Building your comparison…
Side-by-side view of the loans you selected. Best values in each row are highlighted in emerald.
Building your comparison…
| Attribute | ||
|---|---|---|
Loan type | Business Loan | Business Loan |
Lender type | Bank | NBFC |
Interest rate | ★ 8.00% – 12.50% | 14.00% – 23.00% |
Rate type | Floating | Floating |
Processing fee | ★ 1%, min ₹1,000, max ₹50,000 | 3.5%, min ₹80, max ₹2,00,000 |
Prepayment penalty | NIL | NIL |
Late payment fee | 2% per month on overdue principal | 2-3% of EMI + applicable taxes |
EMI per ₹1 lakh (at min rate) | ★ ₹2,441 | ₹2,733 |
Total cost ★ Interest + processing on a standard scenario | ★ ₹1,81,820on ₹10 L / 4y | ₹3,46,671on ₹10 L / 4y |
Max loan amount | ★ ₹50 L | ₹1.5K |
Tenure | ★ 1 yr – 7 yr | 1 yr |
Age range | 21–65 yrs | 21–65 yrs |
Min income / year Self-employed | ₹3,00,000 | ★ ₹2,50,000 |
Min CIBIL score | 700 | ★ 685 |
Employment types | Self employed, Professional | Self employed, Professional |
Disbursal time | 7-15 business days | 48-72 hours |
Highlights |
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