MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹1,000* on Business Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare RBL Bank vs Bank of Maharashtra Business Loan

Download Comparison
Bank
Interest Rate
Interest Rate
18.50% - 21.00%
14.50% - 15.50%
Processing Fees
Processing Fees
2.50-3.00% of loan amount
Upto 3% of the loan amount
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 10 Lakh
₹ 50,000 to ₹ 1.50 Lakh
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,640
₹ 3,442
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at NIL foreclosure charges
Not Allowed
Eligible Age
Eligible Age
27 to 65 Years
21 to 60 Years
Minimum Years in Business Required
Minimum Years in Business Required
36 Months
NA
Minimum Turnover Required
Minimum Turnover Required
₹ 1 Cr
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
Add Bank

Compare Business Loan EMI of RBL Bank and Bank of Maharashtra

Loan Amount RBL Bank Bank of Maharashtra
₹ 1 Lakh ₹ 3,640 ₹ 3,442
₹ 5 Lakh ₹ 18,202 ₹ 17,210
₹ 10 Lakh ₹ 36,404 ₹ 34,421
₹ 15 Lakh ₹ 54,606 ₹ 51,631

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

Bank of Maharashtra offers lower Business Loan EMI at Rs. 3442 for 36 Months compared to RBL Bank with a minimum EMI of Rs. 3640 for 36 Months. In addition, average customer ratings for Bank of Maharashtra is currently at /5.0, making it a good choice for taking a Business Loan.

How does Bank of Maharashtra Business Loan compare with RBL Bank Business Loan?

A detailed comparison of Bank of Maharashtra 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 Bank of Maharashtra Loan is 14.50%, which is lower than the lowest interest rate of RBL Bank at 18.50%. Hence, Bank of Maharashtra 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 Bank of Maharashtra charges a processing fee of Upto Upto 3% of the loan amount.
  • RBL Bank offers Business Loan upto an amount of ₹ 10 Lakh, while Bank of Maharashtra offers Loan upto an amount of ₹ 1.50 Lakh. Therefore, RBL 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. Bank of Maharashtra gives the option to close the loan after Zero months at , while RBL Bank does not offer foreclosure facility on Business Loan. This makes Bank of Maharashtra a better option for Business Loan.
  • Bank of Maharashtra 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 Bank of Maharashtra.
  • RBL Bank can be a better option if you are looking for fund requirements after 36 months. Bank of Maharashtra offers a business loan once if business is NA months old. Hence, RBL Bank should 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 – Bank of Maharashtra or RBL Bank?

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

Know all about Business Loan

Know more about RBL Bank Business Loan

Know more about Bank of Maharashtra Business Loan

Compare RBL Bank Business Loan With Other Banks

Compare Bank of Maharashtra Business Loan With Other Banks

Know About MSMEs and Mudra Loan

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Business Loan News - Oct 2021
  • 2021-10-18 : HDFC Bank Posts 17.2 Percent Profits In Q2
    Private sector bank, HDFC Bank has posted a 17.6 percent rise in net profit at Rs 8,834.3 crore in the second quarter ended September 30, 2021. The lender had posted a net profit of Rs 7,513.1 crore in Q2 of 2020.
  • 2021-10-11 : IIFL Finance Launches Instant Business Loan
    IIFL Finance has launched instant business loans on WhatsApp to avail of loan amount upto Rs. 10 Lakhs with benefits such as minimum documentation and quick approval.
  • 2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
    IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
  • 2021-10-05 : HDFC Bank Reports Growth in Advances in Q2
    HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
  • 2021-10-04 : Yes Bank Posts Growth in Loans and Deposits
    Yes Bank has posted growth of 3.6% (year-on-year) in advances at Rs 1,72,945 crore for the quarter ended September 2021 (Q2FY22). Its advances stood at Rs 1,66,923 crore at end of September 2020 (Q2FY21).
*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
Loader
Please wait while your information is being processed...