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 Bank of Maharashtra Business Loan

Compare Lendingkart Business Loan With Other Banks

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Business Loan News - Oct 2021

2021-10-11 : IIFL Finance Launches Instant Business Loan
IIFL Finance has launched instant business loans on WhatsApp to avail of loan amount upto Rs. 10 Lakhs with benefits such as minimum documentation and quick approval.
2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
2021-10-05 : HDFC Bank Reports Growth in Advances in Q2
HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
2021-10-04 : Yes Bank Posts Growth in Loans and Deposits
Yes Bank has posted growth of 3.6% (year-on-year) in advances at Rs 1,72,945 crore for the quarter ended September 2021 (Q2FY22). Its advances stood at Rs 1,66,923 crore at end of September 2020 (Q2FY21).
2021-09-30 : Govt Extends Emergency Credit Scheme for Micro, Small and Medium Enterprises
The government has extended the emergency credit scheme for MSMEs till 31st March 2022. The new deadline for disbursement of loans under this scheme is 30th June 2021.

*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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