Compare Yes Bank vs Bank of Baroda 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 Corporation Bank Syndicate 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 PNB OBC Indian Overseas Bank Dhan Laxmi Bank DCB Bank Andhra Bank United Bank of India Corporation Bank Syndicate Bank Bank of Baroda
Interest Rate	Interest Rate 16.25% - 19.99%	14.10% - 14.10%
Processing Fees	Processing Fees Up to 2%	Upto 1.00%
Loan Amount	Loan Amount ₹ 5 Lakh to ₹ 50 Lakh	₹ 1 Lakh to ₹ 2 Lakh
Loan Tenure	Loan Tenure 12 to 36 Months	12 to 36 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,528	₹ 3,423
Part Payment Charges	Part Payment Charges Allowed after 12 months at 2% charges	Not Allowed
Foreclosure Charges	Foreclosure Charges Allowed after 12 months at Up to 4%	Allowed after 1 month at Nil prepayment charges
Eligible Age	Eligible Age 25 to 65 Years	21 to 60 Years
Minimum Years in Business Required	Minimum Years in Business Required 36 Months	NA
Minimum Turnover Required	Minimum Turnover Required ₹ 1 Cr	₹ 0
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 5/5.0	5/5.0

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Compare Business Loan EMI of Yes Bank and Bank of Baroda

Loan Amount	Yes Bank	Bank of Baroda
₹ 1 Lakh	₹ 3,528	₹ 3,423
₹ 5 Lakh	₹ 17,640	₹ 17,113
₹ 10 Lakh	₹ 35,281	₹ 34,226
₹ 15 Lakh	₹ 52,921	₹ 51,339

Which is a better bank for Business Loan – Bank of Baroda or Yes Bank?

Bank of Baroda offers lower Business Loan EMI at Rs. 3423 for 36 Months compared to Yes Bank with a minimum EMI of Rs. 3528 for 36 Months. In addition, average customer ratings for Bank of Baroda is currently at 5/5.0, making it a good choice for taking a Business Loan.

How does Bank of Baroda Business Loan compare with Yes Bank Business Loan?

A detailed comparison of Bank of Baroda and Yes 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 Bank of Baroda Loan is 14.10%, which is lower than the lowest interest rate of Yes Bank at 16.25%. Hence, Bank of Baroda is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, Yes Bank charges a processing fee of Up to 2%, while Bank of Baroda charges a processing fee of Upto Upto 1.00%.
Yes Bank offers Business Loan upto an amount of ₹ 50 Lakh, while Bank of Baroda offers Loan upto an amount of ₹ 2 Lakh. Therefore, Yes 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. Bank of Baroda gives the option to close the loan after 1 months at Nil prepayment charges and Yes Bank gives the option to close the loan after 12 months at Up to 4%. This makes Bank of Baroda a better option for Business Loan.
Yes Bank allows part payment on Business Loan after 12 months at 2% charges, while Bank of Baroda does not offer a part payment facility. This makes Yes Bank a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
Bank of Baroda gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from Yes Bank is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from Bank of Baroda.
Yes Bank can be a better option if you are looking for fund requirements after 36 months. Bank of Baroda offers a business loan once if business is NA months old. Hence, Yes Bank should be a preferred choice for relatively new enterprises.
Bank of Baroda with an average customer rating of 5 is equally comparable to Yes Bank 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 – Bank of Baroda or Yes Bank?

As per the current rates, Bank of Baroda offers a lower interest rate of 14.10% on loans compared to Yes Bank, which offers a Business Loan at 16.25%.

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Business Loan News - May 2022

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