MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹1,000* on Business Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare Yes Bank vs IDFC First Bank Business Loan

Download Comparison
Bank
Interest Rate
Interest Rate
16.25% - 19.99%
19.00% - 0.00%
Processing Fees
Processing Fees
Up to 2%
2.00%
Loan Amount
Loan Amount
₹ 5 Lakh to ₹ 50 Lakh
₹ 1 Lakh to ₹ 9 Lakh
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,528
₹ 2,990
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 6 months at 4 - 5%
Eligible Age
Eligible Age
25 to 65 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
36 Months
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 1 Cr
₹ 12 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
5/5.0
5/5.0
Add Bank

Compare Business Loan EMI of Yes Bank and IDFC First Bank

Loan Amount Yes Bank IDFC First Bank
₹ 1 Lakh ₹ 3,528 ₹ 2,990
₹ 5 Lakh ₹ 17,640 ₹ 14,950
₹ 10 Lakh ₹ 35,281 ₹ 29,900
₹ 15 Lakh ₹ 52,921 ₹ 44,850

Which is a better bank for Business Loan – Yes Bank or IDFC First Bank?

IDFC First Bank offers lower Business Loan EMI at Rs. 2990 for 48 Months compared to Yes Bank with a minimum EMI of Rs. 3528 for 36 Months. In addition, average customer ratings for IDFC First Bank is currently at 5/5.0, making it a good choice for taking a Business Loan.

How does Yes Bank Business Loan compare with IDFC First Bank Business Loan?

A detailed comparison of Yes Bank and IDFC First 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 Yes Bank Loan is 16.25%, which is lower than the lowest interest rate of IDFC First Bank at 19.00%. Hence, Yes Bank 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 IDFC First Bank charges a processing fee of Upto 2.00%.
  • Yes Bank offers Business Loan upto an amount of ₹ 50 Lakh, while IDFC First Bank offers Loan upto an amount of ₹ 9 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. IDFC First Bank gives the option to close the loan after 6 months at 4 - 5% and Yes Bank gives the option to close the loan after 12 months at Up to 4%. This makes IDFC First Bank a better option for Business Loan.
  • Yes Bank allows part payment on Business Loan after 12 months at 2% charges, while IDFC First Bank 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.
  • IDFC First Bank gives business loan at a minimum turnover of ₹ 12 Lakh. 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 IDFC First Bank.
  • IDFC First Bank and Yes Bank offer a business loan if your business has completed 36 months. Hence, IDFC First Bank and Yes Bank both can be a preferred choice for relatively new enterprises.
  • IDFC First Bank 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 – Yes Bank or IDFC First Bank?

As per the current rates, Yes Bank offers a lower interest rate of 16.25% on loans compared to IDFC First Bank, which offers a Business Loan at 19.00%.

Know all about Business Loan

Know more about Yes Bank Business Loan

Know more about IDFC First Bank Business Loan

Compare Yes Bank Business Loan With Other Banks

Compare IDFC First Bank Business Loan With Other Banks

Know About MSMEs and Mudra Loan

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Business Loan News - Oct 2021
  • 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).
  • 2021-09-30 : Govt Extends Emergency Credit Scheme for Micro, Small and Medium Enterprises
    The government has extended the emergency credit scheme for MSMEs till 31st March 2022. The new deadline for disbursement of loans under this scheme is 30th June 2021.
*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
Loader
Please wait while your information is being processed...