Compare Kotak Bank vs Bank of Baroda 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 Andhra Bank United Bank of India Corporation Bank Syndicate Bank	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%	14.10% - 14.10%
Processing Fees	Processing Fees Maximum 2% of the loan	Upto 1.00%
Loan Amount	Loan Amount ₹ 3 Lakh to ₹ 75 Lakh	₹ 1 Lakh to ₹ 2 Lakh
Loan Tenure	Loan Tenure 24 to 60 Months	12 to 36 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,432	₹ 3,423
Part Payment Charges	Part Payment Charges Not Allowed	Not Allowed
Foreclosure Charges	Foreclosure Charges Allowed after 0 months at 5% charges	Allowed after 1 month at Nil prepayment charges
Eligible Age	Eligible Age 25 to 65 Years	21 to 60 Years
Minimum Years in Business Required	Minimum Years in Business Required NA	NA
Minimum Turnover Required	Minimum Turnover Required ₹ 0	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	5/5.0

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Compare Business Loan EMI of Kotak Bank and Bank of Baroda

Loan Amount	Kotak Bank	Bank of Baroda
₹ 1 Lakh	₹ 2,432	₹ 3,423
₹ 5 Lakh	₹ 12,159	₹ 17,113
₹ 10 Lakh	₹ 24,318	₹ 34,226
₹ 15 Lakh	₹ 36,477	₹ 51,339

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

Kotak Bank offers lower Business Loan EMI at Rs. 2432 for 60 Months compared to Bank of Baroda with a minimum EMI of Rs. 3423 for 36 Months. In addition, average customer ratings for Kotak Bank is currently at /5.0, making it a good choice for taking a Business Loan.

How does Bank of Baroda Business Loan compare with Kotak Bank Business Loan?

A detailed comparison of Bank of Baroda 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 Bank of Baroda Loan is 14.10%, which is lower than the lowest interest rate of Kotak Bank at 16.00%. Hence, Bank of Baroda 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 Bank of Baroda charges a processing fee of Upto Upto 1.00%.
Kotak Bank offers Business Loan upto an amount of ₹ 75 Lakh, while Bank of Baroda offers Loan upto an amount of ₹ 2 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. Kotak Bank gives the option to close the loan after Zero months at 5% charges and Bank of Baroda gives the option to close the loan after 1 months at Nil prepayment charges. This makes Kotak Bank a better option for Business Loan.
Bank of Baroda and Kotak Bank offer a business loan if your business has completed NA months. Hence, Bank of Baroda and Kotak Bank both can be a preferred choice for relatively new enterprises.
Bank of Baroda has an average customer rating of 5. In contrast, has an average customer rating of , based on which it is clear that Bank of Baroda has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Business Loan – Bank of Baroda or Kotak Bank?

As per the current rates, Bank of Baroda offers a lower interest rate of 14.10% on loans compared to Kotak Bank, which offers a Business Loan at 16.00%.

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