At Fullerton India, we understand your business dreams and growth aspirations. There are phases in a business cycle when you seek financial avenues to fuel the growth of your small or medium level enterprise. Quite often your business needs that extra push to take it to a new level of development. In a stiff competitive environment and an ever growing economy, you would not want to lose any business opportunity that comes your way.
Our Business loans at Fullerton India are designed to do just that. We take care of a wide range of capital requirements, financial needs and other industrial expenses that are crucial to keep your business running. We have the right expertise and a keen eye to understand your business requirements. So whether you aspire to expand your current business venture or require new machinery or equipment for your enterprise, our customised business loans aim to provide the right answer to your problems based on your needs.
You need 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 will be made if you are a non-professional. You cannot exceed 65 years of age at the time of Loan Maturity.
Yes, the annual turnover of your business should be between ` 10 Lakhs and ` 100 Crores*. Further, your business needs to be in continuity for the last 3 years showing positive trends in turnover and profit for the last 2 years. Your Income Tax Returns of the last 2 years should reflect taxable income of above ` 2 Lakhs per annum.
*Should your turnover be above ` 30 Crores, please refer to the SME Loans section to understand the solutions that are designed for the SME segment.
Business Installment Loans are the loans, which are used to meet medium term working
You can repay the loan in equal monthly installments (EMIs). The loan can be repaid through post-dated cheques. You can also repay through an ECS mandate to your bank.
EMI or 'Equated Monthly Installment' is the convenient monthly amount that you have to service to pay back the loan availed. The EMI consists of both the principal and interest components.
You do not need to hypothecate any assets to avail a Business Loan from Fullerton India.
You can avail up to a maximum of ` 50 Lakhs. The amount would be calculated based on your income and other parameters that the Fullerton India Relationship Manager will explain.
Yes, you can foreclose your Business Loan after a minimum period of 6 months.
Yes, if you are an existing customer of Fullerton India, you will get additional benefits in processing time as well as in the interest rate.
* Loans are at the sole discretion of Fullerton India and are subject to guidelines of the Reserve Bank of India. Fullerton India may engage the services of marketing agents for the purpose of sourcing loan assets in certain locations.
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