Compare United Bank of India vs Corporation Bank Business Loan

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Bank	SBI 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 Syndicate Bank Bank of Baroda	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Lendingkart Bajaj Finserv IDFC First Bank IIFL Bank of Maharashtra IndusInd Bank Kotak Bank Fullerton India IDBI Bank Ftcash Indifi Neogrowth Allahabad Bank Yes Bank PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank Corporation Bank Syndicate Bank Bank of Baroda
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%.

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Business Loan News - Oct 2021

2021-10-18 : HDFC Bank Posts 17.2 Percent Profits In Q2
Private sector bank, HDFC Bank has posted a 17.6 percent rise in net profit at Rs 8,834.3 crore in the second quarter ended September 30, 2021. The lender had posted a net profit of Rs 7,513.1 crore in Q2 of 2020.
2021-10-11 : IIFL Finance Launches Instant Business Loan
IIFL Finance has launched instant business loans on WhatsApp to avail of loan amount upto Rs. 10 Lakhs with benefits such as minimum documentation and quick approval.
2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
2021-10-05 : HDFC Bank Reports Growth in Advances in Q2
HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
2021-10-04 : Yes Bank Posts Growth in Loans and Deposits
Yes Bank has posted growth of 3.6% (year-on-year) in advances at Rs 1,72,945 crore for the quarter ended September 2021 (Q2FY22). Its advances stood at Rs 1,66,923 crore at end of September 2020 (Q2FY21).

*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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