Compare Business Loan - OBC vs Syndicate
| Bank |
SBI
HDFC Bank
ICICI Bank
RBL Bank
Tata Capital
Lendingkart
Bajaj Finserv
IDFC First Bank
IIFL
Bank of Maharashtra
IndusInd Bank
Kotak Bank
Fullerton India
IDBI Bank
Neogrowth
Indifi
Allahabad Bank
Yes Bank
PNB
OBC
Indian Overseas Bank
Dhan Laxmi Bank
DCB Bank
Andhra Bank
United Bank of India
Corporation Bank
Bank of Baroda
|
SBI
HDFC Bank
ICICI Bank
RBL Bank
Tata Capital
Lendingkart
Bajaj Finserv
IDFC First Bank
IIFL
Bank of Maharashtra
IndusInd Bank
Kotak Bank
Fullerton India
IDBI Bank
Neogrowth
Indifi
Allahabad Bank
Yes Bank
PNB
Indian Overseas Bank
Dhan Laxmi Bank
DCB Bank
Andhra Bank
United Bank of India
Corporation Bank
Syndicate Bank
Bank of Baroda
|
|---|---|---|
| Parameters | ||
| Interest Rate | Interest Rate 12.65% - 15.65% |
12.65% - 13.65% |
| Processing Fees | Processing Fees 0.50% of Loan Amount |
0.5%, Min Rs. 500 |
| Loan Amount | Loan Amount ₹ 1 Lakh to ₹ 15 Lakh |
₹ 50,000 to ₹ 5 Lakh |
| Loan Tenure | Loan Tenure 12 to 84 Months |
12 to 60 Months |
| Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 1,800 |
₹ 2,257 |
| Part Payment Charges | Part Payment Charges Allowed after 0 months at Nil Prepayment Charges |
Allowed after 0 months at Nil prepayment charges |
| Foreclosure Charges | Foreclosure Charges Allowed after 0 months at Nil Prepayment Charges |
Allowed after 0 months at Nil prepayment charges |
| Borrower’s Age | Borrower’s Age 25 to 65 Years |
21 to 58 Years |
| Minimum Years in Business Required | Minimum Years in Business Required 0 Months |
0 Months |
| Minimum Turnover Required | Minimum Turnover Required ₹ 0 |
₹ 0 |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
|
Compare EMI of OBC and Syndicate Business Loan
| Loan Amount | OBC | Syndicate Bank |
|---|---|---|
| ₹ 1 Lakh | ₹ 12,172 | ₹ 10,857 |
| ₹ 5 Lakh | ₹ 60,860 | ₹ 54,284 |
| ₹ 10 Lakh | ₹ 1,21,720 | ₹ 1,08,567 |
| ₹ 15 Lakh | ₹ 1,82,580 | ₹ 1,62,851 |
Which is a better bank for Business Loan – OBC or Syndicate Bank?
OBC offers lower Business Loan EMI at 1800 on a Business Loan for 84 Months as compared to Syndicate Bank with a minimum EMI of 2257 for 60 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 Syndicate Bank Business Loan?
A detailed comparison of OBC and Syndicate Bank 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 and Syndicate Bank Business Loan is 12.65%. Hence, both banks are at par in terms of interest rate on Business Loan
- When compared on other Business Loan charges such as processing fees, OBC charges a processing fees of 0.50% of Loan Amount while Syndicate Bank charges a processing fees of 0.5%, Min Rs. 500.
- OBC offers Business Loan upto an amount of ₹ 15 Lakh while Syndicate Bank offer Business Loan upto an amount of ₹ 5 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 and Syndicate Bank gives the option to close the loan after Zero months at Nil Prepayment Charges and Nil prepayment charges. This makes OBC a better option for Business Loan.
- OBC and Syndicate Bank allow part payment on Business Loan after Zero months at Nil charges. OBC applies a charge of Nil charges and Syndicate Bank charges Nil charges on Business Loan.
- OBC and Syndicate Bank offer a business loan if your business has completed 0 months. Hence, OBC and Syndicate Bank both can 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 Syndicate Bank?
The lowest interest rate for both OBC and Syndicate Bank on Business Loan currently starts from 12.65%. Hence, both banks are a good choice for potential borrowers.
How can I transfer my Business Loan from OBC to Syndicate Bank?
You can transfer your Business Loan from OBC to Syndicate Bank with a Business Loan balance transfer. For this, you need to follow a specific procedure that involves clearing off dues, getting a NOC, application to a new bank, getting approval, etc. The Business Loan balance transfer is an excellent way to reduce the loan burden as you can switch to a lower Business Loan interest rate.
How can I choose the best bank for Business Loan?
You can choose the best bank for a Business Loan by making a detailed comparison between top lenders on the basis of interest rates, processing fee or Business Loan offers. Apart from that, you can visit online marketplaces like MyLoanCare to choose the best Business Loan offer. Here, you will get the option of choosing the best bank amongst the shortlisted ones based on your loan requirement.
Which type of Business Loan is the cheapest?
The cheapest Business Loan is the one that is offered at the lowest Business Loan interest rates. This is because the lowest Business Loan interest rates mean the lowest EMI, as the interest charged will be less. Thus, these loans can be attained with the least repayment burden. Currently, OBC and Syndicate Bank offer the cheapest Business Loan at 12.65%.
How do I check my eligibility for OBC and Syndicate Bank Business Loan?
You can check your eligibility for OBC and Syndicate Bank Business Loan by using MyLoanCare Business Loan eligibility calculator. You have to enter details like required loan amount, profession, annual profit, work experience etc to check the amount of loan you are eligible for. You can apply loan for the eligible amount to repay the EMI you can comfortably service.
Know all about Business Loan
Know more about OBC Business Loan
Know more about Syndicate Bank Business Loan
Compare OBC Business Loan With Other Banks
Compare Syndicate Bank Business Loan With Other Banks
Know About MSMEs and Mudra Loan
- 2021-01-19 : Bank of Maharashtra reported Q3 profit up of ₹154 crore
Bank of Maharashtra reported a net profit of Rs. ₹154 crores in the third quarter ended December 31, 2020, against ₹135 crores in the year-ago quarter. Advances that include home, personal, car, two-wheeler and gold loan along with business and mudra loans increased by 12 per cent year-on-year to ₹1,04,904 crore. Further, deposits which include FD and Rds increased by 14% to ₹1,61,971 crore. The share of the low-cost current account, savings account (CASA) deposits improved to 50.91% of total deposits from 50.51% in the preceding quarter. - 2021-01-18 : Karnataka Bank Q3 net profit rises to ₹135 cr
Karnataka Bank posted a net profit of Rs 135 crore for the December quarter of current financial year with a growth rate of 10%. Further, net interest income rose 21% to ₹614 crore from ₹508 crore in Q3FY20. - 2021-01-08 : IndusInd Bank reported 11% growth in Q3 deposits
IndusInd Bank posted a 3.2% quarter-on-quarter growth in the net advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans in the December quarter. Further, the bank also posted a 5% quarterly growth in deposits which includes fixed and recurring deposits. - 2021-01-08 : HDFC Bank posted a double-digit increase in deposits and advances
HDFC Bank reported a double-digit increase in deposits and advances in the third quarter of the fiscal year. The bank advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans hiked by 16% to Rs 10.82-lakh crore as on December 31, 2020. Further, the bank’s deposits rose by 19% in the third quarter of the fiscal to Rs 12.71-lakh crore. The CASA ratio is reported at around 43% as of December 31, 2020. - 2021-01-06 : Yes Bank reported 1.3% quarterly growth in loans and advances
Yes Bank registered 1.3% quarter-on-quarter growth in loans and advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans to Rs 1.69 lakh crore during the December quarter. Deposits which include fixed and recurring deposits grew 7.7% to Rs 1.46 lakh crore. Further, the current account and savings account deposits grew 12.6% to Rs 37,973 crore.
