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Fullerton Business Loan EMI Calculator India Oct 2020

Business Loan EMI Calculator Fullerton India

Last Updated 12th Aug 2020

Get monthly EMI as low as Rs. 3,043 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₹ 9,263₹ 5,090₹ 3,043
₹ 5 Lakh₹ 46,317₹ 25,448₹ 15,215
₹ 10 Lakh₹ 92,635₹ 50,896₹ 30,430
Business Loan EMI Calculator
Lowest Interest Rate
Best Offers on Business Loan offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action
HDFC Bank15.65%₹ 2,816Check Eligibility
Bajaj Finserv18.00%₹ 2,937Check Eligibility
ICICI Bank16.49%₹ 3,540Check Eligibility

* Starting From

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 ₹ 3,043 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by Fullerton India on business loan is 20.00%.

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

Business loan EMI for ₹ 10 Lakh loan amount at lowest 20.00% 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 20.00% ₹ 92,635 ₹ 50,896 ₹ 30,430
Total amount you pay back to the bank including principal and interest ₹ 12,15,506 ₹ 14,77,455 ₹ 21,82,875
Interest you have to pay over loan tenure ₹ 2,15,506 ₹ 4,77,455 ₹ 11,82,875
  • 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 ₹ 30,430. However, you pay an interest of ₹ 11,82,875 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 ₹ 92,635 and pay an interest of only ₹ 2,15,506 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 20.00%. 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.

Business Loan Amortization Calculator

An amortization schedule is a table of periodic loan payments that shows the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.

In the Amortization schedule, your Business Loan monthly EMI will be equal, but the component of EMI, which consists of interest payment and principal payment will not remain the same every month, it keeps on changing.

Illustration: How to read an amortization schedule

Suppose if you take a Business Loan of ₹ 5 Lakh for 2 years at an interest rate of 13.50%. EMI calculated for this loan amount is ₹ 23,889 and the total annual EMIs to be paid annually is ₹ 2,86,662. The EMI schedule of loan for 2 years is explained below in the table –

Amortization Schedule for a Business Loan of ₹ 5 Lakh over the 2 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2020 ₹ 16,256 ₹ 55,409 ₹ 71,666 ₹ 4,44,591
2021 ₹ 45,457 ₹ 2,41,205 ₹ 2,86,662 ₹ 2,03,386
2022 ₹ 11,611 ₹ 2,03,386 ₹ 2,14,997 -₹ 0

Each Business Loan EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

In the above illustration, on a Business Loan of ₹ 5 Lakh, taken at the lowest interest rate of 13.50%, EMI paid is ₹ 23,889 and an annual total of EMIs is ₹ 2,86,662, the interest component is ₹ 53,418 while the principal component is ₹ 2,33,244 in year 1 of loan disbursement. You repay only 46.65% of the total principal after paying 12 EMIs during the first year.

In year 2, the interest component of EMI is around 6.94%, while the principal component is around 93.06%. Upto 2 years, you have cumulatively repaid 100% of your total Business Loan.

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 20.00%
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 ₹ 3,043 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 20.00%. 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 Number, Email, Application Status, Branches
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
Bangalore 1800-103-6001
Bhilai 1800-103-6001
Bhilwara 1800-103-6001
Bhiwadi 1800-103-6001
Bhopal 1800-103-6001
Bhubaneswar Cuttack 1800-103-6001
Bikaner 1800-103-6001
Chandigarh 1800-103-6001
Chennai 1800-103-6001
Cochin 1800-103-6001
Coimbatore 1800-103-6001
Dehradun 1800-103-6001
Delhi 1800-103-6001
Durg 1800-103-6001
Faridabad 1800-103-6001
Gandhinagar 1800-103-6001
Ghaziabad 1800-103-6001
Goa 1800-103-6001
Greater Noida 1800-103-6001
Gurgaon 1800-103-6001
Guwahati 1800-103-6001
Gwalior 1800-103-6001
Hyderabad 1800-103-6001
Indore 1800-103-6001
Jabalpur 1800-103-6001
Jaipur 1800-103-6001
Jalandhar 1800-103-6001
Jodhpur 1800-103-6001
Kanpur 1800-103-6001
Karnal 1800-103-6001
Kolhapur 1800-103-6001
Kolkata 1800-103-6001
Kota 1800-103-6001
Kozhikode 1800-103-6001
Lucknow 1800-103-6001
Ludhiana 1800-103-6001
Madurai 1800-103-6001
Meerut 1800-103-6001
Mehsana 1800-103-6001
Mohali Sas Nagar 1800-103-6001
Mumbai 1800-103-6001
Mussoorie 1800-103-6001
Nagpur 1800-103-6001
Nashik 1800-103-6001
Noida 1800-103-6001
Noida Extn 1800-103-6001
Panipat 1800-103-6001
Patna 1800-103-6001
Pondicherry 1800-103-6001
Pune 1800-103-6001
Raipur 1800-103-6001
Rajkot 1800-103-6001
Ranchi 1800-103-6001
Rohtak 1800-103-6001
Roorkee 1800-103-6001
Salem 1800-103-6001
Shimla 1800-103-6001
Sonipat 1800-103-6001
Surat 1800-103-6001
Trichy 1800-103-6001
Udaipur 1800-103-6001
Vadodara 1800-103-6001
Varanasi 1800-103-6001
Vijaywada 1800-103-6001
Vizag 1800-103-6001

Fullerton India Business Loan Reviews 3.5/5  by 2 customers
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Fullerton Business Loan News - Oct 2020
  • 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 subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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