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Compare Business Loan - Kotak vs Lendingkart

Bank
Parameters
Interest Rate
Interest Rate
16.00% - 19.99%
18.00% - 24.00%
Processing Fees
Processing Fees
2% of loan amount
Loan Amount
Loan Amount
₹ 3 Lakh to ₹ 75 Lakh
₹ 50,000 to ₹ 1 Cr
Loan Tenure
Loan Tenure
24 to 60 Months
1 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,432
₹ 3,615
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 foreclosure charges
Borrower’s Age
Borrower’s Age
25 to 65 Years
21 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
0 Months
12 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 0
₹ 6 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.7/5.0
Add Bank

Compare EMI of Kotak and Lendingkart Business Loan

Loan Amount Kotak Bank Lendingkart
₹ 1 Lakh ₹ 9,227 ₹ 7,271
₹ 5 Lakh ₹ 46,135 ₹ 36,354
₹ 10 Lakh ₹ 92,270 ₹ 72,709
₹ 15 Lakh ₹ 1,38,405 ₹ 1,09,063

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

Kotak Bank offers lower Business Loan EMI at 2432 on a Business Loan for 60 Months as compared to Lendingkart with a minimum EMI of 3615 for 36 Months. Average customer ratings for Kotak Bank is currently at /5.0 which makes it a good choice for taking a Business Loan.

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

A detailed comparison of Kotak Bank and Lendingkart 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 Kotak Bank Business Loan is 16.00%, which is lower than the lowest interest rate of Lendingkart at 18.00%. Hence, Kotak Bank is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, Kotak Bank charges a processing fees of while Lendingkart charges a processing fees of 2% of loan amount.
  • Lendingkart offers Business Loan upto an amount of ₹ 1 Cr while Kotak Bank offer Business Loan upto an amount of ₹ 75 Lakh. Lendingkart 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. Kotak Bank gives the option to close the loan after Zero months at 5% charges and Lendingkart gives the option to close the loan after 1 months at Nil foreclosure charges. This makes Kotak Bank a better option for Business Loan.
  • Kotak Bank gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from Lendingkart is ₹ 6 Lakh. Hence, small businesses may find is easier to get a loan from Kotak Bank.
  • Kotak Bank can be a better option if you are looking for fund requirements after 0 months. Lendingkart offers a business loan once if business is 12 months old. Hence, Kotak Bank should be a preferred choice for relatively new enterprises.
  • Lendingkart has an average customer ratings of 4.7, while has an average customer rating of , based on which it is clear that Lendingkart has a high customer service focus, an easy Business Loan process and a quick turnaround.

Which bank offers lower interest rate on Business Loan – Kotak Bank or Lendingkart?

As per the current rates, Kotak Bank offers a lower interest rate of 16.00% on Business Loan when compared to Lendingkart which offers a Business Loan at 18.00%.

How can I transfer my Business Loan from Kotak Bank to Lendingkart?

You can transfer your Business Loan from Kotak Bank to Lendingkart with a Business Loan balance transfer. For this, you need to follow a specific procedure that involves clearing off dues, getting a NOC, application to a new bank, getting approval, etc. The Business Loan balance transfer is an excellent way to reduce the loan burden as you can switch to a lower Business Loan interest rate.

How can I choose the best bank for Business Loan?

You can choose the best bank for a Business Loan by making a detailed comparison between top lenders on the basis of interest rates, processing fee or Business Loan offers. Apart from that, you can visit online marketplaces like MyLoanCare to choose the best Business Loan offer. Here, you will get the option of choosing the best bank amongst the shortlisted ones based on your loan requirement.

Which type of Business Loan is the cheapest?

The cheapest Business Loan is the one that is offered at the lowest Business Loan interest rates. This is because the lowest Business Loan interest rates mean the lowest EMI, as the interest charged will be less. Thus, these loans can be attained with the least repayment burden. Currently, Kotak Bank offers the cheapest Business Loan at 16.00%.

How do I check my eligibility for Kotak Bank and Lendingkart Business Loan?

You can check your eligibility for Kotak Bank and Lendingkart Business Loan by using MyLoanCare Business Loan eligibility calculator. You have to enter details like required loan amount, profession, annual profit, work experience etc to check the amount of loan you are eligible for. You can apply loan for the eligible amount to repay the EMI you can comfortably service.

Know all about Business Loan

Know more about Kotak Bank Business Loan

Know more about Lendingkart Business Loan

Compare Kotak Bank Business Loan With Other Banks

Compare Lendingkart Business Loan With Other Banks

Know About MSMEs and Mudra Loan

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Business Loan News - Jan 2021
  • 2021-01-27 : Kotak Mahindra Bank Q3 net profit up 16%
    Kotak Mahindra Bank posted a net profit of Rs 1,853.5 crore as against Rs 1,595.90 crore last year. The bank reported a growth of 16% on a year-on-year basis backed by home, personal, car, two wheeler and gold loan along with business and mudra loans.
  • 2021-01-27 : DCB Bank reported Q3 profit at ₹96.21 crore
    DCB Bank posted a net profit of ₹96.21 crore for the third quarter ended December 2020. Further, it reported a total income of ₹1,023.86 crore backed by home, personal, car, two wheeler and gold loan along with business and mudra loans.
  • 2021-01-27 : Sundaram Home Finance Q3 net rose by 36%
    Sundaram Home Finance posted a 36% growth in its net profit for Q3 to Rs 56.24cror. Disbursements for Q3 stood at Rs 4,16.57 crore backed by home, personal, car, two wheeler and gold loans along with business and mudra loans.
  • 2021-01-25 : Indian Bank posted Q3FY21 net profit at Rs. 526.31 crore
    Indian Bank reported a total income of Rs.11571.33 crores backed by home, personal,education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted net profit of Rs.526.31 crores for the period ended December 31, 2020 as against net profit of Rs.424.14 crores for the period ended September 30, 2020.
  • 2021-01-25 : South India Bank reported 3FY21 loss at Rs. 91.62 crore
    South Indian Bank reported a total income of Rs.2082.08 crores backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted a net loss of Rs.91.6 crores for the period ended December 31, 2020.
*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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