Compare Business Loan - Tata Capital vs SBI

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Bank	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 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 19.00% - 0.00%	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 ₹ 2,990	₹ 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%
Eligible Age	Eligible 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	₹ 2,990	₹ 2,594
₹ 5 Lakh	₹ 14,950	₹ 12,971
₹ 10 Lakh	₹ 29,900	₹ 25,943
₹ 15 Lakh	₹ 44,850	₹ 38,914

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 2990 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 19.00%. 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 19.00%.

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Business Loan News - Jul 2021

2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
2021-07-15 : OBC & UBI merged with PNB
After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.

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

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