Compare Syndicate Bank vs HDFC Bank Business Loan

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Bank	SBI 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	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 Allahabad Bank Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Bank of Baroda
Interest Rate	Interest Rate 12.65% - 13.65%	11.90% - 21.35%
Processing Fees	Processing Fees 0.5%, Min Rs. 500	₹ 499
Loan Amount	Loan Amount ₹ 50,000 to ₹ 5 Lakh	₹ 50,000 to ₹ 50 Lakh
Loan Tenure	Loan Tenure 12 to 60 Months	12 to 48 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,257	₹ 2,628
Part Payment Charges	Part Payment Charges Allowed after 0 months at Nil prepayment charges	Not Allowed
Foreclosure Charges	Foreclosure Charges Allowed after 0 months at Nil prepayment charges	Allowed after 12 months at 2 - 4%
Eligible Age	Eligible Age 21 to 58 Years	21 to 65 Years
Minimum Years in Business Required	Minimum Years in Business Required NA	36 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 0	₹ 1 Cr
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	4.5/5.0

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Compare Business Loan EMI of Syndicate Bank and HDFC Bank

Loan Amount	Syndicate Bank	HDFC Bank
₹ 1 Lakh	₹ 2,257	₹ 2,628
₹ 5 Lakh	₹ 11,287	₹ 13,142
₹ 10 Lakh	₹ 22,574	₹ 26,285
₹ 15 Lakh	₹ 33,861	₹ 39,427

Which is a better bank for Business Loan – HDFC Bank or Syndicate Bank?

Syndicate Bank offers lower Business Loan EMI at Rs. 2257 for 60 Months compared to HDFC Bank with a minimum EMI of Rs. 2628 for 48 Months. In addition, average customer ratings for Syndicate Bank is currently at /5.0, making it a good choice for taking a Business Loan.

How does HDFC Bank Business Loan compare with Syndicate Bank Business Loan?

A detailed comparison of HDFC Bank and Syndicate 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 HDFC Bank Loan is 11.90%, which is lower than the lowest interest rate of Syndicate Bank at 12.65%. Hence, HDFC Bank is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, Syndicate Bank charges a processing fee of 0.5%, Min Rs. 500, while HDFC Bank charges a processing fee of Upto ₹ 499.
HDFC Bank offers Business Loan upto an amount of ₹ 50 Lakh, while Syndicate Bank offers Loan upto an amount of ₹ 5 Lakh. Therefore, HDFC 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. Syndicate Bank gives the option to close the loan after Zero months at Nil prepayment charges and HDFC Bank gives the option to close the loan after 12 months at 2 - 4%. This makes Syndicate Bank a better option for Business Loan.
Syndicate Bank allows part payment on Business Loan after Zero months at Nil charges, while HDFC Bank does not offer a part payment facility. This makes Syndicate Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
Syndicate Bank gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from HDFC Bank is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from Syndicate Bank.
HDFC Bank can be a better option if you are looking for fund requirements after 36 months. Syndicate Bank offers a business loan once if business is NA months old. Hence, HDFC Bank should be a preferred choice for relatively new enterprises.
HDFC Bank has an average customer rating of 4.5. In contrast, has an average customer rating of , based on which it is clear that HDFC Bank has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Business Loan – HDFC Bank or Syndicate Bank?

As per the current rates, HDFC Bank offers a lower interest rate of 11.90% on loans compared to Syndicate Bank, which offers a Business Loan at 12.65%.

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