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Compare United Bank of India vs Corporation Bank Business Loan

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Bank
Interest Rate
Interest Rate
13.00% - 13.00%
13.55% - 14.55%
Processing Fees
Processing Fees
1.15%
1.5%, Min Rs. 500
Loan Amount
Loan Amount
₹ 5 Lakh to ₹ 15 Lakh
₹ 2 Lakh to ₹ 5 Cr
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 84 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,275
₹ 1,849
Part Payment Charges
Part Payment Charges
Allowed after 0 months at 2% of Outstanding Balance
Allowed after 0 months at Nil prepayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at 2% of Outstanding Balance
Allowed after 0 months at Nil prepayment charges
Eligible Age
Eligible Age
25 to 65 Years
21 to 58 Years
Minimum Years in Business Required
Minimum Years in Business Required
24 Months
12 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 50 Lakh
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Business Loan EMI of United Bank of India and Corporation Bank

Loan Amount United Bank of India Corporation Bank
₹ 1 Lakh ₹ 2,275 ₹ 1,849
₹ 5 Lakh ₹ 11,377 ₹ 9,246
₹ 10 Lakh ₹ 22,753 ₹ 18,492
₹ 15 Lakh ₹ 34,130 ₹ 27,738

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

Corporation Bank offers lower Business Loan EMI at Rs. 1849 for 84 Months compared to United Bank of India with a minimum EMI of Rs. 2275 for 60 Months. In addition, average customer ratings for Corporation Bank is currently at /5.0, making it a good choice for taking a Business Loan.

How does United Bank of India Business Loan compare with Corporation Bank Business Loan?

A detailed comparison of United Bank of India and Corporation Bank 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 Corporation Bank at 13.55%. Hence, United Bank of India is offering a cheaper loan option.
  • Compared to other Business Loan charges such as processing fees, United Bank of India charges a processing fee of 1.15%, while Corporation Bank charges a processing fee of Upto 1.5%, Min Rs. 500.
  • Corporation Bank offers Business Loan upto an amount of ₹ 5 Cr, while United Bank of India offers Loan upto an amount of ₹ 15 Lakh. Therefore, Corporation Bank 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. Corporation Bank and United Bank of India gives the option to close the loan after Zero months at Nil prepayment charges and 2% of Outstanding Balance. This makes Corporation Bank a better option for Business Loan.
  • Corporation Bank and United Bank of India allow part payment on Business Loan after Zero months at Nil charges. Corporation Bank applies a charge of Nil charges and United Bank of India charges 2% of Outstanding Balance on Business Loan.
  • Corporation Bank gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from United Bank of India is ₹ 50 Lakh. Hence, small businesses may find is easier to get a loan from Corporation Bank.
  • Corporation Bank can be a better option if you are looking for fund requirements after 12 months. United Bank of India offers a business loan once if business is 24 months old. Hence, Corporation Bank should be a preferred choice for relatively new enterprises.
  • with an average customer rating of is equally comparable to with an average customer rating of . 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 Corporation Bank?

As per the current rates, United Bank of India offers a lower interest rate of 13.00% on loans compared to Corporation Bank, which offers a Business Loan at 13.55%.

Know all about Business Loan

Know more about United Bank of India Business Loan

Know more about Corporation Bank Business Loan

Compare United Bank of India Business Loan With Other Banks

Compare Corporation Bank 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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