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Compare Business Loan - Lendingkart vs Indifi

Bank
Parameters
Interest Rate
Interest Rate
18.00% - 24.00%
24.00% - 32.00%
Processing Fees
Processing Fees
2% of loan amount
2 to 3%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 1 Cr
₹ 1 Lakh to ₹ 50 Lakh
Loan Tenure
Loan Tenure
1 to 36 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,615
₹ 2,877
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 0 months at Nil charges
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil foreclosure charges
Allowed after 0 months at 4% charges
Borrower’s Age
Borrower’s Age
21 to 65 Years
23 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
12 Months
0 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 6 Lakh
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.7/5.0
5/5.0
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Compare EMI of Lendingkart and Indifi Business Loan

Loan Amount Lendingkart Indifi
₹ 1 Lakh ₹ 3,615 ₹ 2,877
₹ 5 Lakh ₹ 18,076 ₹ 14,384
₹ 10 Lakh ₹ 36,152 ₹ 28,768
₹ 15 Lakh ₹ 54,229 ₹ 43,152

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

Indifi offers lower Business Loan EMI at 2877 on a Business Loan for 60 Months as compared to Lendingkart with a minimum EMI of 3615 for 36 Months. Average customer ratings for Indifi is currently at 5/5.0 which makes it a good choice for taking a Business Loan.

How does Lendingkart Business Loan compare with Indifi Business Loan?

A detailed comparison of Lendingkart and Indifi 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 Business Loan is 18.00%, which is lower than the lowest interest rate of Indifi at 24.00%. Hence, Lendingkart is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, Lendingkart charges a processing fees of 2% of loan amount while Indifi charges a processing fees of 2 to 3%.
  • Lendingkart offers Business Loan upto an amount of ₹ 1 Cr while Indifi offer Business Loan upto an amount of ₹ 50 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. Indifi gives the option to close the loan after Zero months at 4% charges and Lendingkart gives the option to close the loan after 1 months at Nil foreclosure charges. This makes Indifi a better option for Business Loan.
  • Indifi allows part payment on Business Loan after Zero months at Nil charges, while Lendingkart does not offer part payment facility on Business Loan. This makes Indifi a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • Indifi 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 Indifi.
  • Indifi 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, Indifi should be a preferred choice for relatively new enterprises.
  • Indifi has an average customer ratings of 5, while Lendingkart has an average customer rating of 4.7, based on which it is clear that Indifi has a high customer service focus, an easy Business Loan process and a quick turnaround.

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

As per the current rates, Lendingkart offers a lower interest rate of 18.00% on Business Loan when compared to Indifi which offers a Business Loan at 24.00%.

Know all about Business Loan

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Know About MSMEs and Mudra Loan

Business Loan News - Apr 2021
  • 2021-04-13 : Bandhan Bank’s collection efficiency ratio at 96% in Q4
    Bandhan Bank reported an overall collection efficiency of 96% for the quarter ending March 2021. Total advances which include retail loans like home, personal, business, car, two-wheeler education and doctor loan along with business and mudra loans grew by 21% at ₹87,054 crores. Deposits which includes fixed and recurring deposits grew by 37% at ₹77,972 crores. Further, CASA deposits increased by 61 per cent at ₹33,827 crores.
  • 2021-04-12 : Rs. 15 lakh crores sanctioned under the Mudra Yojna in last 6 years
    The finance ministry reported that banks and financial institutions have sanctioned Rs. 15 lakh crores to over 28.68 crores beneficiaries in the last 6 years. Prime Minister Mudra Yojna or PMMY was launched in April 2015 with an aim to promote entrepreneurship.
  • 2021-04-07 : IIFL Home Finance signs co-lending agreement with Standard Chartered Bank
    IIFL Home Finance and Standard Chartered Bank have entered into a co-lending arrangement for extending credit. Under this agreement, IIFL Home Finance and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.
  • 2021-04-05 : Yes Bank Jan-March deposits up 54% to 162, 947
    Yes Bank reported that the bank’s loan and advances which include home, personal, LAP, gold, two-wheeler, car and doctor loans along with business and mudra loans increased by 0.8% in year-on-year (YoY) terms to Rs. 172,850 crores. In addition to this, the bank deposit which includes fixed and recurring deposits grew 54.7% to Rs. 162,947 crores as compared to ₹105,364 crores on a yearly basis. The CASA(current and savings account) was up 51.8% to Rs. 42,587 crores against Rs. 28,063 crores YoY.
  • 2021-04-05 : Karnataka Bank targeting 1.42 lakh business turnover in FY 22
    Karnataka Bank is looking for 12% business growth in the current fiscal and targeting 1.42 lakh business turnover. The bank emphasised that it is planning to leverage digital banking to achieve its target.
*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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