Compare Indifi vs Fullerton India Business Loan

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Bank	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	SBI HDFC Bank ICICI Bank RBL Bank Tata Capital Lendingkart Bajaj Finserv IDFC First Bank IIFL Bank of Maharashtra IndusInd Bank Kotak Bank Fullerton India IDBI Bank Ftcash 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
Interest Rate	Interest Rate 15.00% - 24.00%	17.00% - 21.00%
Processing Fees	Processing Fees 2% of the loan amount	2%
Loan Amount	Loan Amount ₹ 0 to ₹ 5 Lakh	₹ 1.50 Lakh to ₹ 20 Lakh
Loan Tenure	Loan Tenure 36 Months	12 to 48 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,467	₹ 2,886
Part Payment Charges	Part Payment Charges Allowed after 0 months at Nil charges	Allowed after 6 months at 3 - 7%
Foreclosure Charges	Foreclosure Charges Allowed after 0 months at 4% charges	Allowed after 6 months at 3 - 7%
Eligible Age	Eligible Age 23 to 65 Years	27 to 65 Years
Minimum Years in Business Required	Minimum Years in Business Required NA	36 Months
Minimum Turnover Required	Minimum Turnover Required ₹ 0	₹ 20 Lakh
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 5/5.0	3.5/5.0

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Compare Business Loan EMI of Indifi and Fullerton India

Loan Amount	Indifi	Fullerton India
₹ 1 Lakh	₹ 3,467	₹ 2,886
₹ 5 Lakh	₹ 17,333	₹ 14,428
₹ 10 Lakh	₹ 34,665	₹ 28,855
₹ 15 Lakh	₹ 51,998	₹ 43,283

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

Fullerton India offers lower Business Loan EMI at Rs. 2886 for 48 Months compared to Indifi with a minimum EMI of Rs. 3467 for 36 Months. In addition, average customer ratings for Fullerton India is currently at 3.5/5.0, making it a good choice for taking a Business Loan.

How does Indifi Business Loan compare with Fullerton India Business Loan?

A detailed comparison of Indifi 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 Indifi Loan is 15.00%, which is lower than the lowest interest rate of Fullerton India at 17.00%. Hence, Indifi is offering a cheaper loan option.
Compared to other Business Loan charges such as processing fees, Indifi charges a processing fee of 2% of the loan amount, while Fullerton India charges a processing fee of Upto 2%.
Fullerton India offers Business Loan upto an amount of ₹ 20 Lakh, while Indifi offers Loan upto an amount of ₹ 5 Lakh. Therefore, Fullerton India can be a better option if you are looking for a high value amount.
One feature that makes Business Loan a better option is the foreclosure facility. Indifi gives the option to close the loan after Zero months at 4% charges and Fullerton India gives the option to close the loan after 6 months at 3 - 7%. This makes Indifi a better option for Business Loan.
Fullerton India and Indifi allow part payment on Business Loan after 6 months at 3 - 7%. Fullerton India applies a charge of 3 - 7% and Indifi charges Nil charges on Business Loan.
Indifi 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 Indifi.
Fullerton India can be a better option if you are looking for fund requirements after 36 months. Indifi offers a business loan once if business is NA months old. Hence, Fullerton India should be a preferred choice for relatively new enterprises.
Indifi has an average customer rating of 5. In contrast, Fullerton India has an average customer rating of 3.5, based on which it is clear that Indifi has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Business Loan – Indifi or Fullerton India?

As per the current rates, Indifi offers a lower interest rate of 15.00% on loans compared to Fullerton India, which offers a Business Loan at 17.00%.

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Business Loan News - Aug 2022

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2022-04-29 : ICICI Bank Launches Digital Ecosystem for MSMEs
The new digital ecosystem comprises three pillars, including enhanced banking services for existing customers, MSMEs who are customers of other banks, and other value-added services for all.
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Union Bank of India will be using a first-of-its-kind stressed asset recovery automated solution (SARAS) to help the bank enforce securities, track recoveries, and enhance monitoring of stressed assets.

*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More

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