Compare Business Loan - Tata Capital vs HDFC
| 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
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% |
15.65% - 21.35% |
| Processing Fees | Processing Fees From 1.50% to 2.50% |
Starting from 0.99%, Max 2.50% |
| Loan Amount | Loan Amount ₹ 5 Lakh to ₹ 50 Lakh |
₹ 50,000 to ₹ 50 Lakh |
| Loan Tenure | Loan Tenure 12 to 48 Months |
12 to 48 Months |
| Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 3,097 |
₹ 2,816 |
| Part Payment Charges | Part Payment Charges Not Allowed |
Not Allowed |
| Foreclosure Charges | Foreclosure Charges Allowed after 6 months at 4.5% of outstanding balance |
Allowed after 12 months at 2 - 4% |
| Borrower’s Age | Borrower’s Age 25 to 65 Years |
21 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 |
₹ 1 Cr |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) 5/5.0 |
4.5/5.0 |
Compare EMI of Tata Capital and HDFC Business Loan
| Loan Amount | Tata Capital | HDFC Bank |
|---|---|---|
| ₹ 1 Lakh | ₹ 7,128 | ₹ 8,720 |
| ₹ 5 Lakh | ₹ 35,640 | ₹ 43,600 |
| ₹ 10 Lakh | ₹ 71,280 | ₹ 87,201 |
| ₹ 15 Lakh | ₹ 1,06,920 | ₹ 1,30,801 |
Which is a better bank for Business Loan – HDFC Bank or Tata Capital?
HDFC Bank offers lower Business Loan EMI at 2816 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 HDFC Bank is currently at 4.5/5.0 which makes it a good choice for taking a Business Loan.
How does HDFC Bank Business Loan compare with Tata Capital Business Loan?
A detailed comparison of HDFC 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 HDFC Bank Business Loan is 15.65%, which is lower than the lowest interest rate of Tata Capital at 21.00%. Hence, HDFC Bank 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 HDFC Bank charges a processing fees of Starting from 0.99%, Max 2.50%.
- 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 HDFC Bank gives the option to close the loan after 12 months at 2 - 4%. This makes Tata Capital a better option for Business Loan.
- HDFC 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, HDFC Bank should be a preferred choice for relatively new enterprises.
- Tata Capital has an average customer ratings of 5, while HDFC Bank has an average customer rating of 4.5, 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 – HDFC Bank or Tata Capital?
As per the current rates, HDFC Bank offers a lower interest rate of 15.65% on Business Loan when compared to Tata Capital which offers a Business Loan at 21.00%.
How can I transfer my Business Loan from Tata Capital to HDFC Bank?
You can transfer your Business Loan from Tata Capital to HDFC Bank 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, HDFC Bank offers the cheapest Business Loan at 15.65%.
How do I check my eligibility for Tata Capital and HDFC Bank Business Loan?
You can check your eligibility for Tata Capital and HDFC Bank 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 Tata Capital Business Loan
Know more about HDFC Bank Business Loan
Compare Tata Capital Business Loan With Other Banks
Compare HDFC Bank Business Loan With Other Banks
Know About MSMEs and Mudra Loan
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