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Compare Business Loan - Neogrowth vs OBC

Interest Rate
Interest Rate
19.50% - 23.00%
12.65% - 15.65%
Processing Fees
Processing Fees
2.5% of loan amount
0.50% of Loan Amount
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 8 Lakh
₹ 1 Lakh to ₹ 15 Lakh
Loan Tenure
Loan Tenure
9 to 24 Months
12 to 84 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 5,065
₹ 1,800
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 0 months at Nil Prepayment Charges
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil charges
Allowed after 0 months at Nil Prepayment Charges
Borrower’s Age
Borrower’s Age
23 to 65 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
12 Months
0 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 24 Lakh
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Neogrowth and OBC Business Loan

Loan Amount Neogrowth OBC
₹ 1 Lakh ₹ 5,065 ₹ 1,800
₹ 5 Lakh ₹ 25,326 ₹ 9,001
₹ 10 Lakh ₹ 50,652 ₹ 18,002
₹ 15 Lakh ₹ 75,978 ₹ 27,003

Which is a better bank for Business Loan – OBC or Neogrowth?

OBC offers lower Business Loan EMI at 1800 on a Business Loan for 84 Months as compared to Neogrowth with a minimum EMI of 5065 for 24 Months. Average customer ratings for OBC is currently at /5.0 which makes it a good choice for taking a Business Loan.

How does OBC Business Loan compare with Neogrowth Business Loan?

A detailed comparison of OBC and Neogrowth 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 OBC Business Loan is 12.65%, which is lower than the lowest interest rate of Neogrowth at 19.50%. Hence, OBC is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, Neogrowth charges a processing fees of 2.5% of loan amount while OBC charges a processing fees of 0.50% of Loan Amount.
  • OBC offers Business Loan upto an amount of ₹ 15 Lakh while Neogrowth offer Business Loan upto an amount of ₹ 8 Lakh. OBC 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. OBC gives the option to close the loan after Zero months at Nil Prepayment Charges and Neogrowth gives the option to close the loan after 1 months at Nil charges. This makes OBC a better option for Business Loan.
  • OBC allows part payment on Business Loan after Zero months at Nil charges, while Neogrowth does not offer part payment facility on Business Loan. This makes OBC a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • OBC gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from Neogrowth is ₹ 24 Lakh. Hence, small businesses may find is easier to get a loan from OBC.
  • OBC can be a better option if you are looking for fund requirements after 0 months. Neogrowth offers a business loan once if business is 12 months old. Hence, OBC should be a preferred choice for relatively new enterprises.
  • with an average customer ratings of is equally comparable to with an average customer rating of . Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers lower interest rate on Business Loan – OBC or Neogrowth?

As per the current rates, OBC offers a lower interest rate of 12.65% on Business Loan when compared to Neogrowth which offers a Business Loan at 19.50%.

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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.
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