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Compare Business Loan - Tata Capital vs SBI

Bank
Parameters
Interest Rate
Interest Rate
21.00% - 23.00%
11.20% - 16.30%
Processing Fees
Processing Fees
From 1.50% to 2.50%
From 2% to 3%
Loan Amount
Loan Amount
₹ 5 Lakh to ₹ 50 Lakh
₹ 5 Lakh to ₹ 100 Cr
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,097
₹ 2,594
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 0 months at 3%
Foreclosure Charges
Foreclosure Charges
Allowed after 6 months at 4.5% of outstanding balance
Allowed after 6 months at 3%
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
₹ 20 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
5/5.0
3.3/5.0
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Compare EMI of Tata Capital and SBI Business Loan

Loan Amount Tata Capital SBI
₹ 1 Lakh ₹ 7,128 ₹ 11,252
₹ 5 Lakh ₹ 35,640 ₹ 56,260
₹ 10 Lakh ₹ 71,280 ₹ 1,12,519
₹ 15 Lakh ₹ 1,06,920 ₹ 1,68,779

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

SBI offers lower Business Loan EMI at 2594 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 SBI is currently at 3.3/5.0 which makes it a good choice for taking a Business Loan.

How does SBI Business Loan compare with Tata Capital Business Loan?

A detailed comparison of SBI 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 SBI Business Loan is 11.20%, which is lower than the lowest interest rate of Tata Capital at 21.00%. Hence, SBI 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 SBI charges a processing fees of From 2% to 3%.
  • SBI offers Business Loan upto an amount of ₹ 100 Cr while Tata Capital offer Business Loan upto an amount of ₹ 50 Lakh. 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 foreclosure facility. SBI and Tata Capital gives the option to close the loan after 6 months at 3% and 4.5% of outstanding balance. This makes SBI a better option for Business Loan.
  • SBI allows part payment on Business Loan after Zero months at 3%, while Tata Capital does not offer part payment facility on Business Loan. This makes SBI a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • SBI gives business loan at a minimum turnover of ₹ 20 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 SBI.
  • SBI 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, SBI should be a preferred choice for relatively new enterprises.
  • Tata Capital has an average customer ratings of 5, while SBI has an average customer rating of 3.3, 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 – SBI or Tata Capital?

As per the current rates, SBI offers a lower interest rate of 11.20% 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 SBI?

You can transfer your Business Loan from Tata Capital to SBI 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, SBI offers the cheapest Business Loan at 11.20%.

How do I check my eligibility for Tata Capital and SBI Business Loan?

You can check your eligibility for Tata Capital and SBI 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 SBI Business Loan

Compare Tata Capital Business Loan With Other Banks

Compare SBI Business Loan With Other Banks

Know About MSMEs and Mudra Loan

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Business Loan News - Jan 2021
  • 2021-01-27 : Kotak Mahindra Bank Q3 net profit up 16%
    Kotak Mahindra Bank posted a net profit of Rs 1,853.5 crore as against Rs 1,595.90 crore last year. The bank reported a growth of 16% on a year-on-year basis backed by home, personal, car, two wheeler and gold loan along with business and mudra loans.
  • 2021-01-27 : DCB Bank reported Q3 profit at ₹96.21 crore
    DCB Bank posted a net profit of ₹96.21 crore for the third quarter ended December 2020. Further, it reported a total income of ₹1,023.86 crore backed by home, personal, car, two wheeler and gold loan along with business and mudra loans.
  • 2021-01-27 : Sundaram Home Finance Q3 net rose by 36%
    Sundaram Home Finance posted a 36% growth in its net profit for Q3 to Rs 56.24cror. Disbursements for Q3 stood at Rs 4,16.57 crore backed by home, personal, car, two wheeler and gold loans along with business and mudra loans.
  • 2021-01-25 : Indian Bank posted Q3FY21 net profit at Rs. 526.31 crore
    Indian Bank reported a total income of Rs.11571.33 crores backed by home, personal,education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted net profit of Rs.526.31 crores for the period ended December 31, 2020 as against net profit of Rs.424.14 crores for the period ended September 30, 2020.
  • 2021-01-25 : South India Bank reported 3FY21 loss at Rs. 91.62 crore
    South Indian Bank reported a total income of Rs.2082.08 crores backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted a net loss of Rs.91.6 crores for the period ended December 31, 2020.
*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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