi	Andhra Bank
₹ 1 Lakh	₹ 3,467	₹ 2,419
₹ 5 Lakh	₹ 17,333	₹ 12,093
₹ 10 Lakh	₹ 34,665	₹ 24,185
₹ 15 Lakh	₹ 51,998	₹ 36,278

Which is a better bank for Business Loan – Indifi or Andhra Bank?

Andhra Bank offers lower Business Loan EMI at Rs. 2419 for 60 Months compared to Indifi with a minimum EMI of Rs. 3467 for 36 Months. In addition, average customer ratings for Andhra Bank is currently at 5/5.0, making it a good choice for taking a Business Loan.

How does Indifi Business Loan compare with Andhra Bank Business Loan?

A detailed comparison of Indifi and Andhra 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 Indifi Loan is 15.00%, which is lower than the lowest interest rate of Andhra Bank at 15.75%. Hence, Indifi is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, Indifi charges a processing fee of 2% of the loan amount, while Andhra Bank charges a processing fee of Upto Case to Case.
One feature that makes Business Loan a better option is the foreclosure facility. Andhra Bank and Indifi gives the option to close the loan after Zero months at Nil prepayment charges and 4% charges. This makes Andhra Bank a better option for Business Loan.
Andhra Bank and Indifi allow part payment on Business Loan after Zero months at Nil charges. Andhra Bank applies a charge of Nil charges and Indifi charges Nil charges on Business Loan.
Andhra Bank can be a better option if you are looking for fund requirements after 12 months. Indifi offers a business loan once if business is NA months old. Hence, Andhra Bank should be a preferred choice for relatively new enterprises.
Andhra Bank with an average customer rating of 5 is equally comparable to Indifi with an average customer rating of 5. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Business Loan – Indifi or Andhra Bank?

As per the current rates, Indifi offers a lower interest rate of 15.00% on loans compared to Andhra Bank, which offers a Business Loan at 15.75%.

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Business Loan News - Aug 2022

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The bank has reported a 54 percent jump in its standalone net profit to Rs 4,117.77 crore from a net profit of Rs 2,677.06 crore in the year-ago period for the quarter ended March 2022.
2022-04-29 : ICICI Bank Launches Digital Ecosystem for MSMEs
The new digital ecosystem comprises three pillars, including enhanced banking services for existing customers, MSMEs who are customers of other banks, and other value-added services for all.
2022-04-28 : Union Bank Rolls out Automated Solution for Recovery of Bad Loans
Union Bank of India will be using a first-of-its-kind stressed asset recovery automated solution (SARAS) to help the bank enforce securities, track recoveries, and enhance monitoring of stressed assets.

*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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