Compare Business Loan - Fullerton vs Tata Capital
| Bank |
SBI
HDFC Bank
ICICI Bank
RBL Bank
Lendingkart
Bajaj Finserv
IDFC First Bank
IIFL
Bank of Maharashtra
IndusInd Bank
Kotak Bank
Fullerton India
Ftcash
Indifi
IDBI Bank
Neogrowth
Yes Bank
Allahabad Bank
PNB
OBC
Indian Overseas Bank
Dhan Laxmi Bank
DCB Bank
Andhra Bank
United Bank of India
Corporation Bank
Syndicate Bank
Bank of Baroda
|
SBI
HDFC Bank
ICICI Bank
RBL Bank
Tata Capital
Lendingkart
Bajaj Finserv
IDFC First Bank
IIFL
Bank of Maharashtra
IndusInd Bank
Kotak Bank
IDBI Bank
Ftcash
Indifi
Neogrowth
Allahabad Bank
Yes Bank
PNB
OBC
Indian Overseas Bank
Dhan Laxmi Bank
DCB Bank
Andhra Bank
United Bank of India
Corporation Bank
Syndicate Bank
Bank of Baroda
|
|---|---|---|
| Parameters | ||
| Interest Rate | Interest Rate 20.00% - 33.50% |
21.00% - 23.00% |
| Processing Fees | Processing Fees 2% |
From 1.50% to 2.50% |
| Loan Amount | Loan Amount ₹ 1.50 Lakh to ₹ 20 Lakh |
₹ 5 Lakh to ₹ 50 Lakh |
| Loan Tenure | Loan Tenure 12 to 48 Months |
12 to 48 Months |
| Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 3,043 |
₹ 3,097 |
| Part Payment Charges | Part Payment Charges Allowed after 6 months at 3 - 7% |
Not Allowed |
| Foreclosure Charges | Foreclosure Charges Allowed after 6 months at 3 - 7% |
Allowed after 6 months at 4.5% of outstanding balance |
| Borrower’s Age | Borrower’s Age 27 to 65 Years |
25 to 65 Years |
| Minimum Years in Business Required | Minimum Years in Business Required 36 Months |
60 Months |
| Minimum Turnover Required | Minimum Turnover Required ₹ 20 Lakh |
₹ 1 Cr |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) 3.5/5.0 |
5/5.0 |
Compare EMI of Fullerton and Tata Capital Business Loan
| Loan Amount | Fullerton India | Tata Capital |
|---|---|---|
| ₹ 1 Lakh | ₹ 7,358 | ₹ 7,128 |
| ₹ 5 Lakh | ₹ 36,791 | ₹ 35,640 |
| ₹ 10 Lakh | ₹ 73,582 | ₹ 71,280 |
| ₹ 15 Lakh | ₹ 1,10,373 | ₹ 1,06,920 |
Which is a better bank for Business Loan – Fullerton India or Tata Capital?
Fullerton India offers lower Business Loan EMI at 3043 on a Business Loan for 48 Months as compared to Tata Capital with a minimum EMI of 3097 for 48 Months. Average customer ratings for Fullerton India is currently at 3.5/5.0 which makes it a good choice for taking a Business Loan.
How does Fullerton India Business Loan compare with Tata Capital Business Loan?
A detailed comparison of Fullerton India and Tata Capital 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 Fullerton India Business Loan is 20.00%, which is lower than the lowest interest rate of Tata Capital at 21.00%. Hence, Fullerton India is offering a cheaper loan option.
- When compared on other Business Loan charges such as processing fees, Fullerton India charges a processing fees of 2% while Tata Capital charges a processing fees of From 1.50% to 2.50%.
- Tata Capital offers Business Loan upto an amount of ₹ 50 Lakh while Fullerton India offer Business Loan upto an amount of ₹ 20 Lakh. Tata Capital 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. Fullerton India and Tata Capital gives the option to close the loan after 6 months at 3 - 7% and 4.5% of outstanding balance. This makes Fullerton India a better option for Business Loan.
- Fullerton India allows part payment on Business Loan after 6 months at 3 - 7%, while Tata Capital does not offer part payment facility on Business Loan. This makes Fullerton India a better option for customers who want to retain the flexibility of reducing their loans whenever they have surplus funds available.
- Fullerton India gives business loan at a minimum turnover of ₹ 20 Lakh. However, the turnover requirement for a business loan from Tata Capital is ₹ 1 Cr. Hence, small businesses may find is easier to get a loan from Fullerton India.
- Fullerton India can be a better option if you are looking for fund requirements after 36 months. Tata Capital offers a business loan once if business is 60 months old. Hence, Fullerton India should be a preferred choice for relatively new enterprises.
- Tata Capital has an average customer ratings of 5, while Fullerton India has an average customer rating of 3.5, based on which it is clear that Tata Capital has a high customer service focus, an easy Business Loan process and a quick turnaround.
Which bank offers lower interest rate on Business Loan – Fullerton India or Tata Capital?
As per the current rates, Fullerton India offers a lower interest rate of 20.00% on Business Loan when compared to Tata Capital which offers a Business Loan at 21.00%.
How can I transfer my Business Loan from Fullerton India to Tata Capital?
You can transfer your Business Loan from Fullerton India to Tata Capital 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, Fullerton India offers the cheapest Business Loan at 20.00%.
How do I check my eligibility for Fullerton India and Tata Capital Business Loan?
You can check your eligibility for Fullerton India and Tata Capital 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 Fullerton India Business Loan
Know more about Tata Capital Business Loan
Compare Fullerton India Business Loan With Other Banks
Compare Tata Capital Business Loan With Other Banks
Know About MSMEs and Mudra Loan
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