Borrowing for your business is always a positive step that can help you move faster. Our customised business loan interest rates and fees are tailored to suit every customer as per his or her individual profile and requirement. Thus, no matter what your need is – working capital, purchase of new machinery, business expansion or debt consolidation, our affordable solutions will ensure that you can meet your business loan requirements in the easiest and most convenient manner.
Fullerton India offers affordable Business Loans solutions. Upon receiving your application, you will firstly be evaluated for eligibility as per our policy at the time of loan application based on the information you provide us. If deemed eligible, our representative will get in touch with you to understand your requirements in detail and set up an appointment for document collection. Depending on what you require, your credit score, business turnover and other financials, we will arrive at the best possible business loan interest rates that can be offered to you.
Read on to know more about our business loan interest rates and other charges.
To know more, please feel free to get in touch with us through our customer care centre, or visiting us at your nearest Fullerton India branch.
| Interest Rate | 17-21% Interest Rate (depending on several factors including location, net income, business stability, collaterals, existing monthly obligations, etc.) |
| Loan Amount | Up to Rs. 50 Lakhs* |
| Loan Tenure | 12-60 Months |
| Proceeding Fees | Up to 6.5% of the Loan Amount |
| Customer Type | Proprietor / LLP/ Pvt Ltd / Partnership / Public Ltd |
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) |
300 |
| 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 |
| Foreclosure Charges | |
|---|---|
| 0 to 6 EMIs fully paid | Not allowed |
| 7 to 17 EMIs fully paid | 7% |
| 18 to 23 EMIs fully paid | 5% |
| 24 to 35 EMIs fully paid | 3% |
| 36 or more EMIs fully paid | 0% |
| **Additional Interest (applicable for payment defaults): | Rate |
|---|---|
| For all loans | 2% of the overdue EMI amount per month calculated on a daily basis |
*Terms and Conditions apply
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