Fullerton India Business Loan, Documents Required, Eligibility Criteria, Loan Interest Rate, How to Apply? Customer Care details.
Are you planning to start a business and do you need a business loan for that?
OR,
Do you want to expand your current business to a new level and do you need funds for that? If yes, Fullerton India can be very helpful for you.
| Loan Amount | Up to 50 lakhs |
| Loan Tenure | 12 to 60 months |
| Interest Rate | 17% to 21% (can vary) |
| Processing Fee | Up to 6.5% of the loan amount |
Let’s dig more into Fullerton India Business loan Details
Contents
Fullerton India Business Loan
Fullerton India is a registered NBFC with the RBI, that offers various types of loans. Among them, the Business loan is one. It offers a business loan that can be used for working capital requirements, purchasing assets for the business, etc.
It also provides the option of a customized loan that depends on your business type and its cash flow.
Fullerton India Business Loan Features & Benefits
- The loan application process is online. you need not to visit anywhere.
- It offer business loan up to 50 Lakhs.
- The loan repayment tenure is quite flexible and it ranges from 12 months to 60 months. for secured business loan against property the tenure can be from 12 to 180 months.
- It offer the competitive interest rate varies from 17% to 21% depends on your income source, number of years in business, business stability etc.
- Minimal documentation requirements.
- No collateral is required
- It also provides the customized loan solution as per your business profile.
- You can track your business loan status online using Fullerton mobile app or through customer care.
Eligibility Criteria For Fullerton Business Loan
- Self employed individuals, proprietors, private limited companies, and partnership are eligible for this loan.
- Individual must have 22 years of age and less than 65 at the time of maturity.
- Applicants must have at least 3 years of total experience in the current business and total business experience should be 5 years.
- The minimum turnover of the business should be Rs. 10 lakhs.
- The business must be generating profit from the last 2 years.
- The business should file a ITR of Rs. 2 lakhs per year.
Documents Required For Fullerton India Business Loan
- Identity Proof such as PAN card, Driving License, Aadhaar Card etc.
- Address Proof such as Electricity bill, Passport, Aadhaar Card etc.
- Bank Statements of last 6 months
- Latest Photographs
- Income Proofs
- Certificate or Registration of business existence
- Latest ITR along with the computation of income, balance sheet, profit & loss for the last 2 years has to be submitted.
- Other documents like sole proprietorship declaration or certified copy of partnership, certified true copy of Memorandum may be required.
NOTE: You may need to produce additional documents depending on your profile, business, etc.
Types of Business Loan Offered by Fullerton India
There are various types of loans provided by Fullerton as per your business requirement and your profile. below you can find them.
Fullerton India Business Loan for Self Employed
| Loan Type | Features/Descriptions |
|---|---|
| Fullerton India Business Loan for Self Employed | This loan is helpful for your working capital requirement for the short term. It can also be used to manage your operational expenses to keep your business running. |
| Age Criteria | At least 27 years of age and less than 65 years at the time of maturity. |
Fullerton India Business Loan for Women
| Loan Type | Features/Descriptions |
|---|---|
| Fullerton India Business Loan for Women | This loan is available for women who want to get success in their business goals. |
| Features | 1. Unsecured financial help up to Rs. 50 lakhs. 2. This loan is available at an extra special rate of interest. 3. Fullerton provides insurance cover for this loan. 4. No collateral is needed. 5. Flexible loan tenure between 12 months to 60 months is available. |
Fullerton India Business Loan for Doctors
| Loan Type | Features/Descriptions |
|---|---|
| Fullerton India Business Loan for Doctors | This loan is suitable for opening your own clinic, nursing home, or if you want to renovate your existing workspace. you can also use this loan for hiring staff, buying medical equipment, etc. |
| Features | 1. Avail this loan Up to Rs. 50 lakhs 2. Loan applications can be initiated online. 3. Loan repayment term is from 12 months to 60 months are available. 4. No collateral is needed. 5. No lengthy paperwork. |
Fullerton India Business Loan for Manufacturers
| Loan Type | Features/Descriptions |
|---|---|
| Fullerton India Business Loan for Manufacturers | This loan can help you to cover your increased expenses, excessive inventory, and cost of raw materials. Moreover, this loan is helpful for running your manufacturing process smoothly and continuously. |
| Features | 1. Avail this loan Up to Rs. 50 lakhs 2. Loan applications can be initiated online. 3. Loan repayment term is from 12 months to 60 months are available. 4. No collateral is needed. 5. No lengthy paperwork. |
Fullerton India Business Loan for Traders
| Loan Type | Features/Descriptions |
|---|---|
| Fullerton India Business Loan for Traders | This loan is ideal for traders who provide the link between manufacturers and consumers. Any individual or firm engaged in buying and selling goods is eligible for this loan. |
| Features | 1. Avail this loan Up to Rs. 50 lakhs 2. Loan applications can be initiated online. 3. Fullerton provides insurance cover for your loan. 4. No collateral is needed. 5. No lengthy paperwork. 6. Interest rates are available at an extra special rate. |
Fullerton India Business Loan for Chartered Accountants
| Loan Type | Features/Descriptions |
|---|---|
| Fullerton India Business Loan for Chartered Accountants | As a chartered accountant, you have to do a various financial tasks like audits, creating financial solutions, etc. However, In case you want to open your own office, this loan can be taken from Fullerton India. |
| Features | 1. Avail this loan Up to Rs. 50 lakhs 2. Loan applications can be initiated online. 3. Loan repayment term is from 12 months to 60 months are available. 4. No collateral is needed. 5. No lengthy paperwork. |
How to Apply for Fullerton India Business Loan?
- Visit Fullerton India official website and click on the button Apply Now.
- On the next screen choose Business Loan/SME Loan and enter the required loan amount.
- Next, choose if you are salaried or self employed and fill the required information accordingly. select your city from the drop-down, enter your business yearly profit after tax, authorize for call from Fullerton India and click on the Apply Now button.
- Based on your entered information, an instant decision will be shown. you will also informed if the loan application has been considered or not.
- If it is considered, You will get a reference number. keep it for future reference.
- Next, Fullerton India representatives will call you for any other required information.
- Your loan application and your documents will be verified. Your address verification and documents collection will be done physically.
- After verification of your documents and address, you will given loan offer and the interest rate.
- Once you accept the loan offer and rates, the loan amount will be disbursed to your bank account.
How to Repay Fullerton India Business Loan?
You can repay the loan in equal monthly installments (EMIs). The loan can be repaid through post-dated cheques.
You can also repay the loan through an ECS (Electronic Clearing System) mandate to your bank. It means the loan will be auto-debited from your bank on the due date. you need not worry about it.
Make sure that a sufficient amount should be there in your account in order to avoid any fees or charges.
Fullerton India Business Loan Interest Rate, Fees & Charges
| Interest Rate | 17% to 21% depending on the various factors. |
| Delayed EMI Payment Interest | 24% per annum on outstanding balance which is overdue, calculated on the daily basis. |
| Collection of Cheque/Cash | No Charge |
| Cheque Dishonour Charge | Rs. 300 per dishonor |
| Swap charges for replacement of post-dated cheques to ECS | Rs. 500 per Instance |
| Swap charges for replacement of ECS to ECS | Rs. 500 per Instance |
| Loan cancellation charges (Before first EMI) | Rs. 1000 |
| Foreclosure Charges | 0 to 6 EMI Fully Paid = Not allowed 7 to 17 EMI Fully Paid = 7% 18 to 23 EMI Fully Paid = 5% 24 to 35 EMI Fully Paid = 3% 36 or more EMI Fully Paid = 0% |
How to Check Fullerton India Loan Application Status?
There are various methods using which you can check the Fullerton India loan status which can be found below.
a. Track your Application Status Online
- Visit the Fullerton India official website and enter your application ID (Application ID is the number received via SMS at time of loan application submission).
- Enter your registered mobile number.
- Click on the tab “Check Loan Status” to check your loan application status easily.
b. Call Customer Care
- You can call Fullerton India customer care number 1800 103 6001, provide your loan application reference number/ID to the executive and know your loan status easily.
c. Check loan Status through email
- You can send an email to namaste@fullertonindia.com with details, like your full name, registered email address, registered mobile number and PAN details. After details are verified, your loan application status will be provided in 2 working days.
d. Visit nearest Fullerton India Branch Office
Visit your nearest branch office, provide your application number to the bank officials, carry your PAN card and Aadhar card for identification, and after verification, you will be able to know the status of your loan.
e. By Visiting Contact Us Section
Visit the Fullerton India Contact Us section, Select Yes if you are an existing customer else select No.
Enter the required details, enter the message if you want. Submit your query and know your loan application request.
Fullerton India Customer Care Details
| Fullerton India customer care number | 1800 103 6001 |
| Fullerton India customer care email ID | namaste@fullertonindia.com |
| Fullerton India registered address | Fullerton India Credit Company Ltd 3rd Floor, No – 165 Megh Towers PH Road Maduravoyal Chennai – 600 095 CIN Number: U65191TN1994PLC079235 |
| Fullerton India Post address | Fullerton India Credit Co Ltd P.O. Box No. 8108 Bandra East Mumbai 400 051 |
Conclusion
In this article we have discussed, Fullerton India Business Loan | Documents Required | Eligibility | Loan Interest Rate. I hope the detailed information about the Fullerton business loan will be useful.
Consider a business loan only when you need it the most. make sure to repay it on time otherwise, you will be in debt and this will affect the company’s balance sheet.
Always be smart enough to choose the correct and valid lender for getting business loans. The Thumb rule is to go with the trusted ones, however, you can check out the others as well.
Also, you must consider the offered loan amount by the lender which is very crucial as it should meet your business requirement.
Read Also
- Fundstiger Business Loan | How to Apply a Business Loan With Fundstiger?
- Nainital Bank Business Loan | Nainital Bank MSME Loan
- IIFL Loan Against Securities | How to Avail Loans Against Shares
- Muthoot Finance Business Loan Review | How to Get Muthoot Finance Loan For Business
FAQs
Fullerton India customer care number = 1800 103 6001
Fullerton India business loan interest rate ranges from 17% to 21%.
Yes, you can close a Fullerton business loan at any time during the loan tenure.
Fullerton offers a maximum business loan of Rs. 50 lakhs.
The processing fee is up to 6.5% of the loan amount.
The loan tenure ranges from 12 months to 60 months. If you go for a secured business loan against property the repayment tenure will be up to 180 months.
