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Fullerton Business Loan Interest Rate Jul 2020

Fullerton India Business Loan Interest Rates India

Last Updated 25th Jun 2020

Fullerton India offers Business Loan starting at interest rate of 17.00%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

Interest Rate 17.00%
Processing Fee 2%
Tenure From 12 months to 48 months
Lowest EMI per lakh ₹ 2,886
Loan Amount Min ₹ 1.50 Lakh and Max ₹ 20 Lakh
Part Prepayment, Charges Allowed after 6 EMI's, 3 - 7%
Early Foreclosure, Charges Allowed after 6 EMI's, 3 - 7%

Secure online process and systems

Fullerton Business Loan

Fullerton India 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 Fullerton India:

  • Secure online process and systems
  • Easy approval and minimum documentation
  • No collateral or guarantor required
  • You can prepay part of your loan anytime after paying 1 % prepayment charges
  • You can foreclose your entire Business loan anytime after paying 6 EMI's at foreclosure charges - 3 - 7%
  • Fullerton India has been rated 3.5/5.0 by customers for its service quality on MyLoanCare

Fullerton India 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 Fullerton India depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum ₹ 1.50 Lakh to upto ₹ 20 Lakh. Interest rate for high loan amount can be lower resulting in lower EMIs.
  • CIBIL Score: Fullerton India offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from Fullerton India, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
  • Revenue: Fullerton India 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 ₹ 20,00,000.
  • Time in Business: Fullerton India offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from Fullerton India is 36 months.

Fullerton India 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: 27 to 65 years
Minimum Turnover ₹ 20,00,000
Business Existence (in months) 36 months
ITR (months) 36 months
Loan Amount ₹ 1.50 Lakh to ₹ 20 Lakh
Loan Tenure 48 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

Fullerton India Business Loan Eligibility Calculator

Eligibility of Business loan in Fullerton India relies on two important factor:

1.Your ability to repay the loan and
2.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. Fullerton India offers loan to those who are at least 27 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 ₹ 1.50 Lakh to ₹ 20 Lakh. 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. Fullerton India requires profit for minimum 2 years and minimum business turnover of ₹ 20,00,000.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Fullerton India requires minimum business track record of 36 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 36 months and bank statement for minimum 6 months will be required by Fullerton India.
  • CIBIL Score: When checking loan eligibility, Fullerton India will look at the complete CIBIL report. Fullerton India 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.

Fullerton India Business Loan EMI Calculator

Fullerton India 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 Fullerton India is ₹ 0.01 Lakh per lakh loan amount. EMI of Fullerton India depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 48 months loan from Fullerton India at an interest rate of 17.00% per annum, EMI will be ₹ 0.01 Lakh per Rs. one lakh loan amount. At an interest rate of 21.00% for the same loan, the EMI will be ₹ 0.02 Lakh.
  • Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 17.00% per annum, the EMI on Fullerton India business loan would range from ₹ 0.02 Lakh to ₹ 0.01 Lakh for loan tenure ranging from 12 to 48 months.
  • Amount Borrowed: Fullerton India Loan EMI will be high if you apply for a high loan amount. For amount borrowed ₹ 1.50 Lakh, the EMI at 17.00% for 48 months would be ₹ 0.02 Lakh. Similarly for amount borrowed ₹ 20 Lakh, the EMI at 17.00% for 48 months would be ₹ 0 Cr.

What are the benefits of calculating business loan EMI?

  • Business loan EMI calculator of Fullerton India helps you to calculate your monthly EMI at different rate of interest
  • Fullerton India 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

Fullerton India 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:

Term Loan

Description

  • Fullerton India offers term loans up to Rs 50 lakhs with flexible repayment option. The loan is collateral-free and is easily accessible.
  • The loan is taken to fund the business requirements on a day to day basis and for business expansion.

Who is eligible?

  • Loan applicants must be engaged in the current business for the last three years, with a total experience of five years.
  • The minimum turnover of the enterprise should be Rs 10 lakhs.
  • Also, the business enterprise must be earning profit for the last two years.
  • A business is eligible for this loan who have a Minimal annual income (ITR) of Rs 2 lakhs per annum.
  • The loan is taken by self-employed individuals, proprietors, partnership firms and private limited companies involved in services, trading and manufacturing sector.

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. Fullerton India allows prepayment of loan after paying 6 EMI’s with prepayment charges - 3 - 7%
  • Processing Fee- Fullerton India asks for a processing fee of 2% 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 Fullerton India?

Bank offers loan at 17.00% rate with the lowest EMI of ₹ 1,417 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Fullerton India.

What is the interest charged on Fullerton India business loan?

Interest rates on Business loan in Fullerton India are very attractive starting from 17.00% to 21.00%. 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 Fullerton India?

If you apply for loan from Fullerton India, your lowest EMI per lakh will be ₹ 1,417.

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

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum echo 48 months.

How much business loan amount I can borrow from Fullerton India?

Fullerton India offers you loan if you need a minimum amount of ₹ 1.50 Lakh to a maximum amount of ₹ 20 Lakh.

What is the processing fee charged by Fullerton India on business loan?

Fullerton India charges a processing fee of 2% with applicable tax.

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

Yes, age is an important eligibility factor to get loan as you should be at least 27 years old at loan approval time and 65 years old at loan maturity time.

What are the prepayment charges on business loan from Fullerton India?

Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by Fullerton India is 3 - 7%.

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
MyLoanCare Service
3.5/5.0
Banks Service
3.5/5.0
Shekhar Rao, Bangalore
Reviewed on 03rd Feb 2017
4 / 5 stars
Fullerton India Business Loan Availed in

Prompt service.Helped me in getting the applied loan amount with quick disbursal.Read more...

Arvind Dixit, Pune
Reviewed on 26th Jul 2016
3 / 5 stars
Fullerton India Business Loan Availed in

Rates offered and processing fee charged was higher but overall process was smooth.Read more...

Fullerton India Business Loan News - Jul 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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