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Compare Indifi vs Corporation Bank Business Loan

Download Comparison
Bank
Interest Rate
Interest Rate
15.00% - 24.00%
13.55% - 14.55%
Processing Fees
Processing Fees
2% of the loan amount
1.5%, Min Rs. 500
Loan Amount
Loan Amount
₹ 0 to ₹ 5 Lakh
₹ 2 Lakh to ₹ 5 Cr
Loan Tenure
Loan Tenure
36 Months
12 to 84 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,467
₹ 1,849
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 58 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 Corporation Bank

Loan Amount Indifi Corporation Bank
₹ 1 Lakh ₹ 3,467 ₹ 1,849
₹ 5 Lakh ₹ 17,333 ₹ 9,246
₹ 10 Lakh ₹ 34,665 ₹ 18,492
₹ 15 Lakh ₹ 51,998 ₹ 27,738

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

Corporation Bank offers lower Business Loan EMI at Rs. 1849 for 84 Months compared to Indifi with a minimum EMI of Rs. 3467 for 36 Months. In addition, average customer ratings for Corporation Bank is currently at 5/5.0, making it a good choice for taking a Business Loan.

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

A detailed comparison of Corporation Bank and Indifi 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 Corporation Bank Loan is 13.55%, which is lower than the lowest interest rate of Indifi at 15.00%. Hence, Corporation Bank 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 Corporation Bank charges a processing fee of Upto 1.5%, Min Rs. 500.
  • Corporation Bank offers Business Loan upto an amount of ₹ 5 Cr, while Indifi offers Loan upto an amount of ₹ 5 Lakh. Therefore, Corporation 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. Corporation Bank and Indifi gives the option to close the loan after Zero months at Nil prepayment charges and 4% charges. This makes Corporation Bank a better option for Business Loan.
  • Corporation Bank and Indifi allow part payment on Business Loan after Zero months at Nil charges. Corporation Bank applies a charge of Nil charges and Indifi charges Nil charges on Business Loan.
  • Corporation 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, Corporation Bank should be a preferred choice for relatively new enterprises.
  • Corporation 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 – Corporation Bank or Indifi?

As per the current rates, Corporation Bank offers a lower interest rate of 13.55% on loans compared to Indifi, which offers a Business Loan at 15.00%.

Know all about Business Loan

Know more about Indifi Business Loan

Know more about Corporation Bank Business Loan

Compare Indifi Business Loan With Other Banks

Compare Corporation Bank Business Loan With Other Banks

Know About MSMEs and Mudra Loan

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Business Loan News - Oct 2021
  • 2021-10-11 : IIFL Finance Launches Instant Business Loan
    IIFL Finance has launched instant business loans on WhatsApp to avail of loan amount upto Rs. 10 Lakhs with benefits such as minimum documentation and quick approval.
  • 2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
    IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
  • 2021-10-05 : HDFC Bank Reports Growth in Advances in Q2
    HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
  • 2021-10-04 : Yes Bank Posts Growth in Loans and Deposits
    Yes Bank has posted growth of 3.6% (year-on-year) in advances at Rs 1,72,945 crore for the quarter ended September 2021 (Q2FY22). Its advances stood at Rs 1,66,923 crore at end of September 2020 (Q2FY21).
  • 2021-09-30 : Govt Extends Emergency Credit Scheme for Micro, Small and Medium Enterprises
    The government has extended the emergency credit scheme for MSMEs till 31st March 2022. The new deadline for disbursement of loans under this scheme is 30th June 2021.
*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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