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Compare Neogrowth vs Fullerton India Business Loan

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Bank
Interest Rate
Interest Rate
24.00% - 0.00%
17.00% - 21.00%
Processing Fees
Processing Fees
Upto 3% of loan amount
2%
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 8 Lakh
₹ 1.50 Lakh to ₹ 20 Lakh
Loan Tenure
Loan Tenure
9 to 24 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 5,287
₹ 2,886
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 6 months at 3 - 7%
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil 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
12 Months
36 Months
Minimum Turnover Required
Minimum Turnover Required
₹ 24 Lakh
₹ 20 Lakh
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.5/5.0
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Compare Business Loan EMI of Neogrowth and Fullerton India

Loan Amount Neogrowth Fullerton India
₹ 1 Lakh ₹ 5,287 ₹ 2,886
₹ 5 Lakh ₹ 26,436 ₹ 14,428
₹ 10 Lakh ₹ 52,871 ₹ 28,855
₹ 15 Lakh ₹ 79,307 ₹ 43,283

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

Fullerton India offers lower Business Loan EMI at Rs. 2886 for 48 Months compared to Neogrowth with a minimum EMI of Rs. 5287 for 24 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 Fullerton India Business Loan compare with Neogrowth Business Loan?

A detailed comparison of Fullerton India and Neogrowth 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 Loan is 17.00%, which is lower than the lowest interest rate of Neogrowth at 24.00%. Hence, Fullerton India is offering a cheaper loan option.
  • Compared to other Business Loan charges such as processing fees, Neogrowth charges a processing fee of Upto 3% of loan amount, while Fullerton India charges a processing fee of Upto 2%.
  • Fullerton India offers Business Loan upto an amount of ₹ 20 Lakh, while Neogrowth offers Loan upto an amount of ₹ 8 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. Neogrowth gives the option to close the loan after 1 months at Nil charges and Fullerton India gives the option to close the loan after 6 months at 3 - 7%. This makes Neogrowth a better option for Business Loan.
  • Fullerton India allows part payment on Business Loan after 6 months at 3 - 7%, while Neogrowth does not offer a part payment facility. 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 Neogrowth is ₹ 24 Lakh. Hence, small businesses may find is easier to get a loan from Fullerton India.
  • Neogrowth 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, Neogrowth should be a preferred choice for relatively new enterprises.
  • Fullerton India has an average customer rating of 3.5. In contrast, has an average customer rating of , based on which it is clear that Fullerton India has a high customer service focus, an easy process and a quick turnaround.

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

As per the current rates, Fullerton India offers a lower interest rate of 17.00% on loans compared to Neogrowth, which offers a Business Loan at 24.00%.

Know all about Business Loan

Know more about Neogrowth Business Loan

Know more about Fullerton India Business Loan

Compare Neogrowth Business Loan With Other Banks

Compare Fullerton India Business Loan With Other Banks

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Business Loan News - Oct 2021
  • 2021-10-11 : IIFL Finance Launches Instant Business Loan
    IIFL Finance has launched instant business loans on WhatsApp to avail of loan amount upto Rs. 10 Lakhs with benefits such as minimum documentation and quick approval.
  • 2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
    IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
  • 2021-10-05 : HDFC Bank Reports Growth in Advances in Q2
    HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
  • 2021-10-04 : Yes Bank Posts Growth in Loans and Deposits
    Yes Bank has posted growth of 3.6% (year-on-year) in advances at Rs 1,72,945 crore for the quarter ended September 2021 (Q2FY22). Its advances stood at Rs 1,66,923 crore at end of September 2020 (Q2FY21).
  • 2021-09-30 : Govt Extends Emergency Credit Scheme for Micro, Small and Medium Enterprises
    The government has extended the emergency credit scheme for MSMEs till 31st March 2022. The new deadline for disbursement of loans under this scheme is 30th June 2021.
*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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