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Compare Tata Capital vs United Bank of India Business Loan

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Bank
Interest Rate
Interest Rate
19.00% - 0.00%
13.00% - 13.00%
Processing Fees
Processing Fees
From 1.50% to 2.50%
1.15%
Loan Amount
Loan Amount
₹ 5 Lakh to ₹ 50 Lakh
₹ 5 Lakh to ₹ 15 Lakh
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,990
₹ 2,275
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 0 months at 2% of Outstanding Balance
Foreclosure Charges
Foreclosure Charges
Allowed after 6 months at 4.5% of outstanding balance
Allowed after 0 months at 2% of Outstanding Balance
Eligible Age
Eligible Age
25 to 65 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
60 Months
24 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 1 Cr
₹ 50 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
5/5.0
5/5.0
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Compare Business Loan EMI of Tata Capital and United Bank of India

Loan Amount Tata Capital United Bank of India
₹ 1 Lakh ₹ 2,990 ₹ 2,275
₹ 5 Lakh ₹ 14,950 ₹ 11,377
₹ 10 Lakh ₹ 29,900 ₹ 22,753
₹ 15 Lakh ₹ 44,850 ₹ 34,130

Which is a better bank for Business Loan – United Bank of India or Tata Capital?

United Bank of India offers lower Business Loan EMI at Rs. 2275 for 60 Months compared to Tata Capital with a minimum EMI of Rs. 2990 for 48 Months. In addition, average customer ratings for United Bank of India is currently at 5/5.0, making it a good choice for taking a Business Loan.

How does United Bank of India Business Loan compare with Tata Capital Business Loan?

A detailed comparison of United Bank of India 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 United Bank of India Loan is 13.00%, which is lower than the lowest interest rate of Tata Capital at 19.00%. Hence, United Bank of India is offering a cheaper loan option.
  • Compared to other Business Loan charges such as processing fees, Tata Capital charges a processing fee of From 1.50% to 2.50%, while United Bank of India charges a processing fee of Upto 1.15%.
  • Tata Capital offers Business Loan upto an amount of ₹ 50 Lakh, while United Bank of India offers Loan upto an amount of ₹ 15 Lakh. Therefore, 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 the foreclosure facility. United Bank of India gives the option to close the loan after Zero months at 2% of Outstanding Balance and Tata Capital gives the option to close the loan after 6 months at 4.5% of outstanding balance. This makes United Bank of India a better option for Business Loan.
  • United Bank of India allows part payment on Business Loan after Zero months at 2% of Outstanding Balance, while Tata Capital does not offer a part payment facility. This makes United Bank of India a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
  • United Bank of India gives business loan at a minimum turnover of ₹ 50 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 United Bank of India.
  • United Bank of India can be a better option if you are looking for fund requirements after 24 months. Tata Capital offers a business loan once if business is 60 months old. Hence, United Bank of India should be a preferred choice for relatively new enterprises.
  • Tata Capital with an average customer rating of 5 is equally comparable to United Bank of India with an average customer rating of 5. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Business Loan – United Bank of India or Tata Capital?

As per the current rates, United Bank of India offers a lower interest rate of 13.00% on loans compared to Tata Capital, which offers a Business Loan at 19.00%.

Know all about Business Loan

Know more about Tata Capital Business Loan

Know more about United Bank of India Business Loan

Compare Tata Capital Business Loan With Other Banks

Compare United Bank of India Business Loan With Other Banks

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*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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