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Compare Business Loan - Lendingkart vs Bajaj Finance

Bank
Parameters
Interest Rate
Interest Rate
18.00% - 24.00%
18.00% - 22.00%
Processing Fees
Processing Fees
2% of loan amount
Upto 2% of loan amount
Loan Amount
Loan Amount
₹ 50,000 to ₹ 1 Cr
₹ 5 Lakh to ₹ 30 Lakh
Loan Tenure
Loan Tenure
1 to 36 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,615
₹ 2,937
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 1 month at 2%
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil foreclosure charges
Allowed after 1 month at 4%
Borrower’s Age
Borrower’s Age
21 to 65 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
12 Months
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 6 Lakh
₹ 12 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.7/5.0
4/5.0
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Compare EMI of Lendingkart and Bajaj Finance Business Loan

Loan Amount Lendingkart Bajaj Finserv
₹ 1 Lakh ₹ 7,271 ₹ 7,899
₹ 5 Lakh ₹ 36,354 ₹ 39,497
₹ 10 Lakh ₹ 72,709 ₹ 78,993
₹ 15 Lakh ₹ 1,09,063 ₹ 1,18,490

Which is a better bank for Business Loan – Bajaj Finserv or Lendingkart?

Bajaj Finserv offers lower Business Loan EMI at 2937 on a Business Loan for 48 Months as compared to Lendingkart with a minimum EMI of 3615 for 36 Months. Average customer ratings for Bajaj Finserv is currently at 4/5.0 which makes it a good choice for taking a Business Loan.

How does Bajaj Finserv Business Loan compare with Lendingkart Business Loan?

A detailed comparison of Bajaj Finserv 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 Bajaj Finserv and Lendingkart Business Loan is 18.00%. Hence, both banks are at par in terms of interest rate on Business Loan
  • When compared on other Business Loan charges such as processing fees, Lendingkart charges a processing fees of 2% of loan amount while Bajaj Finserv charges a processing fees of Upto 2% of loan amount.
  • Lendingkart offers Business Loan upto an amount of ₹ 1 Cr while Bajaj Finserv offer Business Loan upto an amount of ₹ 30 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. Bajaj Finserv and Lendingkart gives the option to close the loan after 1 months at 4% and Nil foreclosure charges. This makes Bajaj Finserv a better option for Business Loan.
  • Bajaj Finserv allows part payment on Business Loan after 1 months at 2%, while Lendingkart does not offer part payment facility on Business Loan. This makes Bajaj Finserv a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • Lendingkart gives business loan at a minimum turnover of ₹ 6 Lakh. However, the turnover requirement for a business loan from Bajaj Finserv is ₹ 12 Lakh. Hence, small businesses may find is easier to get a loan from Lendingkart.
  • Lendingkart can be a better option if you are looking for fund requirements after 12 months. Bajaj Finserv offers a business loan once if business is 36 months old. Hence, Lendingkart should be a preferred choice for relatively new enterprises.
  • Lendingkart has an average customer ratings of 4.7, while Bajaj Finserv has an average customer rating of 4, 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 – Bajaj Finserv or Lendingkart?

The lowest interest rate for both Bajaj Finserv and Lendingkart on Business Loan currently starts from 18.00%. Hence, both banks are a good choice for potential borrowers.

How can I transfer my Business Loan from Lendingkart to Bajaj Finserv?

You can transfer your Business Loan from Lendingkart to Bajaj Finserv 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, Bajaj Finserv and Lendingkart offer the cheapest Business Loan at 18.00%.

How do I check my eligibility for Lendingkart and Bajaj Finserv Business Loan?

You can check your eligibility for Lendingkart and Bajaj Finserv 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 Lendingkart Business Loan

Know more about Bajaj Finserv Business Loan

Compare Lendingkart Business Loan With Other Banks

Compare Bajaj Finserv 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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