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Compare United Bank of India vs IndusInd Bank Business Loan

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Bank
Interest Rate
Interest Rate
13.00% - 13.00%
13.00% - 29.00%
Processing Fees
Processing Fees
1.15%
2.50%
Loan Amount
Loan Amount
₹ 5 Lakh to ₹ 15 Lakh
₹ 50,000 to ₹ 15 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,275
₹ 2,275
Part Payment Charges
Part Payment Charges
Allowed after 0 months at 2% of Outstanding Balance
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at 2% of Outstanding Balance
Allowed after 12 months at 4%
Eligible Age
Eligible Age
25 to 65 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
24 Months
24 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 IndusInd Bank

Loan Amount United Bank of India IndusInd Bank
₹ 1 Lakh ₹ 2,275 ₹ 2,275
₹ 5 Lakh ₹ 11,377 ₹ 11,377
₹ 10 Lakh ₹ 22,753 ₹ 22,753
₹ 15 Lakh ₹ 34,130 ₹ 34,130

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

IndusInd Bank and United Bank of India offer Business Loan at the same rate of interest starting from 13.00%. Lowest EMI of IndusInd Bank is Rs. 2275 for a maximum tenure of 60 Months. Lowest EMI of United Bank of India is Rs. 2275 for a maximum tenure of 60 Months.

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

A detailed comparison of IndusInd Bank and United Bank of India 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 IndusInd Bank and United Bank of India Loan is 13.00%. Hence, both banks are at par in terms of interest rate on Business Loan
  • Compared to other Business Loan charges such as processing fees, United Bank of India charges a processing fee of 1.15%, while IndusInd Bank charges a processing fee of Upto 2.50%.
  • 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 IndusInd Bank gives the option to close the loan after 12 months at 4%. 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 IndusInd Bank 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.
  • IndusInd 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 IndusInd Bank.
  • IndusInd Bank and United Bank of India offer a business loan if your business has completed 24 months. Hence, IndusInd Bank and United Bank of India both can 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 – IndusInd Bank or United Bank of India?

The lowest interest rate for both IndusInd Bank and United Bank of India on loans currently starts from 13.00%. Hence, both banks are a good choice for potential borrowers.

Know all about Business Loan

Know more about United Bank of India Business Loan

Know more about IndusInd Bank Business Loan

Compare United Bank of India Business Loan With Other Banks

Compare IndusInd Bank Business Loan With Other Banks

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  • 2022-04-29 : ICICI Bank Launches Digital Ecosystem for MSMEs
    The new digital ecosystem comprises three pillars, including enhanced banking services for existing customers, MSMEs who are customers of other banks, and other value-added services for all.
  • 2022-04-28 : Union Bank Rolls out Automated Solution for Recovery of Bad Loans
    Union Bank of India will be using a first-of-its-kind stressed asset recovery automated solution (SARAS) to help the bank enforce securities, track recoveries, and enhance monitoring of stressed assets.
*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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