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Compare Lendingkart vs Bank of Maharashtra Business Loan

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Bank
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%.

Know all about Business Loan

Know more about Lendingkart Business Loan

Know more about Bank of Maharashtra Business Loan

Compare Lendingkart Business Loan With Other Banks

Compare Bank of Maharashtra Business Loan With Other Banks

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    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.
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*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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