Compare RBL Bank vs Allahabad Bank Business Loan

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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 Ftcash Indifi Neogrowth IDBI Bank Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda	SBI HDFC Bank ICICI Bank Tata Capital Lendingkart Bajaj Finserv IDFC First Bank IIFL Bank of Maharashtra IndusInd Bank Kotak Bank Fullerton India Ftcash Indifi Neogrowth IDBI Bank Allahabad Bank Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda
Interest Rate	Interest Rate 18.50% - 21.00%	14.50% - 18.60%
Processing Fees	Processing Fees 2.50-3.00% of loan amount	Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928
Loan Amount	Loan Amount ₹ 1 Lakh to ₹ 10 Lakh	₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure	Loan Tenure 12 to 36 Months	12 to 84 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,640	₹ 1,902
Part Payment Charges	Part Payment Charges Not Allowed	Allowed after 0 months at 2.25%
Foreclosure Charges	Foreclosure Charges Allowed after 12 months at NIL foreclosure charges	Allowed after 0 months at 2.25%
Eligible Age	Eligible Age 27 to 65 Years	25 to 65 Years
Minimum Years in Business Required	Minimum Years in Business Required 36 Months	36 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 1 Cr	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)

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Compare Business Loan EMI of RBL Bank and Allahabad Bank

Loan Amount	RBL Bank	Allahabad Bank
₹ 1 Lakh	₹ 3,640	₹ 1,902
₹ 5 Lakh	₹ 18,202	₹ 9,509
₹ 10 Lakh	₹ 36,404	₹ 19,017
₹ 15 Lakh	₹ 54,606	₹ 28,526

Which is a better bank for Business Loan – Allahabad Bank or RBL Bank?

Allahabad Bank offers lower Business Loan EMI at Rs. 1902 for 84 Months compared to RBL Bank with a minimum EMI of Rs. 3640 for 36 Months. In addition, average customer ratings for Allahabad Bank is currently at /5.0, making it a good choice for taking a Business Loan.

How does Allahabad Bank Business Loan compare with RBL Bank Business Loan?

A detailed comparison of Allahabad Bank and RBL 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 Allahabad Bank Loan is 14.50%, which is lower than the lowest interest rate of RBL Bank at 18.50%. Hence, Allahabad Bank is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, RBL Bank charges a processing fee of 2.50-3.00% of loan amount, while Allahabad Bank charges a processing fee of Upto Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928.
Allahabad Bank offers Business Loan upto an amount of ₹ 20 Lakh, while RBL Bank offers Loan upto an amount of ₹ 10 Lakh. Therefore, Allahabad Bank 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. Allahabad Bank gives the option to close the loan after Zero months at 2.25% and RBL Bank gives the option to close the loan after 12 months at NIL foreclosure charges . This makes Allahabad Bank a better option for Business Loan.
Allahabad Bank allows part payment on Business Loan after Zero months at 2.25%, while RBL Bank does not offer a part payment facility. This makes Allahabad Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
Allahabad Bank gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from RBL Bank is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from Allahabad Bank.
Allahabad Bank and RBL Bank offer a business loan if your business has completed 36 months. Hence, Allahabad Bank and RBL Bank both can be a preferred choice for relatively new enterprises.
with an average customer rating 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 a lower interest rate on Business Loan – Allahabad Bank or RBL Bank?

As per the current rates, Allahabad Bank offers a lower interest rate of 14.50% on loans compared to RBL Bank, which offers a Business Loan at 18.50%.

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