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Compare PNB vs Fullerton India Business Loan

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Bank
Interest Rate
Interest Rate
12.65% - 15.65%
17.00% - 21.00%
Processing Fees
Processing Fees
1.8% + taxes
2%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 15 Lakh
₹ 1.50 Lakh to ₹ 20 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,257
₹ 2,886
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%
Eligible Age
Eligible 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)
3.8/5.0
3.5/5.0
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Compare Business Loan EMI of PNB and Fullerton India

Loan Amount PNB Fullerton India
₹ 1 Lakh ₹ 2,257 ₹ 2,886
₹ 5 Lakh ₹ 11,287 ₹ 14,428
₹ 10 Lakh ₹ 22,574 ₹ 28,855
₹ 15 Lakh ₹ 33,861 ₹ 43,283

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

PNB offers lower Business Loan EMI at Rs. 2257 for 60 Months compared to Fullerton India with a minimum EMI of Rs. 2886 for 48 Months. In addition, average customer ratings for PNB is currently at 3.8/5.0, making it a good choice for taking a Business Loan.

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

A detailed comparison of PNB 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 PNB Loan is 12.65%, which is lower than the lowest interest rate of Fullerton India at 17.00%. Hence, PNB is offering a cheaper loan option.
  • Compared to other Business Loan charges such as processing fees, PNB charges a processing fee of 1.8% + taxes, while Fullerton India charges a processing fee of Upto 2%.
  • Fullerton India offers Business Loan upto an amount of ₹ 20 Lakh, while PNB offers Loan upto an amount of ₹ 15 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. PNB 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 PNB a better option for Business Loan.
  • Fullerton India and PNB allow part payment on Business Loan after 6 months at 3 - 7%. Fullerton India applies a charge of 3 - 7% and PNB charges Nil charges on Business Loan.
  • PNB 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 PNB.
  • PNB 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, PNB should be a preferred choice for relatively new enterprises.
  • PNB has an average customer rating of 3.8. In contrast, Fullerton India has an average customer rating of 3.5, based on which it is clear that PNB has a high customer service focus, an easy process and a quick turnaround.

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

As per the current rates, PNB offers a lower interest rate of 12.65% on loans compared to Fullerton India, which offers a Business Loan at 17.00%.

Know all about Business Loan

Know more about PNB Business Loan

Know more about Fullerton India Business Loan

Compare PNB Business Loan With Other Banks

Compare Fullerton India Business Loan With Other Banks

Know About MSMEs and Mudra Loan

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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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