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Compare Business Loan - Yes Bank vs IndusInd Bank

Bank
Parameters
Interest Rate
Interest Rate
16.25% - 19.99%
14.00% - 23.00%
Processing Fees
Processing Fees
Up to 2%
2.50%
Loan Amount
Loan Amount
₹ 5 Lakh to ₹ 50 Lakh
₹ 50,000 to ₹ 15 Lakh
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,528
₹ 2,327
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 12 months at 4%
Borrower’s Age
Borrower’s Age
25 to 65 Years
25 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
36 Months
24 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 1 Cr
₹ 0
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
5/5.0
5/5.0
Add Bank

Compare EMI of Yes Bank and IndusInd Bank Business Loan

Loan Amount Yes Bank IndusInd Bank
₹ 1 Lakh ₹ 7,865 ₹ 10,102
₹ 5 Lakh ₹ 39,327 ₹ 50,512
₹ 10 Lakh ₹ 78,653 ₹ 1,01,024
₹ 15 Lakh ₹ 1,17,980 ₹ 1,51,536

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

IndusInd Bank offers lower Business Loan EMI at 2327 on a Business Loan for 60 Months as compared to Yes Bank with a minimum EMI of 3528 for 36 Months. Average customer ratings for IndusInd Bank is currently at 5/5.0 which makes it a good choice for taking a Business Loan.

How does IndusInd Bank Business Loan compare with Yes Bank Business Loan?

A detailed comparison of IndusInd Bank 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 IndusInd Bank Business Loan is 14.00%, which is lower than the lowest interest rate of Yes Bank at 16.25%. Hence, IndusInd Bank is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, Yes Bank charges a processing fees of Up to 2% while IndusInd Bank charges a processing fees of 2.50%.
  • Yes Bank offers Business Loan upto an amount of ₹ 50 Lakh while IndusInd Bank offer Business Loan upto an amount of ₹ 15 Lakh. 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 foreclosure facility. IndusInd Bank and Yes Bank gives the option to close the loan after 12 months at 4% and Up to 4%. This makes IndusInd Bank a better option for Business Loan.
  • Yes Bank allows part payment on Business Loan after 12 months at 2% charges, while IndusInd Bank does not offer part payment facility on Business Loan. 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.
  • IndusInd Bank 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 IndusInd Bank.
  • IndusInd Bank can be a better option if you are looking for fund requirements after 24 months. Yes Bank offers a business loan once if business is 36 months old. Hence, IndusInd Bank should be a preferred choice for relatively new enterprises.
  • IndusInd Bank with an average customer ratings 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 lower interest rate on Business Loan – IndusInd Bank or Yes Bank?

As per the current rates, IndusInd Bank offers a lower interest rate of 14.00% on Business Loan when compared to Yes Bank which offers a Business Loan at 16.25%.

How can I transfer my Business Loan from Yes Bank to IndusInd Bank?

You can transfer your Business Loan from Yes Bank to IndusInd Bank with a Business Loan balance transfer. For this, you need to follow a specific procedure that involves clearing off dues, getting a NOC, application to a new bank, getting approval, etc. The Business Loan balance transfer is an excellent way to reduce the loan burden as you can switch to a lower Business Loan interest rate.

How can I choose the best bank for Business Loan?

You can choose the best bank for a Business Loan by making a detailed comparison between top lenders on the basis of interest rates, processing fee or Business Loan offers. Apart from that, you can visit online marketplaces like MyLoanCare to choose the best Business Loan offer. Here, you will get the option of choosing the best bank amongst the shortlisted ones based on your loan requirement.

Which type of Business Loan is the cheapest?

The cheapest Business Loan is the one that is offered at the lowest Business Loan interest rates. This is because the lowest Business Loan interest rates mean the lowest EMI, as the interest charged will be less. Thus, these loans can be attained with the least repayment burden. Currently, IndusInd Bank offers the cheapest Business Loan at 14.00%.

How do I check my eligibility for Yes Bank and IndusInd Bank Business Loan?

You can check your eligibility for Yes Bank and IndusInd Bank Business Loan by using MyLoanCare Business Loan eligibility calculator. You have to enter details like required loan amount, profession, annual profit, work experience etc to check the amount of loan you are eligible for. You can apply loan for the eligible amount to repay the EMI you can comfortably service.

Know all about Business Loan

Know more about Yes Bank Business Loan

Know more about IndusInd Bank Business Loan

Compare Yes Bank Business Loan With Other Banks

Compare IndusInd Bank Business Loan With Other Banks

Know About MSMEs and Mudra Loan

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Business Loan News - Jan 2021
  • 2021-01-25 : Indian Bank posted Q3FY21 net profit at Rs. 526.31 crore
    Indian Bank reported a total income of Rs.11571.33 crores backed by home, personal,education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted net profit of Rs.526.31 crores for the period ended December 31, 2020 as against net profit of Rs.424.14 crores for the period ended September 30, 2020.
  • 2021-01-25 : South India Bank reported 3FY21 loss at Rs. 91.62 crore
    South Indian Bank reported a total income of Rs.2082.08 crores backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted a net loss of Rs.91.6 crores for the period ended December 31, 2020.
  • 2021-01-25 : Bajaj Finserv Q3 results net profit rises 15% to Rs 1,290 crore
    Bajaj Finserv posted a 15% year-on-year rise in its net profit to Rs 1,290 crore in the quarter ended December, backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans Further, the bank’s revenues climbed 10% year-on-year to Rs 15,960.7 crore.
  • 2021-01-19 : Bank of Maharashtra reported Q3 profit up of ₹154 crore
    Bank of Maharashtra reported a net profit of Rs. ₹154 crores in the third quarter ended December 31, 2020, against ₹135 crores in the year-ago quarter. Advances that include home, personal, car, two-wheeler and gold loan along with business and mudra loans increased by 12 per cent year-on-year to ₹1,04,904 crore. Further, deposits which include FD and Rds increased by 14% to ₹1,61,971 crore. The share of the low-cost current account, savings account (CASA) deposits improved to 50.91% of total deposits from 50.51% in the preceding quarter.
  • 2021-01-18 : Karnataka Bank Q3 net profit rises to ₹135 cr
    Karnataka Bank posted a net profit of Rs 135 crore for the December quarter of current financial year with a growth rate of 10%. Further, net interest income rose 21% to ₹614 crore from ₹508 crore in Q3FY20.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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