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Compare RBL Bank vs IDBI Bank Business Loan

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Bank
Interest Rate
Interest Rate
18.50% - 21.00%
12.25% - 13.50%
Processing Fees
Processing Fees
2.50-3.00% of loan amount
1.00%
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 10 Lakh
₹ 50,000 to ₹ 5 Lakh
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,640
₹ 2,237
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at NIL foreclosure charges
Allowed after 1 month at Before 6 months - 2%, After that Nil prepayment charges
Eligible Age
Eligible Age
27 to 65 Years
22 to 58 Years
Minimum Years in Business Required
Minimum Years in Business Required
36 Months
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 1 Cr
₹ 30 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Business Loan EMI of RBL Bank and IDBI Bank

Loan Amount RBL Bank IDBI Bank
₹ 1 Lakh ₹ 3,640 ₹ 2,237
₹ 5 Lakh ₹ 18,202 ₹ 11,185
₹ 10 Lakh ₹ 36,404 ₹ 22,371
₹ 15 Lakh ₹ 54,606 ₹ 33,556

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

IDBI Bank offers lower Business Loan EMI at Rs. 2237 for 60 Months compared to RBL Bank with a minimum EMI of Rs. 3640 for 36 Months. In addition, average customer ratings for IDBI Bank is currently at /5.0, making it a good choice for taking a Business Loan.

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

A detailed comparison of IDBI 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 IDBI Bank Loan is 12.25%, which is lower than the lowest interest rate of RBL Bank at 18.50%. Hence, IDBI 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 IDBI Bank charges a processing fee of Upto 1.00%.
  • RBL Bank offers Business Loan upto an amount of ₹ 10 Lakh, while IDBI Bank offers Loan upto an amount of ₹ 5 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. IDBI Bank gives the option to close the loan after 1 months at Before 6 months - 2%, After that Nil prepayment charges and RBL Bank gives the option to close the loan after 12 months at NIL foreclosure charges . This makes IDBI Bank a better option for Business Loan.
  • IDBI Bank gives business loan at a minimum turnover of ₹ 30 Lakh. 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 IDBI Bank.
  • IDBI Bank and RBL Bank offer a business loan if your business has completed 36 months. Hence, IDBI 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 – IDBI Bank or RBL Bank?

As per the current rates, IDBI Bank offers a lower interest rate of 12.25% 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 IDBI Bank Business Loan

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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
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