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Compare Business Loan - Corporation Bank vs Fullerton India

Bank
Parameters
Interest Rate
Interest Rate
13.55% - 14.55%
20.00% - 33.50%
Processing Fees
Processing Fees
1.5%, Min Rs. 500
2%
Loan Amount
Loan Amount
₹ 2 Lakh to ₹ 5 Cr
₹ 1.50 Lakh to ₹ 20 Lakh
Loan Tenure
Loan Tenure
12 to 84 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,849
₹ 3,043
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 6 months at 3 - 7%
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 6 months at 3 - 7%
Borrower’s Age
Borrower’s Age
21 to 58 Years
27 to 65 Years
Minimum Years in Business Required
Minimum Years in Business Required
12 Months
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 0
₹ 20 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.5/5.0
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Compare EMI of Corporation Bank and Fullerton India Business Loan

Loan Amount Corporation Bank Fullerton India
₹ 1 Lakh ₹ 1,849 ₹ 3,043
₹ 5 Lakh ₹ 9,246 ₹ 15,215
₹ 10 Lakh ₹ 18,492 ₹ 30,430
₹ 15 Lakh ₹ 27,738 ₹ 45,646

Which is a better bank for Business Loan – Corporation Bank or Fullerton India?

Corporation Bank offers lower Business Loan EMI at 1849 on a Business Loan for 84 Months as compared to Fullerton India with a minimum EMI of 3043 for 48 Months. Average customer ratings for Corporation Bank is currently at /5.0 which makes it a good choice for taking a Business Loan.

How does Corporation Bank Business Loan compare with Fullerton India Business Loan?

A detailed comparison of Corporation Bank and Fullerton India 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 Corporation Bank Business Loan is 13.55%, which is lower than the lowest interest rate of Fullerton India at 20.00%. Hence, Corporation Bank is offering a cheaper loan option.
  • When compared on other Business Loan charges such as processing fees, Corporation Bank charges a processing fees of 1.5%, Min Rs. 500 while Fullerton India charges a processing fees of 2%.
  • Corporation Bank offers Business Loan upto an amount of ₹ 5 Cr while Fullerton India offer Business Loan upto an amount of ₹ 20 Lakh. Corporation 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. Corporation Bank gives the option to close the loan after Zero months at Nil prepayment charges and Fullerton India gives the option to close the loan after 6 months at 3 - 7%. This makes Corporation Bank a better option for Business Loan.
  • Corporation Bank and Fullerton India allow part payment on Business Loan after Zero months at Nil charges. Corporation Bank applies a charge of Nil charges and Fullerton India charges 3 - 7% on Business Loan.
  • Corporation Bank gives business loan at a minimum turnover of ₹ 0 . However, the turnover requirement for a business loan from Fullerton India is ₹ 20 Lakh. Hence, small businesses may find is easier to get a loan from Corporation Bank.
  • Corporation Bank can be a better option if you are looking for fund requirements after 12 months. Fullerton India offers a business loan once if business is 36 months old. Hence, Corporation Bank should be a preferred choice for relatively new enterprises.
  • Fullerton India has an average customer ratings of 3.5, while has an average customer rating of , based on which it is clear that Fullerton India has a high customer service focus, an easy Business Loan process and a quick turnaround.

Which bank offers lower interest rate on Business Loan – Corporation Bank or Fullerton India?

As per the current rates, Corporation Bank offers a lower interest rate of 13.55% on Business Loan when compared to Fullerton India which offers a Business Loan at 20.00%.

Know all about Business Loan

Know more about Corporation Bank Business Loan

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Compare Corporation Bank Business Loan With Other Banks

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Business Loan News - Apr 2021
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    The finance ministry reported that banks and financial institutions have sanctioned Rs. 15 lakh crores to over 28.68 crores beneficiaries in the last 6 years. Prime Minister Mudra Yojna or PMMY was launched in April 2015 with an aim to promote entrepreneurship.
  • 2021-04-07 : IIFL Home Finance signs co-lending agreement with Standard Chartered Bank
    IIFL Home Finance and Standard Chartered Bank have entered into a co-lending arrangement for extending credit. Under this agreement, IIFL Home Finance and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.
  • 2021-04-05 : Yes Bank Jan-March deposits up 54% to 162, 947
    Yes Bank reported that the bank’s loan and advances which include home, personal, LAP, gold, two-wheeler, car and doctor loans along with business and mudra loans increased by 0.8% in year-on-year (YoY) terms to Rs. 172,850 crores. In addition to this, the bank deposit which includes fixed and recurring deposits grew 54.7% to Rs. 162,947 crores as compared to ₹105,364 crores on a yearly basis. The CASA(current and savings account) was up 51.8% to Rs. 42,587 crores against Rs. 28,063 crores YoY.
  • 2021-04-05 : Karnataka Bank targeting 1.42 lakh business turnover in FY 22
    Karnataka Bank is looking for 12% business growth in the current fiscal and targeting 1.42 lakh business turnover. The bank emphasised that it is planning to leverage digital banking to achieve its target.
  • 2021-03-26 : Digital Banking likely to play a major role in the banking sector
    RBI Governor emphasised that digital lending is going to play a major role in the coming years and the market will be more technology-dependent. Further, he suggested that banks need to adapt to new technologies and adapt to the changes and transformations which are happening in the world of digital lending to remain in sync with time.
*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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