Compare Lendingkart vs Bank of Maharashtra Business Loan

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Bank	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Lendingkart Bajaj Finserv IDFC First Bank IIFL IndusInd Bank Kotak Bank Fullerton India Ftcash Indifi IDBI Bank Neogrowth Yes Bank Allahabad Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Bajaj Finserv IDFC First Bank IIFL Bank of Maharashtra IndusInd Bank Kotak Bank Fullerton India Ftcash Indifi IDBI Bank Neogrowth Yes Bank Allahabad 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 12.00% - 24.00%	14.50% - 15.50%
Processing Fees	Processing Fees 2% to 3% of loan amount	Upto 3% of the loan amount
Loan Amount	Loan Amount ₹ 50,000 to ₹ 1 Cr	₹ 50,000 to ₹ 1.50 Lakh
Loan Tenure	Loan Tenure 1 to 36 Months	12 to 36 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,321	₹ 3,442
Part Payment Charges	Part Payment Charges Not Allowed	Not Allowed
Foreclosure Charges	Foreclosure Charges Allowed after 1 month at Nil foreclosure charges	Not Allowed
Eligible Age	Eligible Age 21 to 65 Years	21 to 60 Years
Minimum Years in Business Required	Minimum Years in Business Required 12 Months	NA
Minimum Turnover Required	Minimum Turnover Required ₹ 90,000	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.7/5.0	4.7/5.0

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Compare Business Loan EMI of Lendingkart and Bank of Maharashtra

Loan Amount	Lendingkart	Bank of Maharashtra
₹ 1 Lakh	₹ 3,321	₹ 3,442
₹ 5 Lakh	₹ 16,607	₹ 17,210
₹ 10 Lakh	₹ 33,214	₹ 34,421
₹ 15 Lakh	₹ 49,821	₹ 51,631

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

Lendingkart offers lower Business Loan EMI at Rs. 3321 for 36 Months compared to Bank of Maharashtra with a minimum EMI of Rs. 3442 for 36 Months. In addition, average customer ratings for Lendingkart is currently at 4.7/5.0, making it a good choice for taking a Business Loan.

How does Lendingkart Business Loan compare with Bank of Maharashtra Business Loan?

A detailed comparison of Lendingkart and Bank of Maharashtra 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 Lendingkart Loan is 12.00%, which is lower than the lowest interest rate of Bank of Maharashtra at 14.50%. Hence, Lendingkart is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, Lendingkart charges a processing fee of 2% to 3% of loan amount, while Bank of Maharashtra charges a processing fee of Upto Upto 3% of the loan amount.
Lendingkart offers Business Loan upto an amount of ₹ 1 Cr, while Bank of Maharashtra offers Loan upto an amount of ₹ 1.50 Lakh. Therefore, 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 the foreclosure facility. Bank of Maharashtra gives the option to close the loan after Zero months at , while Lendingkart does not offer foreclosure facility on Business Loan. This makes Bank of Maharashtra a better option for Business Loan.
Bank of Maharashtra gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from Lendingkart is ₹ 90,000 . Hence, small businesses may find is easier to get a loan from Bank of Maharashtra.
Lendingkart can be a better option if you are looking for fund requirements after 12 months. Bank of Maharashtra offers a business loan once if business is NA months old. Hence, Lendingkart should be a preferred choice for relatively new enterprises.
Bank of Maharashtra with an average customer rating of 4.7 is equally comparable to Lendingkart with an average customer rating of 4.7. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Business Loan – Lendingkart or Bank of Maharashtra?

As per the current rates, Lendingkart offers a lower interest rate of 12.00% on loans compared to Bank of Maharashtra, which offers a Business Loan at 14.50%.

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Know more about Lendingkart Business Loan

Know more about Bank of Maharashtra Business Loan

Compare Lendingkart Business Loan With Other Banks

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Business Loan News - Dec 2022

2022-11-02 : Karnataka Bank Registers Net Profit in the Q2 of 2022-23
The bank has registered a net profit of ₹411.63 crores in the Q2 of 2022-23. In the corresponding quarter, it saw ₹125.61 crores, thus registering a growth of 227.70 percent.
2022-10-18 : SBI Credit Card Holders ALERT! State Bank hikes charges on EMI transactions, Rent Payments
In a move that may further make credit card usage costlier, the State Bank of India has revised certain charges for its credit card users. The new charges will come into effect from November 15. The processing fee on merchant EMI transactions has been revised to Rs 199 + applicable taxes from earlier Rs 99 + applicable taxes. Processing fee on rent payment transactions will be Rs 99 + applicable taxes," said the bank.
2022-10-18 : SBI launches its digital banking unit in Goa
As part of the Union government’s initiative, a digital banking unit (DBU) of the State Bank of India (SBI) was inaugurated in Goa. The initiative aims to ensure that the benefits of digital banking reach every nook and corner of the country. The DBUs will offer banking products and services to the customers 24x7.
2022-09-09 : HDFC Bank to introduce 10-second personal loan service
India’s largest private sector lender HDFC Bank is aiming at introducing the 10-seconds loan service for everyone including those who do not have an account with the bank. The bank has been a paradigm pioneer in 10-second loans for existing customers and has been able to deliver this over the past six years.
2022-08-18 : HDFC bank opens its first all women branch in Kerela`s kozhikode.
HDFC has opened its first all-women branch in Kozhikode. The branch, located in Cherootty Road, the hub of traders in the district, will have 4 women bankers. HDFC Bank is driving diversity and inclusion within the organization with a special focus on enhancing gender diversity.

*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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