Business Loan Interest Rates
Borrowing for your business could help you fulfil a variety of needs, including supplementing cash flow, inventory stocking, working capital requirements, etc., but the question of the business loan interest rates and consequently high EMIs may weigh on you. However, with Fullerton India’s customised offerings and affordable solutions, you can rest assured that your finances will be well managed.
Business loan interest rates are of 2 types – diminishing and flat. A diminishing rate of interest is applied to the principal amount that is outstanding, thereby reducing the EMI that you need to pay as you proceed along the loan tenure. On the other hand, a flat rate of interest is applicable for the entirety of the loan tenure, thereby implying a constant sum that will need to be repaid as EMIs. To understand this better, it is advisable to have a detailed discussion with your lender before you proceed so that you can plan your finances well.
Fullerton India offers affordable solutions through competitive business loan interest rates. When you apply online, a complete assessment will be done. Depending on your requirement, credit history, income statements, bank documents, financial health of your business, and various other criteria including the company’s policy at that time, the best possible rate of interest will be calculated and offered to you. It will also depend on the no. of years your business has been in operation, and the purpose of borrowing.
Speak to a customer service representative at the nearest branch or over the phone, online, or on chat to know more about the applicable business loan interest rate for your enterprise.
| Customer type |
Interest Rates |
| Proprietor / LLP/ Pvt Ltd / Partnership / Public Ltd |
13-21% (depending on several factors including location, net income, business stability,collaterals, existing monthly obligations, etc.) |
We offer some of the lowest business loan interest rates in the market. To know more, please view Our Policy page.
Business Loans Fees & Charges
Here’s a table of Fees and Charges for Fullerton India Business Loans to help you understand the same in detail
| Fee Type |
Applicable Charges |
Delayed EMI Payment Interest
( per month of delay, every month) |
As stated under additional interest charge** |
Collection of Cheque/Cash
(per collection) |
300 |
Cheque /ECS dishonoured Charges
(per dishonour of cheque/ECS per presentation) |
30 |
Swap Charges- for replacement of Post-dated cheques to ECS
(per instance) |
500 |
Swap Charges- for replacement of ECS to ECS
(per instance) |
500 |
Loan Cancellation charges
(loan cancelled before first EMI) |
1000 |
| Processing Fees |
Up to 6.5% of the Loan Amount |
| Foreclosure Charges |
|
| Within 6 months from the Agreement Date |
0.04% |
| Within 7 months to 12 months from the Agreement Date |
0.04% |
| Within 13 months to 24 months from the Agreement Date |
0.04% |
| Within 25 months to 60 months from the Agreement Date |
0.03% |
| Within 61 months to 84 months from the Agreement Date |
0.03% |
| After 84 months from the Agreement Date |
0.03% |
| *Additional Interest (applicable for payment defaults): |
Rate |
| For loans below INR 5 Cr |
An amount not exceeding zero point seven (0.7) per cent per annum |
| For loans exceeding INR 5 Cr |
An amount not exceeding zero point five (0.5) per cent per annum On the Principal amounts outstanding under the Loan payable from the relevant due date until the date of actual payment / rectification of default. |
**Additional Interest
(applicable for payment defaults) |
0.75% per month on the outstanding principal loan amount |
***Additional Interest
(applicable for payment defaults) |
An amount not exceeding zero point five(0.5) per cent per annum on the Principal amounts outstanding under the Loan payable from the relevant due date until the date of actual payment / rectification of default. |
| Rate of interest conversion fee |
an amount not exceeding one per cent (1%) of the loan amount
sanctioned ( Loan Against Property/LRD) |