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|
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
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.
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.
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.
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.
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.
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.
You must maintain a credit score of 700 and above if you wish to successfully apply for 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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