Compare SBI vs Indifi 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 IDBI Bank Ftcash Neogrowth 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	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 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 11.20% - 16.30%	15.00% - 24.00%
Processing Fees	Processing Fees From 2% to 3%	2% of the loan amount
Loan Amount	Loan Amount ₹ 5 Lakh to ₹ 100 Cr	₹ 0 to ₹ 5 Lakh
Loan Tenure	Loan Tenure 12 to 48 Months	36 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,594	₹ 3,467
Part Payment Charges	Part Payment Charges Allowed after 0 months at 3%	Allowed after 0 months at Nil charges
Foreclosure Charges	Foreclosure Charges Allowed after 6 months at 3%	Allowed after 0 months at 4% charges
Eligible Age	Eligible Age 21 to 65 Years	23 to 65 Years
Minimum Years in Business Required	Minimum Years in Business Required 36 Months	NA
Minimum Turnover Required	Minimum Turnover Required ₹ 20 Lakh	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 3.3/5.0	5/5.0

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Compare Business Loan EMI of SBI and Indifi

Loan Amount	SBI	Indifi
₹ 1 Lakh	₹ 2,594	₹ 3,467
₹ 5 Lakh	₹ 12,971	₹ 17,333
₹ 10 Lakh	₹ 25,943	₹ 34,665
₹ 15 Lakh	₹ 38,914	₹ 51,998

Which is a better bank for Business Loan – SBI or Indifi?

SBI offers lower Business Loan EMI at Rs. 2594 for 48 Months compared to Indifi with a minimum EMI of Rs. 3467 for 36 Months. In addition, average customer ratings for SBI is currently at 3.3/5.0, making it a good choice for taking a Business Loan.

How does SBI Business Loan compare with Indifi Business Loan?

A detailed comparison of SBI and Indifi 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 SBI Loan is 11.20%, which is lower than the lowest interest rate of Indifi at 15.00%. Hence, SBI is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, SBI charges a processing fee of From 2% to 3%, while Indifi charges a processing fee of Upto 2% of the loan amount.
SBI offers Business Loan upto an amount of ₹ 100 Cr, while Indifi offers Loan upto an amount of ₹ 5 Lakh. Therefore, SBI 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. Indifi gives the option to close the loan after Zero months at 4% charges and SBI gives the option to close the loan after 6 months at 3%. This makes Indifi a better option for Business Loan.
Indifi and SBI allow part payment on Business Loan after Zero months at Nil charges. Indifi applies a charge of Nil charges and SBI charges 3% on Business Loan.
Indifi gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from SBI is ₹ 20 Lakh. Hence, small businesses may find is easier to get a loan from Indifi.
SBI can be a better option if you are looking for fund requirements after 36 months. Indifi offers a business loan once if business is NA months old. Hence, SBI should be a preferred choice for relatively new enterprises.
Indifi has an average customer rating of 5. In contrast, SBI has an average customer rating of 3.3, based on which it is clear that Indifi has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Business Loan – SBI or Indifi?

As per the current rates, SBI offers a lower interest rate of 11.20% on loans compared to Indifi, which offers a Business Loan at 15.00%.

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Business Loan News - Aug 2022

2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
2022-05-03 : HDFC Profit Rises by 16% for Q4 of FY 2022
Housing Development Finance Corporation has reported a 16% year-on-year rise in its standalone net profit for the March quarter to Rs 3,700 crore on the back of strong growth in loans and net interest income (NII).
2022-04-29 : Axis Bank Net Profit Jumps to Rs 4,118 crore in March Quarter
The bank has reported a 54 percent jump in its standalone net profit to Rs 4,117.77 crore from a net profit of Rs 2,677.06 crore in the year-ago period for the quarter ended March 2022.
2022-04-29 : ICICI Bank Launches Digital Ecosystem for MSMEs
The new digital ecosystem comprises three pillars, including enhanced banking services for existing customers, MSMEs who are customers of other banks, and other value-added services for all.
2022-04-28 : Union Bank Rolls out Automated Solution for Recovery of Bad Loans
Union Bank of India will be using a first-of-its-kind stressed asset recovery automated solution (SARAS) to help the bank enforce securities, track recoveries, and enhance monitoring of stressed assets.

*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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