Compare Business Loan - RBL Bank vs Tata Capital
| Bank |
SBI
HDFC Bank
ICICI Bank
RBL Bank
Lendingkart
Bajaj Finserv
IDFC First Bank
IIFL
Bank of Maharashtra
IndusInd Bank
Kotak Bank
Fullerton India
Ftcash
Indifi
IDBI Bank
Neogrowth
Yes Bank
Allahabad 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
|
|---|---|---|
| Parameters | ||
| Interest Rate | Interest Rate 16.25% - 21.00% |
21.00% - 23.00% |
| Processing Fees | Processing Fees 1.80-2.20% of loan amount |
From 1.50% to 2.50% |
| Loan Amount | Loan Amount ₹ 1 Lakh to ₹ 10 Lakh |
₹ 5 Lakh to ₹ 50 Lakh |
| Loan Tenure | Loan Tenure 12 to 36 Months |
12 to 48 Months |
| Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 3,528 |
₹ 3,097 |
| Part Payment Charges | Part Payment Charges Not Allowed |
Not Allowed |
| Foreclosure Charges | Foreclosure Charges Allowed after 12 months at NIL foreclosure charges |
Allowed after 6 months at 4.5% of outstanding balance |
| Borrower’s Age | Borrower’s Age 25 to 65 Years |
25 to 65 Years |
| Minimum Years in Business Required | Minimum Years in Business Required 36 Months |
60 Months |
| Minimum Turnover Required | Minimum Turnover Required ₹ 25 Lakh |
₹ 1 Cr |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
5/5.0 |
Compare EMI of RBL Bank and Tata Capital Business Loan
| Loan Amount | RBL Bank | Tata Capital |
|---|---|---|
| ₹ 1 Lakh | ₹ 7,865 | ₹ 7,128 |
| ₹ 5 Lakh | ₹ 39,327 | ₹ 35,640 |
| ₹ 10 Lakh | ₹ 78,653 | ₹ 71,280 |
| ₹ 15 Lakh | ₹ 1,17,980 | ₹ 1,06,920 |
Which is a better bank for Business Loan – RBL Bank or Tata Capital?
Tata Capital offers lower Business Loan EMI at 3097 on a Business Loan for 48 Months as compared to RBL Bank with a minimum EMI of 3528 for 36 Months. Average customer ratings for Tata Capital is currently at 5/5.0 which makes it a good choice for taking a Business Loan.
How does RBL Bank Business Loan compare with Tata Capital Business Loan?
A detailed comparison of RBL Bank and Tata Capital 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 RBL Bank Business Loan is 16.25%, which is lower than the lowest interest rate of Tata Capital at 21.00%. Hence, RBL Bank is offering a cheaper loan option.
- When compared on other Business Loan charges such as processing fees, RBL Bank charges a processing fees of 1.80-2.20% of loan amount while Tata Capital charges a processing fees of From 1.50% to 2.50%.
- Tata Capital offers Business Loan upto an amount of ₹ 50 Lakh while RBL Bank offer Business Loan upto an amount of ₹ 10 Lakh. Tata Capital 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. Tata Capital gives the option to close the loan after 6 months at 4.5% of outstanding balance and RBL Bank gives the option to close the loan after 12 months at NIL foreclosure charges . This makes Tata Capital a better option for Business Loan.
- RBL Bank gives business loan at a minimum turnover of ₹ 25 Lakh. However, the turnover requirement for a business loan from Tata Capital is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from RBL Bank.
- RBL Bank can be a better option if you are looking for fund requirements after 36 months. Tata Capital offers a business loan once if business is 60 months old. Hence, RBL Bank should be a preferred choice for relatively new enterprises.
- Tata Capital has an average customer ratings of 5, while has an average customer rating of , based on which it is clear that Tata Capital has a high customer service focus, an easy Business Loan process and a quick turnaround.
Which bank offers lower interest rate on Business Loan – RBL Bank or Tata Capital?
As per the current rates, RBL Bank offers a lower interest rate of 16.25% on Business Loan when compared to Tata Capital which offers a Business Loan at 21.00%.
How can I transfer my Business Loan from RBL Bank to Tata Capital?
You can transfer your Business Loan from RBL Bank to Tata Capital 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, RBL Bank offers the cheapest Business Loan at 16.25%.
How do I check my eligibility for RBL Bank and Tata Capital Business Loan?
You can check your eligibility for RBL Bank and Tata Capital 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 RBL Bank Business Loan
Know more about Tata Capital Business Loan
Compare RBL Bank Business Loan With Other Banks
Compare Tata Capital Business Loan With Other Banks
Know About MSMEs and Mudra Loan
- 2021-01-28 : Axis Bank Q3 net profit down 36%
Axis Bank reported a 36% drop in its net profit in the December quarter. Profit declined to Rs 1,116 crore from Rs 1,757 crore in the same period last year. Provisions in the quarter increased 33% to Rs 4,604 crore against Rs 3,470 crore in the year-ago period . Net interest income (NII), the difference between the interest earned and that paid on deposits which includes FD and RDs rose 14% to Rs 7,372.7 crore - 2021-01-28 : RBL Bank posted a Q3 net profit of ₹147 crore
RBL Bank reported a 110% rise in its net profit year-on-year at ₹147 crore in the quarter ended December 31, 2020. In the corresponding quarter, the bank posted a net profit of ₹6,995 crore. The bank’s total revenue backed by home, personal, car, two-wheeler and gold loans along with business and mudra loans grew by 6% year-on-year to ₹1,488 crore . - 2021-01-28 : Bank of Baroda reported Q3 net profit of ₹1,061 crore
Bank of Baroda posted a net profit of ₹1,061 crore backed by home, personal, car, two-wheeler and gold loans along with business and mudra loans for the third quarter ended December 31, 2020 as compared to a net loss of ₹1,407 crore due to a sharp reduction in provisioning for bad loans. Total income was lower at ₹20,664 crore as compared to ₹21,809 crore in the year earlier. - 2021-01-27 : Kotak Mahindra Bank Q3 net profit up 16%
Kotak Mahindra Bank posted a net profit of Rs 1,853.5 crore as against Rs 1,595.90 crore last year. The bank reported a growth of 16% on a year-on-year basis backed by home, personal, car, two wheeler and gold loan along with business and mudra loans. - 2021-01-27 : DCB Bank reported Q3 profit at ₹96.21 crore
DCB Bank posted a net profit of ₹96.21 crore for the third quarter ended December 2020. Further, it reported a total income of ₹1,023.86 crore backed by home, personal, car, two wheeler and gold loan along with business and mudra loans.
