Fullerton India Business Loan
Based on 104 Customer Reviews
Published on: February 12, 2018
Based on 104 Customer Reviews
Published on: February 12, 2018
About the bank
Fullerton India is a renowned NBFC(Non-Banking Financial Company) launched in January 2007 and headquartered in Mumbai, having successfully and strongly established itself by spreading across India’s broad financial landscape, with a network of over 528 branches and serving over 1.6 million customers. Their primary services comprise of financing of SME for working capital and growth, loans for commercial vehicles and two-wheelers, home improvement loans, loan against property, personal loans, working capital loans for urban self-employed professionals and loans for rural livelihood advancement, rural housing financing and financing of various rural micro-enterprises.
Fullerton India business loan
Business loans at Fullerton India are designed to take care of a wide range of capital requirements, financial needs and other industrial expenses that are important to keep your business running. So whether you want to expand your current business venture or require new machinery or equipment for your enterprise, customized business loans from Fullerton India aim to provide the right answer to your problems based on your requirements. Fullerton India Business Loan is a great way to fuel the growth of your small or medium level enterprise. The best part of Fullerton India Business Loan is that you can prepay the part of your loan anytime after paying prepayment charges of 1%. Afinoz.com have an exclusive tie-up with Fullerton India. Therefore applying for a Fullerton India business loan through Afinoz.com makes the process of application and approval of loans from Fullerton India much easier and quicker. By availing the benefits of Fullerton India business loans through Afinoz.com, business owners can achieve their dreams of business expansion.
What is Afinoz.com?
Afinoz.com is India's foremost online financial marketplace for availing loans and investments. Our main objective is to make the process of getting a loan or making an investment safer, convenient and hassle-free for individuals. We work with public and private banks, NBFCs and mutual fund houses across the entire country and offer an unbiased quotation on financial products. You can contact our team to get more information or apply for a loan or investment by calling on +918795021552 or by emailing at firstname.lastname@example.org. Afinoz.com provides solutions which are quick, reliable, transparent, confidential and above all free.
Features and benefit of Fullerton India business loan
Fullerton India Business Loans are a perfect solution to service your short-term finance and working capital requirements. With Fullerton India at your service, you can focus on growing your business while we take care of financing your business expansion needs.
- Self-employed can avail a loan amount up to 50 lakhs without any collateral
- Quick approval and hassle-free processing
- Easy EMI repayments through cheques or ECS
- Convenience of service at your doorstep
- Minimal paperwork & Documentation
- Credit Shield offerings (Insurance Cover for your loan)
- Flexible repayment options - range of loan tenures that suit your repayment capacity ranging from 12 months to 48 months
Fullerton India business loan eligibility and Fullerton India business loan interest rates can be easily evaluated through and seen on Afinoz’s website. If there is any query about Fullerton India business loan application, you can log on to afinoz.com or give us a call at +918795021552or mail us at email@example.com and get all the solutions at one go.
Fullerton India Business loan eligibility criteria
Fullerton India Business loan eligibility relies on two important factors:
- Your ability to repay the loan and,
- Your past track record in repayment of loans.
Other Important Aspects on which the eligibility of an applicant depends are:
- Age: Fullerton India provides a loan to those who are minimum 27 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
- Loan Amount: Based on the eligibility, Fullerton India can offer you loan ranging up to 50 lakhs. To improve your chances of approval, apply for an amount that you can comfortably service.
- Profitability and Revenue: Fullerton India Business Loan eligibility significantly depends upon profitability on your turnover, revenue, and profitability. Fullerton India requires a profit for minimum 2 years and minimum business turnover of Rs. 1,000,000.
- Business Stability: Future business prospects and its stability are significant to improve your eligibility for a business loan. Fullerton India requires a minimum business track record of 36 months. The NBFC 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 can have an impact your eligibility to get the loan.
- ITR and Banking: Fullerton India gives loan only after checking your ITR (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: Loan approval will be difficult if your CIBIL score is low. In some cases, even if your credit score is low, but your business is doing good then your loan application might get approved, but you might be asked to pay a high-interest rate and will be offered many unfavorable terms and conditions on your loan.
- Fullerton India business loan eligibility calculator: Using the business loan EMI calculator and business loan eligibility calculator at Afinoz.com you can easily calculate the exact amount of your monthly installment and your eligibility as per your potential.
Fullerton India business loan documents required
- Application form with recent photographs
- Proof of Identity (any one) (all directors) - (Passport Copy/ Voter ID card/ Driving License/ PAN Card)
- Address Proof ( Anyone) (all directors) - (Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License)
- Age proof (anyone)(PAN Card, Passport, any other certificate from a statutory authority)
- Proof of business existence
- Bank Statements (Bank statement / Bank Passbook for last 6 months)
- Profit and loss statement for last 3 years
- Balance sheet for last 3 years
- Income Tax Returns for last 3 years (for self and business) duly certified by a CA
- Processing fee cheque
Fullerton India business loan interest rates
|Interest Rates||16% to 33.50%|
|Loan tenure||1 TO 5YEARS|
|Processing Charges||Upto2.00% of the total loan amount + Service Tax|
Subject to a minimum of Rs 1000 and maximum of Rs.6000
|Prepayment||No prepayment permitted until the repayment of minimum 6 months EMI|
|Prepayment charges||5% of the Principal Outstanding + GST|
|No Dues Certificate/ No Objection Certificate(NOC)||Rs. 150 + Service Tax|
|Penal Interest||2 % per month on overdue installment amount|
Special Note: Rates are subject to periodic change. Business loan interest rates in Fullerton India & other fees and charges are subject to regular review and can vary from customer to customer depending upon a number of factors ranging from credit score, to existing loans, amount of savings, company with which you are currently employed, number of years of relationship with Fullerton India etc.
Why should you apply for a Fullerton India business loan through Afinoz?
Afinoz.com is India's leading personalized financial marketplace. We have created a business loan platform which lets you choose the best business loan that meets your requirements from the multiple options that are available to you.
- Instant Approval – Once you fill in and submit the application form along with the mentioned documents, you will get your e-approval within 2 to 3 business days.
- Real-time application tracking–Keep track of your application’s status in real-time with a unique transaction id which is generated at the time of loan application submission on our website. We ensure that all the applicants are kept informed about their application process at each step via SMS and emails.
- Online eligibility check - Do all your dealings with the bank online. You have to provide your basic information and our online business loan eligibility calculator will let you know the amount of loan you are eligible to borrow from Fullerton India for financing your business.
- Secure Environment - Afinoz.com has built-in security for your personal information which is stored in a secure environment on our system with your consent. This information is then sent to the bank in an encrypted format digitally and is very secured and scripted.
- 24/7 Customer Service - At any stage of the process if you have any query or seek any financial advice, our experienced and well-trained customer service team will offer the best financing/investment solutions to your problems. So there's no need for you to waste time and make multiple trips to any bank, NBFC or financial institution to discuss the various terms and conditions.
- No third-party agent –Afinoz.com online loan application process is free of any unwanted expenses and delays. One can approach a bank online directly through Afinoz.com without approaching any agent.
- Free quotations – Get the best online deals on Fullerton India business loans and free unbiased quotes on business loan interest rates. All you have to do is to select the loan amount you want to borrow and the tenure you want it for. You will get a targeted online quote within minutes of application.
How to apply for Fullerton India business Loan on Afinoz?
Fullerton India has an exclusive tie-up with afinoz.com. If you are looking for a business loan then you can simply log on to Afinoz.com to check your business loan eligibility and apply for a loan.
Business owners can apply for a loan in Fullerton IndiathroughAfinoz.com in the following three simple steps:
- Check your eligibility for the loan:-Firstly, you need to make sure you meet Fullerton India’s business loan eligibility criteria on Afinoz.com. For that, you have to submit some basic details relating to you and your business such as the employment type, business turnover, city, mobile number, email id on our business loan eligibility page. Once you submit these details, our system intelligence then runs an algorithm and get's you a quick quotation on the best business loan options available to you immediately.
- Select the loan amount and tenure: - Once you meet the eligibility criteria, select the loan amount and tenure as per your eligibility and submit.
- Upload and submit documents:-In the next step, fill out the application form along with details of the KYC documents and submit your application for processing from Fullerton India. The bank then verifies the applicant's information and starts processing the loan for disbursement.
At each step of the application process, Afinoz.com allows it's applicant to keep track of the status of their application in real-time via SMS as well as through emails. Due to such simplified and fast processing, Afinoz.com has become the most popular option among a large number of business owners.
Query- Are there any age eligibility criteria for me to apply for a Business Loan in Fullerton India?
Reply-The loan applicant needs to be at least 27 years of age to apply for a Business Loan under the 'Self Employed Business Category'. A relaxation of 2 years is made if the applicant is a non-professional. The applicant cannot exceed 65 years of age at the time of Loan Maturity.
Query-Are there any eligibility criteria that my business entity should meet for me to apply for a Business loan?
Reply -Yes, the annual turnover of the business should be between 10 Lakhs to 100 Crores. Further, your business needs to be in continuity for past 3 years showing positive trends in turnover and profit for the last 2 years. Your Income Tax Returns for the last 2 years should reflect taxable income of above 2 Lakhs per annum.
Query- What is a Business Installment Loan?
Reply- Business Installment Loans are those types of loans, which are used to meet medium-term working capital requirements.
Query-How can I repay my Business Loan?
Reply-The loan can be repaid the in equated monthly installments (EMIs) & through post-dated cheques. You can also repay the loan through an ECS mandate to your bank.
Query-What is an EMI?
Reply-EMI (Equated Monthly Installment) is the convenient monthly amount that you have to service to pay back the loan availed. The EMI of the loan consists of both the principal and interest components.
Query-Can I foreclose or prepay my business loan from Fullerton India?
Reply-Yes, you can repay your loan at any time during the loan tenure.
Query-Is there any benefit that I can get if I have already availed a loan from Fullerton India earlier?
Reply-Yes, if you are an existing customer of Fullerton India, you will get additional benefits in processing time & the interest rate.
For any query about Fullerton India business loan application, you can log on to afinoz.com or give us a call at +918795021552or mail us at firstname.lastname@example.org