| PREST LOANS | PSU Banks | Private Banks | Traditinal NBFCs | Money Lender | |
|---|---|---|---|---|---|
| Apply from Anywhere | YES | NO | NO | NO | NO |
| Apply Any time (24*7*365 basis) | YES | NO | NO | NO | NO |
| Time taken in Sanction/ Approval | Few Minutes | Few Weeks | Few Days | Few Days | Few Minutes |
| Time taken in providing funds | < 2 days | 4-6 weeks | 1-2 weeks | 1 week | < 7 days |
| Technology savy | YES | Not Much | Partially | Partially | NO |
| Collateral Needed | Flexible | Mostly Yes | Mostly Yes | Product Dependent | Flexible |
| Business Vintage | Flexible | 3-5 Years | 3-5 Years | 3-5 Years | Flexible |
| New business/ Startup friendly | YES | NO | NO | NO | May be |
| Repayment option | Flexible | EMI only | EMI only | EMI only | Flexible |
| Pre-payment charges | Nil-after 1 month | High | High | Dependent | Flexible |
| Hidden Charges | None | Varies | Yes | Yes | None |
| Rate of Interest | As per credit score | As per policy | As per policy | As per policy | Opportunity based |