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Ftcash Business Loan Interest Rate Jun 2021

Ftcash Business Loan Interest Rates India

Last Updated 19th Jan 2021

Ftcash offers Business Loan starting at interest rate of 18.00%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

Interest Rate 18.00%
Processing Fee 2% of loan amount
Tenure From 1 months to 36 months
Lowest EMI per lakh ₹ 3,615
Loan Amount Min ₹ 50,000 and Max ₹ 1 Cr
Part Prepayment, Charges Not allowed
Early Foreclosure, Charges Allowed after 1 EMI's, Nil foreclosure charges

Offers special business loan for retailers

Apply for Business Loan @ 14.00%*

Ftcash Business Loan

Ftcash offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from Ftcash:

  • Offers special business loan for retailers
  • Easy and simple documentation plus quick loan disbursal
  • No collateral security required
  • Facility of automated daily and weekly payment
  • You can foreclose your entire Business loan anytime after paying 1 EMI's at foreclosure charges - Nil foreclosure charges

Ftcash Business Loan Interest Rate Calculator

There are multiple factors on which basis bank calculates your interest rate. Some of these factors are -

  • Loan amount: Business loan rate in Ftcash depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum ₹ 50,000 to upto ₹ 1 Cr. Interest rate for high loan amount can be lower resulting in lower EMIs.
  • CIBIL Score: Ftcash offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from Ftcash, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
  • Revenue: Ftcash will offer you loan at lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least ₹ 6,00,000
  • Time in Business: Ftcash offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from Ftcash is 12 months.

Lowest Ftcash Business Loan Interest Rates

Currently, the lowest business loan rate offered by Ftcash starts at 18.00%. There has been no change in the lowest interest rate of Ftcash business loan interest rate for a long time and the interest rate continues to be in the range of 18.00% to 24.00%.

Ftcash Business Loan Rate Trends of Last 1 Year

Last Updated Date Interest Rates
31 Mar, 2021 18.00%
25 Mar, 2021 18.00%
19 Jan, 2021 18.00%

Ftcash Business Loan Eligibility Criteria

Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are:

Eligibility Criteria Description
Age 21 to 65 years
Minimum Turnover ₹ 6,00,000
Business Existence (in months) 12 months
ITR (months) 0 months
Loan Amount ₹ 50,000 to ₹ 1 Cr
Loan Tenure 36 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

Ftcash Business Loan Eligibility Calculator

Eligibility of Business loan in Ftcash relies on two important factor:

  • Your ability to repay the loan
  • Your past track record in repayment of loans.

The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. Ftcash offers loan to those who are at least 21 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
  • Loan Amount: Based on the loan amount eligibility, bank gives you loan ranging from ₹ 50,000 to ₹ 1 Cr. To improve chances of approval, apply for a loan amount that you can comfortably service.
  • Profitability and Revenue: Loan eligibility significantly depends upon profitability on your turnover, revenue and profitability. Ftcash requires profit for minimum 2 years and minimum business turnover of ₹ 6,00,000.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Ftcash requires minimum business track record of 12 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get loan.
  • ITR and Banking: Bank gives loan only after checking your income tax return and bank statements. Your ITR details for minimum 0 months and bank statement for minimum 12 months will be required by Ftcash.
  • CIBIL Score: When checking loan eligibility, Ftcash will look at the complete CIBIL report. Ftcash will check your repayment history for all current and past loans and credit cards. Bank advise you to maintain a score of 750 and above to get loan approval.

Ftcash Business Loan EMI Calculator

Ftcash Business Loan EMI is a fixed amount that you pay each month towards the repayment of your loan till the end of tenure. Lowest EMI offered by Ftcash is ₹ 0.04 Lakh per lakh loan amount. EMI of Ftcash depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 36 months loan from Ftcash at an interest rate of 18.00% per annum, EMI will be ₹ 0.04 Lakh per ₹ 1 Lakh loan amount. At an interest rate of 24.00% for the same loan, the EMI will be ₹ 0.04 Lakh.
  • Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 18.00% per annum, the EMI on Ftcash business loan would range from ₹ 1.01 Lakh to ₹ 0.04 Lakh for loan tenure ranging from 1 to 36 months.
  • Amount Borrowed: Ftcash Loan EMI will be high if you apply for a high loan amount. For amount borrowed ₹ 50,000 , the EMI at 18.00% for 36 months would be ₹ 0.02 Lakh. Similarly for amount borrowed ₹ 1 Cr, the EMI at 18.00% for 36 months would be ₹ 0.04 Cr.

What are the Benefits of Calculating Business Loan EMI?

  • Business loan EMI calculator of Ftcash helps you to calculate your monthly EMI at different rate of interest
  • Ftcash EMI calculator helps you to know your capacity to repay the loan after meeting your regular monthly expenses
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Business Loan Products

Ftcash offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Other Charges

In addition to interest rates, business loan also carry some other charges which include:

  • Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Ftcash allows prepayment of loan after paying 1 EMI’s with prepayment charges - Nil foreclosure charges
  • Processing Fee- Ftcash asks for a processing fee of 2% of loan amount with applicable service tax

Documents Required

  • Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 24 months
  • Bank statement of last 6 months

FAQs

Why to take business loan from Ftcash?

Bank offers loan at 18.00% rate with the lowest EMI of ₹ 3,615 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Ftcash.

Has Ftcash reduced the business loan interest rate?

Currently, the lowest business loan rate offered by Ftcash starts at 18.00%. There has been no change in the lowest interest rate of Ftcash business loan interest rate for a long time and the interest rate continues to be in the range of 18.00% to 24.00%.

What is the interest charged on Ftcash business loan?

Interest rates on Business loan in Ftcash are very attractive starting from 18.00% to 24.00%. Bank offer various offer for self employed professionals to get loan at very low rate of interest.

What is the lowest EMI per lakh on business loan from Ftcash?

If you apply for loan from Ftcash, your lowest EMI per lakh will be ₹ 3,615.

What is the minimum and maximum tenure of business loan in Ftcash?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 1 months to maximum echo 36 months.

How much business loan amount I can borrow from Ftcash?

Ftcash offers you loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 1 Cr.

What is the processing fee charged by Ftcash on business loan?

Ftcash charges a processing fee of 2% of loan amount with applicable tax.

Is age an eligibility factor to get loan for business from Ftcash?

Yes, age is an important eligibility factor to get loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.

What are the prepayment charges on business loan from Ftcash?

Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by Ftcash is Nil foreclosure charges.


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