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  • Fullerton India Business Loans

    The business loans offered from Fullerton India are aimed towards micro and small enterprises and are meant to facilitate growth and expansion as business opportunities present themselves. You can avail a loan of up to Rs.50 lakh with tenure ranging between 1 year and 5 years. The interest rate charged by the lender ranges between 17% and 21% and will depend on factors such as the loan amount and tenure chosen by you. The processing fee charged is up to 6.5% of the loan amount availed.

    Loan amount  Up to Rs.50 lakh 
    Tenure  Up to 5 years 
    Interest rate  17% p.a. - 21% p.a. 
    Processing fee  Up to 6.5% p.a. of the loan amount 

    Where can Fullerton India Business Loan be used?

    Fullerton India Business Loan can be utilised for repaying any large debts or expenses, buy additional stock or raw materials or equipment, thus aiding in the expansion of business. These loans can be availed without collateral which would make even start-up entrepreneurs comfortable with the terms.

    Features and Benefits of Fullerton India Business Loan 

    • Loan amount: You can avail up to Rs.50 lakh as loan amount from Fullerton India. 
    • Repayment tenure: The lending company offers flexible repayment tenure ranging between 1 year and 5 years. 
    • Transparent eligibility criteria: The eligibility criteria you have to fulfill in order to apply for a business loan is extremely transparent. 
    • Minimum documentation process: You are required to submit minimal documents making the whole process hassle-free. 
    • No security: You are not required to pledge any collateral or security to apply for a business loan from Fullerton India. 
    • Online access to your account: You can use the Fullerton India service portal to track and manage business loan account. 
    • Tailormade solutions: The products offered by Fullerton India comes with pre-approved offers for your working capital needs. 

    Who can apply for Fullerton India Business Loan?

    • Private limited companies, proprietors, self-employed people, and partnership firms working in trading, manufacturing, or services can apply for a business loan from Fullerton India. 
    • If you have a business experience of five years, and have been engaged in your current business for at least 3 years. 
    • Minimum age of eligibility is 22 years, and maximum age is 65 years at the time maturity. 
    • Your business must be making profit for at least two years. 
    • The minimum annual turnover must be Rs.10 lakh. 
    • You must own a business with a minimum annual income of Rs.2 lakh.  

    What are the loan limits?

    Business loans from Fullerton India can be availed up to Rs.50 lakh, depending upon the income level and creditworthiness of the business. This loan is available without collateral to entrepreneurs or businesses in the Manufacturing, Trading and/or Service industry.

    Loans can be repaid across a tenure of 12 months to 60 months and a pre-closure facility is also available wherein a loan can be closed after 6 months of availing it.

    What are the interest rates?

    Interest payable on Fullerton India Business Loan varies as per the credit rating of the applicant and the relationship of the bank with the customer. The rates are based on the discretion of the financial institution. The applicable rate of interest could be anywhere within 17 to 21% per annum at a floating rate and is linked to the prime lending rate of Fullerton India.

    What are the documents required?

    • Proof of Identity (Passport Copy, Voter ID, Driving License or PAN Card)
    • Address Proof (Ration card, Telephone Bill, Electricity Bill, Rental agreement, Passport copy, Bank Passbook/Statement or Driving License)
    • Bank Statements (Bank statement or Bank Passbook of the last six months)
    • Latest Income Tax Returns complete with computation of Income, Balance Sheet and Profit & Loss Account for the past two years
    • Partnership Deed or Board Resolution
    • Proof of number of years in business (Trade license, Establishment or Sales Tax Certificate, MOA (Memorandum of Agreement) or Partnership Deed)

    How to apply for Fullerton India Business Loan?

    • Visit the Fullerton India official website where on the menu click on ‘Business Loan’. 
    • Click on ‘Apply Now’. 
    • Based on your requirements select either Business Loan or SME Loan. 
    • Provide the details such as your name, email ID, etc. and upload the necessary documents. 
    • Enter the loan amount and select the repayment tenure. 
    • Based on the information provided by you, you will come to know whether the lender will be interested in considering your application for a business loan. 
    • If your application for a business loan is approved, you will be given a reference number which you must keep safely for future reference. 
    • A representative from the lending company will get in touch with you later in case any additional information is required. 
    • The application form and the documents will be verified by the lending company. If all the details provided are correct, the application for a business loan will get approved by the lender post which you will be given a customised offer on the loan amount and the interest rate. 
    • If you agree to all the terms and conditions, the amount will be immediately disbursed to your bank account. 

    You can apply for a business loan from Fullerton India offline by visiting the nearest Fullerton India branch along with all the necessary documents and application form. A representative from the lending company will help you with the application process. 

    Fullerton India Business Loan FAQs 

    1. Is the EMI calculator facility available on the Fullerton India website? 

      Yes, you can visit the business loan section on the official website of Fullerton India where you will find the EMI calculator facility. You can use the calculator to determine the EMI you will have to pay depending on the loan amount, tenure, and interest rate. 

    2. Is the eligibility calculator facility available on the Fullerton India website? 

      Yes, you can visit the business loan section on the official website of Fullerton India where you will find the eligibility calculator facility. You can then enter the relevant data to determine whether you are eligible to avail a business loan from the lending company. 

    3. Is the collateral required when applying for a business loan from Fullerton India? 

      You do not need to pledge any security for loan amount up to Rs.50 lakh. However, for loan amount above Rs.50 lakh, you will need to provide a collateral. 

    4. What should be my credit score in order to successfully apply for a business loan from Fullerton India? 

      You must maintain a credit score of 700 and above if you wish to successfully apply for a business loan from Fullerton India. 

    5. Can and LLC get a business loan from Fullerton India? 

      Yes, both LLC (Limited Liability Company) and LLP (Limited Liability Partnership) can apply for a small business loan from Fullerton India provided that they meet the eligibility criteria. 

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