Compare Kotak Bank 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 Fullerton India Ftcash Indifi Neogrowth IDBI Bank 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 16.00% - 19.99%	15.75% - 16.00%
Processing Fees	Processing Fees Maximum 2% of the loan	Case to Case
Loan Amount	Loan Amount ₹ 3 Lakh to ₹ 75 Lakh	₹ 50,000 to ₹ 5 Lakh
Loan Tenure	Loan Tenure 24 to 60 Months	12 to 60 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,432	₹ 2,419
Part Payment Charges	Part Payment Charges Not Allowed	Allowed after 0 months at Nil prepayment charges
Foreclosure Charges	Foreclosure Charges Allowed after 0 months at 5% charges	Allowed after 0 months at Nil prepayment charges
Eligible Age	Eligible Age 25 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)

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Compare Business Loan EMI of Kotak Bank and Andhra Bank

Loan Amount	Kotak Bank	Andhra Bank
₹ 1 Lakh	₹ 2,432	₹ 2,419
₹ 5 Lakh	₹ 12,159	₹ 12,093
₹ 10 Lakh	₹ 24,318	₹ 24,185
₹ 15 Lakh	₹ 36,477	₹ 36,278

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

Andhra Bank offers lower Business Loan EMI at Rs. 2419 for 60 Months compared to Kotak Bank with a minimum EMI of Rs. 2432 for 60 Months. In addition, average customer ratings for Andhra Bank is currently at /5.0, making it a good choice for taking a Business Loan.

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

A detailed comparison of Andhra Bank and Kotak 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 Andhra Bank Loan is 15.75%, which is lower than the lowest interest rate of Kotak Bank at 16.00%. Hence, Andhra Bank is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, Kotak Bank charges a processing fee of Maximum 2% of the loan, while Andhra Bank charges a processing fee of Upto Case to Case.
Kotak Bank offers Business Loan upto an amount of ₹ 75 Lakh, while Andhra Bank offers Loan upto an amount of ₹ 5 Lakh. Therefore, Kotak 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. Andhra Bank and Kotak Bank gives the option to close the loan after Zero months at Nil prepayment charges and 5% charges. This makes Andhra Bank a better option for Business Loan.
Andhra Bank allows part payment on Business Loan after Zero months at Nil charges, while Kotak Bank does not offer a part payment facility. This makes Andhra Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
Andhra Bank can be a better option if you are looking for fund requirements after 12 months. Kotak Bank offers a business loan once if business is NA months old. Hence, Andhra Bank should 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 – Andhra Bank or Kotak Bank?

As per the current rates, Andhra Bank offers a lower interest rate of 15.75% on loans compared to Kotak Bank, which offers a Business Loan at 16.00%.

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