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Fullerton Business Loan EMI Calculator India Oct 2021

Business Loan EMI Calculator Fullerton India

Last Updated 23rd Aug 2021

Get monthly EMI as low as ₹ 2,886 per lakh on Fullerton India business loan. Business loan EMI in Fullerton India depends upon loan annual turnover, gross receipts, number of years of ITR, loan amount, loan tenure and interest rate.

Loan Amount1 Year Loan2 Year loan4 Year loan
₹ 1 Lakh₹ 9,120₹ 4,944₹ 2,886
₹ 5 Lakh₹ 45,602₹ 24,721₹ 14,428
₹ 10 Lakh₹ 91,205₹ 49,442₹ 28,855
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Business Loan Calculator Fullerton India

  • Business loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Fullerton India against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • Fullerton India offers business loans with loan tenure up to 48 months that translates into a lowest loan EMI of ₹ 2,886 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by Fullerton India on business loan is 17.00%.

Use EMI Calculator to Calculate your EMI on Business Loan at Different Tenure

Business loan EMI for ₹ 10 Lakh loan amount at lowest 17.00% interest rate offered by Fullerton India for different tenures

1 year 2 year 4 year
Fullerton India EMI for loan amount of ₹ 10 Lakh at 17.00% ₹ 91,205 ₹ 49,442 ₹ 28,855
Total amount you pay back to the bank including principal and interest ₹ 11,81,148 ₹ 13,95,110 ₹ 19,46,332
Interest you have to pay over loan tenure ₹ 1,81,148 ₹ 3,95,110 ₹ 9,46,332
  • The above table shows the longer your loan tenure, lower is the EMI you pay on the loan. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take ₹ 10 Lakh loan for a period of 4 years, you pay the lowest EMI of ₹ 28,855. However, you pay an interest of ₹ 9,46,332 on a ₹ 10 Lakh loan.
  • In contrast, if you take a ₹ 10 Lakh loan from Fullerton India at the lowest loan rate offered for a period of 1 year, you pay a higher loan EMI of ₹ 91,205 and pay an interest of only ₹ 1,81,148 which is less than half of what you paid in a 4 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting Fullerton India Business Loan EMI

  • Loan amount - This is the amount borrower promises to repay to the bank with the interest applied. Fullerton India gives minimum business loan of ₹ 1,50,000 up to an amount of ₹ 20,00,000.
  • Interest rate - Interest rate is the rate charged over the principal amount borrowed. Higher interest rate increases your loan EMI which will increase the total cost of the loan. Lowest interest rate offered by Fullerton India is 17.00%. Do complete market research and compare rates online before you apply for a business loan.
  • Loan tenure - This is the period in which you can repay your business loan to the bank. Longer loan tenure means lower loan EMI. Generally, Fullerton India offers business loan for a maximum tenure of 48 months.

Fullerton India Business Loan Amortization Calculator

Fullerton India Business Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Fullerton India gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Business Loan of ₹ 7 Lakh for 5 years from Fullerton India at an interest rate of 17.00%. EMI calculated for this loan amount is ₹ 17,397 and the total annual EMIs to be paid annually is ₹ 2,08,762. The EMI schedule of loan for 5 years is explained below in the table –

Amortization Schedule for a Business Loan of ₹ 7 Lakh over the 5 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 29,431 ₹ 22,760 ₹ 52,190 ₹ 6,77,240
2022 ₹ 1,07,480 ₹ 1,01,282 ₹ 2,08,762 ₹ 5,75,958
2023 ₹ 88,855 ₹ 1,19,907 ₹ 2,08,762 ₹ 4,56,051
2024 ₹ 66,805 ₹ 1,41,957 ₹ 2,08,762 ₹ 3,14,095
2025 ₹ 40,700 ₹ 1,68,061 ₹ 2,08,762 ₹ 1,46,033
2026 ₹ 10,538 ₹ 1,46,033 ₹ 1,56,571 ₹ 0

In the above illustration, on a Fullerton India Business Loan of₹ 7 Lakh, taken at the lowest interest rate of 17.00, EMI paid is ₹ 17,397 and an annual total of EMIs is ₹ 2,08,762, the interest component is ₹ 1,11,665 while the principal component is ₹ 97,097 in year 1 of loan disbursement. You repay only 13.87% of the total principal after paying 12 EMIs during the first year.

Fullerton Business Loan Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Fullerton business loan EMI is calculated:
In above formula,
P = Loan amount. This can range from ₹ 1,50,000 to ₹ 20,00,000
r = Rate of interest per month. Current rate is 17.00%
n = tenure in month. For Fullerton, this can be 48 months

Tips to decide the right amount of Fullerton India Business Loan EMI

  • Ascertain the amount you need to borrow: It is important that before approaching Fullerton India for business loan, you need to estimate the amount of loan you need to borrow. Remember business loan is an unsecured short term loan, and hence it is advisable to minimize your loan amount to the extent possible. Also, based on the EMI you can service, try to opt for lowest tenure of loans as long tenure loans result in huge interest outgo.
  • Review your current obligations: Before taking loan from Fullerton India, it is advisable to do an evaluation of your current monthly expenses including any EMI obligations that you have on your current loans. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.

FAQs

What is the calculation of Fullerton India Business Loan EMI?

Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Fullerton India against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.

  • Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Fullerton India against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With Fullerton India offering business loan with loan tenure up to 48 months, the loan EMI can be as low as ₹ 2,886 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by Fullerton India are as low as 17.00%. You can check EMI for other tenures using our Fullerton India business loan calculator.
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

How does MyLoanCare business loan calculator calculate EMI?

This calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.

  • This calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

Will the Fullerton India business loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

Typically, the business loan EMI remains unchanged unless the customer requests for a change and the same is approved by Fullerton India subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI).

  • In case the floating rate of interest on your business loan increases, Fullerton India will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by Fullerton India, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranche EMI scheme, your loan EMI will increase with each disbursement.

Will business loan EMI change in case of prepayment?

Fullerton India allows prepayment at nil charges or penalty in case of floating rate business loans.

  • When you make a prepayment, the outstanding principal amount on your loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure same (that is paying lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.

Why should I calculate Fullerton India loan EMI before taking a loan?

In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and makes EMI easily affordable.

  • If you already know the EMI you have to pay each month, then you can plan your expenses accordingly.
  • Based on the EMI amount, you can opt for making prepayment of your business loan in future when you have surplus amount.

Compare Business Loan EMI of All Banks

Fullerton India Business Loan Customer Care Toll Free Number
City Customer Care Number
Agra 1800-103-6001
Ahmedabad 1800-103-6001
Ambala 1800-103-6001
Anand 1800-103-6001
Aurangabad Bihar 1800-103-6001

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Fullerton Business Loan News - Oct 2021
  • 2019-06-14 : Fullerton India Home Finance Company opens a new branch in Vijayawada
    NBFC Fullerton India Home Finance Company Limited which operates under the brand Grihashakti has launched its new branch in Vijayawada at Bhaskar Plaza, 4th Floor, Gopala Reddy Road, Governorpeta. With the opening of this new branch, the total number of bank branches has reached 82 in Andhra Pradesh. The bank branch will offer facilities like savings account deposits, loans, including personal loans, and business loans.
  • 2017-04-29 : IFC to invest $100 million dollars in Fullerton India Credit Company bond issue
    IFC (international finance corporation) has proposed to invest $100 million in Temasek Holdings owned Fullerton India credit company through subscription to the masala bonds or NCDs. The objective stated by the financial institution behind this funding is to uplift the economically backward segment.
*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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