ApplicationContext: It loads spring beans configured in spring configuration file,and manages the life cycle of the spring bean as and WHEN CONTAINER STARTS.It won't wait until getBean("springbeanref") is called.
BeanFactory It loads spring beans configured in spring configuration file,manages the life cycle of the spring bean when we call the getBean("springbeanref").So when we call the getBean("springbeanref") at the time of spring bean life cycle starts.