Urban Money

Fullerton India Business Loan

Fullerton India
4.5

Fullerton India Credit Company Limited (FICCL) is one of the leading non banking financial organisations offering customised financial solutions to its customers. FICCL offers business loans to entities like Private and Public Limited Companies, Sole Proprietorship, entrepreneurs and Limited Liability Partnerships. You can avail of a business loan of up to Rs. 50 Lakh from FICCL at amazing interest rates starting from 17% per annum and repayment tenure of up to 5 years.

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Business Loan Banks

Interest Rate

Processing Fee

Loan Amount/Tenure

Fullerton India Business Loan Interest Rate

17%

Up to 6.5%

Up to ₹50L

Tenure(1 - 48 Years)

Details

Features and Benefits of Fullerton India Business Loan

The key features and benefits to know before you apply for Fullerton India Business Loan include:

Servicing Capital Requirements

Fullerton India offers easy and quick loans for up to Rs. 50 Lakh to small businesses. The company has competitive rates for business loans ensuring your cost of capital remains low.

Flexible Repayment Tenure

FICCL offers flexible repayment tenure ranging from 1 year to 5 years. This helps you ensure your repayment schedule suits your cash flow.

Minimum Documentation Process

Fullerton India asks to submit minimal documents making the online application process of business loans easy and hassle-free.

Transparent Eligible Criteria

FICCL has transparent business loan eligibility criteria allowing borrowers to get funds easily. 

No Security Required

No collateral or security is required while applying for a business loan from Fullerton India.

Tailor-made Solutions

Fullerton India offers products that come with pre-approved offers for your capital needs.

Factors Affecting Fullerton India Business Loan Eligibility

Get to know the factors affecting Fullerton India business loan eligibility before you apply for one.  

Particulars Details
Profession Self-employed individuals, private limited companies, partnership firms and proprietors working in manufacturing, trading or services
Work Experience Borrowers should have been in the current business for at least 3 years with a total business experience of 5 years
Eligible Age 22-65 years
Minimum Turnover Rs. 10 Lakh
Profits Enterprises making profits for the past 2 years
Minimum Annual Income (ITR) Rs. 2 Lakh per year

Fullerton India Business Loan Fees and Charges

Listed below are the various Fullerton India Business Loan fees and charges. 

Fee Type Applicable Charges
Delayed EMI Payment Interest (per month of delay) As stated under additional interest charge*
Collection of Cheque / Cash (per collection) NIL
Cheque / ECS dishonour charges (per dishonour of cheque / ECS per presentation) Rs. 300
Swap Charges - for replacement of Post-dated cheques to ECS (per instance) Rs. 500
Swap Charges - for replacement of ECS to ECS (per instance) Rs. 500
Loan Cancellation Charges (loan cancelled before first EMI) Rs. 1000
Foreclosure Charges
  • Not allowed for 0 to 6 EMIs fully paid
  • 7% for 7 to 17 EMIs fully paid
  • 5% for 18-23 EMIs fully paid
  • 3% for 24 to 35 EMIs fully paid
  • 0% for 36 or more EMIs fully paid

Please note that additional interest is applicable for payment defaults, irrespective of the loan type. A rate of 24% is charged per annum on an overdue outstanding balance which is calculated on a day-to-day basis.

Fullerton India Business Loan Interest Rates

Here is an overview of the key features and interest rates of the Fullerton India Business Loan. 

Particulars Details
Loan Amount Up to Rs. 50 Lakh*
Loan Tenure 12-60 Months
Interest Rate 17-21% (depending upon various factors such as net income, business stability, location, existing monthly obligations, collaterals, etc.)
Processing Fee Up to 6.5% of the loan amount
Collateral Not required
Eligible Entities Sole Proprietorships, Private and Public Limited Companies, Partnership Firms, LLPs
Online Account Access Available

Factors Affecting Fullerton India Business Loan Interest Rates

Here are the seven crucial factors that affect Fullerton India business loan interest rates.

  • Applicant Type
  • Model of Business
  • Credit Score
  • Business Turnover
  • Financial Ratios
  • Past Track Record
  • Debt Servicing Ability of the Customers

Documents Required for Fullerton India Business Loan

The list of documents required for Fullerton India business loan includes:

  • Duly filled loan application form with passport size photographs.
  • Proof of Address (Voter ID Card / Passport / Ration Card / Driving Licence).
  • Bank statement for the last 6 months.
  • Income documents (including the latest ITR along with the computation of income, balance sheet, profit and loss account for the past two years) - The needs to be submitted after the requisite CA certification.
  • Continuation Proof (ITR / Establishment / Trade Licence / Sales Tax Certificate).
  • Other Documents (Sole Proprietorship Declaration Form / Certified Copy of the Partnership Deed, Certified True Copy of the Memorandum and Certified Articles of Association and the Board Resolution)

How Does the EMI Calculation Work for Fullerton India Business Loans?

The business loan EMI calculator in Fullerton India is easy to use. You just need to enter the rate of interest, loan tenure and total loan amount. Check below the simple steps you need to follow to determine the EMI amount in seconds:

  • Select the total loan amount using the slider.
  • Select the loan tenure.
  • Enter the appropriate interest rate that is suitable for your current business profile.
  • Once you press the submit button, your EMI amount will be displayed on the screen.

How Does Fullerton India Compare with Other Lenders?

Fullerton India offers business loans at amazing interest rates. The comparison of business loans in Fullerton India with SBI and HDFC is as follows: 

Bank Fullerton India HDFC Bank SBI
Interest Rate 17.00% - 20.00% 11.90% - 21.35% 11.20% - 16.30%
Processing Fees 2% Rs.499 2 - 3%
Loan Amount Rs.1.50 Lakh to Rs.20 Lakh Rs.50,000 to Rs.50 Lakh Rs.5 Lakh to Rs.100 Crore
Loan Tenure 12 to 48 Months 12 to 48 Months 12 to 48 Months
Lowest EMI Per Lakh Rs.2,886 Rs.2,628 Rs.2,594
Part Payment Charges 3 - 7% - Allowed After 6 Months Not Allowed 3% - Allowed after 0 months
Eligible Age 22 to 65 Years 21 to 65 Years 21 to 65 Years
Foreclosure Charges 3 - 7% - Allowed After 6 Months 2 - 4% - Allowed After 12 Months 3% - Allowed after 6 months
Minimum Years in Business Required 36 Months 36 Months 36 Months
Minimum Turnover Required Rs.20 Lakh Rs. 1 Crore Rs. 20 Lakh

Fullerton India Business Loan Customer Care Number

If you have any additional queries, you can always contact them via the Fullerton India business loan customer care number as mentioned below.

Toll-Free No. - 1800 103 6001

Call from 9.00 a.m. to 7.00 p.m.

(Monday to Saturday excluding fourth Saturday of every month and public holidays)

FAQs

From refinancing to reducing your interest, we have the answers right here.

How to apply for a Fullerton India business loan online?

Applying for a Fullerton India business loan online is a simple and easy process. Visit the official website of Fullerton India and go to its Apply Now page to start the process of your business loan application.

What is loan foreclosure?

Loan foreclosure is the amount of full repayment out of the remaining amount of loan you need to pay in a single payment rather than paying it in multiple EMIs.

Who can apply for a Fullerton India Business Loan?

The entities like self-employed individuals, private limited companies, partnership firms and proprietors working in manufacturing, trading or services can apply for a Fullerton India business loan.

Does Fullerton India provide business loans at the best rate?

Yes. Fullerton India provides business loans at an interest rate of 17-21%, depending upon several factors, including net income, business stability, location, existing monthly obligations, collaterals, etc.

What KYC documents will I have to submit to apply for a business loan in Fullerton India?

To apply for a business loan in Fullerton India, you need to provide identity, age and address proof (Voter ID / Aadhaar / Ration Card / Passport / Driving licence).

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