Compare Business Loan - Tata Capital vs HDFC Bank

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

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Compare EMI of Tata Capital and HDFC Bank Business Loan

Loan Amount	Tata Capital	HDFC Bank
₹ 1 Lakh	₹ 3,097	₹ 2,816
₹ 5 Lakh	₹ 15,483	₹ 14,081
₹ 10 Lakh	₹ 30,966	₹ 28,161
₹ 15 Lakh	₹ 46,449	₹ 42,242

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%.

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Know About MSMEs and Mudra Loan

Business Loan News - Apr 2021

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.
2021-03-26 : Digital Banking likely to play a major role in the banking sector
RBI Governor emphasised that digital lending is going to play a major role in the coming years and the market will be more technology-dependent. Further, he suggested that banks need to adapt to new technologies and adapt to the changes and transformations which are happening in the world of digital lending to remain in sync with time.

*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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