Compare Business Loan - Tata Capital vs Bajaj Finserv

Bank	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Lendingkart 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 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
Parameters
Interest Rate	Interest Rate 21.00% - 23.00%	18.00% - 22.00%
Processing Fees	Processing Fees From 1.50% to 2.50%	Upto 2% of loan amount
Loan Amount	Loan Amount ₹ 5 Lakh to ₹ 50 Lakh	₹ 5 Lakh to ₹ 30 Lakh
Loan Tenure	Loan Tenure 12 to 48 Months	12 to 48 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,097	₹ 2,937
Part Payment Charges	Part Payment Charges Not Allowed	Allowed after 1 month at 2%
Foreclosure Charges	Foreclosure Charges Allowed after 6 months at 4.5% of outstanding balance	Allowed after 1 month at 4%
Borrower’s Age	Borrower’s Age 25 to 65 Years	25 to 65 Years
Minimum Years in Business Required	Minimum Years in Business Required 60 Months	36 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 1 Cr	₹ 12 Lakh
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 5/5.0	4/5.0

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Compare EMI of Tata Capital and Bajaj Finserv Business Loan

Loan Amount	Tata Capital	Bajaj Finserv
₹ 1 Lakh	₹ 3,097	₹ 2,938
₹ 5 Lakh	₹ 15,483	₹ 14,688
₹ 10 Lakh	₹ 30,966	₹ 29,375
₹ 15 Lakh	₹ 46,449	₹ 44,062

Which is a better bank for Business Loan – Bajaj Finserv or Tata Capital?

Bajaj Finserv offers lower Business Loan EMI at 2937 on a Business Loan for 48 Months as compared to Tata Capital with a minimum EMI of 3097 for 48 Months. Average customer ratings for Bajaj Finserv is currently at 4/5.0 which makes it a good choice for taking a Business Loan.

How does Bajaj Finserv Business Loan compare with Tata Capital Business Loan?

A detailed comparison of Bajaj Finserv 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 Bajaj Finserv Business Loan is 18.00%, which is lower than the lowest interest rate of Tata Capital at 21.00%. Hence, Bajaj Finserv is offering a cheaper loan option.
When compared on other Business Loan charges such as processing fees, Tata Capital charges a processing fees of From 1.50% to 2.50% while Bajaj Finserv charges a processing fees of Upto 2% of loan amount.
Tata Capital offers Business Loan upto an amount of ₹ 50 Lakh while Bajaj Finserv offer Business Loan upto an amount of ₹ 30 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. Bajaj Finserv gives the option to close the loan after 1 months at 4% and Tata Capital gives the option to close the loan after 6 months at 4.5% of outstanding balance. This makes Bajaj Finserv a better option for Business Loan.
Bajaj Finserv allows part payment on Business Loan after 1 months at 2%, while Tata Capital does not offer part payment facility on Business Loan. This makes Bajaj Finserv a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
Bajaj Finserv gives business loan at a minimum turnover of ₹ 12 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 Bajaj Finserv.
Bajaj Finserv 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, Bajaj Finserv should be a preferred choice for relatively new enterprises.
Tata Capital has an average customer ratings of 5, while Bajaj Finserv has an average customer rating of 4, 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 – Bajaj Finserv or Tata Capital?

As per the current rates, Bajaj Finserv offers a lower interest rate of 18.00% on Business Loan when compared to Tata Capital which offers a Business Loan at 21.00%.

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Business Loan News - Apr 2021

2021-04-13 : Bandhan Bank’s collection efficiency ratio at 96% in Q4
Bandhan Bank reported an overall collection efficiency of 96% for the quarter ending March 2021. Total advances which include retail loans like home, personal, business, car, two-wheeler education and doctor loan along with business and mudra loans grew by 21% at ₹87,054 crores. Deposits which includes fixed and recurring deposits grew by 37% at ₹77,972 crores. Further, CASA deposits increased by 61 per cent at ₹33,827 crores.
2021-04-12 : Rs. 15 lakh crores sanctioned under the Mudra Yojna in last 6 years
The finance ministry reported that banks and financial institutions have sanctioned Rs. 15 lakh crores to over 28.68 crores beneficiaries in the last 6 years. Prime Minister Mudra Yojna or PMMY was launched in April 2015 with an aim to promote entrepreneurship.
2021-04-07 : IIFL Home Finance signs co-lending agreement with Standard Chartered Bank
IIFL Home Finance and Standard Chartered Bank have entered into a co-lending arrangement for extending credit. Under this agreement, IIFL Home Finance and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.
2021-04-05 : Yes Bank Jan-March deposits up 54% to 162, 947
Yes Bank reported that the bank’s loan and advances which include home, personal, LAP, gold, two-wheeler, car and doctor loans along with business and mudra loans increased by 0.8% in year-on-year (YoY) terms to Rs. 172,850 crores. In addition to this, the bank deposit which includes fixed and recurring deposits grew 54.7% to Rs. 162,947 crores as compared to ₹105,364 crores on a yearly basis. The CASA(current and savings account) was up 51.8% to Rs. 42,587 crores against Rs. 28,063 crores YoY.
2021-04-05 : Karnataka Bank targeting 1.42 lakh business turnover in FY 22
Karnataka Bank is looking for 12% business growth in the current fiscal and targeting 1.42 lakh business turnover. The bank emphasised that it is planning to leverage digital banking to achieve its target.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More

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