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Compare PNB vs Neogrowth Business Loan

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Bank
Interest Rate
Interest Rate
12.65% - 15.65%
24.00% - 0.00%
Processing Fees
Processing Fees
1.8% + taxes
Upto 3% of loan amount
Loan Amount
Loan Amount
₹ 50,000 to ₹ 15 Lakh
₹ 1 Lakh to ₹ 8 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
9 to 24 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,257
₹ 5,287
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 1 month at Nil charges
Eligible Age
Eligible Age
21 to 58 Years
23 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
12 Months
12 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 0
₹ 24 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.8/5.0
3.8/5.0
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Compare Business Loan EMI of PNB and Neogrowth

Loan Amount PNB Neogrowth
₹ 1 Lakh ₹ 2,257 ₹ 5,287
₹ 5 Lakh ₹ 11,287 ₹ 26,436
₹ 10 Lakh ₹ 22,574 ₹ 52,871
₹ 15 Lakh ₹ 33,861 ₹ 79,307

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

PNB offers lower Business Loan EMI at Rs. 2257 for 60 Months compared to Neogrowth with a minimum EMI of Rs. 5287 for 24 Months. In addition, average customer ratings for PNB is currently at 3.8/5.0, making it a good choice for taking a Business Loan.

How does PNB Business Loan compare with Neogrowth Business Loan?

A detailed comparison of PNB 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 PNB Loan is 12.65%, which is lower than the lowest interest rate of Neogrowth at 24.00%. Hence, PNB is offering a cheaper loan option.
  • Compared to other Business Loan charges such as processing fees, PNB charges a processing fee of 1.8% + taxes, while Neogrowth charges a processing fee of Upto Upto 3% of loan amount.
  • PNB offers Business Loan upto an amount of ₹ 15 Lakh, while Neogrowth offers Loan upto an amount of ₹ 8 Lakh. Therefore, PNB 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. PNB 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 PNB a better option for Business Loan.
  • PNB allows part payment on Business Loan after Zero months at Nil charges, while Neogrowth does not offer a part payment facility. This makes PNB a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • PNB 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 PNB.
  • Neogrowth and PNB offer a business loan if your business has completed 12 months. Hence, Neogrowth and PNB both can be a preferred choice for relatively new enterprises.
  • Neogrowth with an average customer rating of 3.8 is equally comparable to PNB with an average customer rating of 3.8. Hence, the customer can expect the same kind of service levels from these banks.

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

As per the current rates, PNB offers a lower interest rate of 12.65% on loans compared to Neogrowth, which offers a Business Loan at 24.00%.

Know all about Business Loan

Know more about PNB Business Loan

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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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