6 Commonly Asked Questions about Fullerton India Business Loan

To embrace the business sense in India and help those who want to excel in their business, Fullerton India offers business loan up to Rs. 50 Lacs* at reasonable interest rate. Fullerton Business Loan can be availed to meet various expenses that arrive while running a business. Businessperson who wants to expand their business or stay relevant in the industry can avail this business loan without depositing any collateral. 

As Fullerton India is not as known as other financial company, there are many questions that arises in people’s mind when they apply for a business loan with Fullerton India. To educate yourself and apply for Fullerton Business Loan with clarity, read “6 commonly asked questions about Fullerton Business Loan” and know why it is one of the best financial assistance you can avail.

1. Where can Fullerton India Business Loan be used?

Fullerton Business Loan can be availed for various business-related expenses. It can be used to for the following reasons –

  • To pay-off large debts
  • To buy additional stock or raw materials or industry-based equipments
  • To expand the business office area
  • To manage the working capital flow
  • To invest in a new project or business

Fullerton India Business Loan is an unsecured business loan and can be availed for various reasons. For that, you won’t have to provide any collateral whatsoever. 

2. Who are eligible for Fullerton India Business Loan?

Fullerton India Business Loan can be easily availed due to its collateral free aspect. To apply, one needs to visit the website of Fullerton India and apply for business loan online. The ease of availability is the main factor which draws the attention of business person towards Fullerton India. Those who want to know “who are eligible for Fullerton India Business Loan” can get their answer in the points mentioned below.

  • Those who are Self-employed individuals, proprietors, private limited companies, and partnership firms working in manufacturing, trading, or services are eligible for Fullerton India Business Loan.
  • Person having more than 3 years experience in his/her current business and total business experience of 5 years can apply for business loan by Fullerton India.
  • Applicant’s age must be at least 22 years when they apply for the loan. The upper age limit is 65 years and applicant shouldn’t exceed it at the time of loan maturity.
  • To be eligible, the business needs to generate a minimum turnover of at least Rs. 10 Lacs in a year.
  • Those business who are in profit-making state from the last 2 years can apply for business loan online with Fullerton India.

3. What are the loan limits in Fullerton India Business Loan?

The loan limits in Fullerton India Business Loan are as follows –

Lower loan amount limit – Rs. 5 Lacs

Upper loan amount limit – Rs 50 Lacs

Those who are in a manufacturing business can avail business loan up to Rs. 50 Lacs without providing any collateral. To repay the loan amount, Fullerton India provides a 1-4 years after sanctioning of loan happens. One can easily repay the entire loan amount in small EMIs which can be paid on the specific date of every month throughout the loan tenure. 

Fullerton also provides an option to pre-pay the outstanding loan amount before the loan tenure ends. Business Loan customers can do that after successfully paying the 6 EMIs to Fullerton India. For that, Fullerton India charges 3-4% per annum.

4. What are the interest rates Fullerton India charges on business loan?

Known for providing business loan at easy term and conditions, Fullerton India charges quite reasonable interest rate to customers. Fullerton India Business Loan interest rate is floating in nature and ranges from 17-21% per year. As Fullerton India interest rate is floating in nature, the interest rate may vary as per the change in the market rate. Customers can avail benefits by paying less EMI when market rates are down. In the table given below, you can see the various fees that Fullerton India charges on Business Loan.

Interest Rates17-21% per year (floating interest rate)
Loan tenure1-5 years
Processing ChargesUp to 6.50% of the total loan amount +GST, Min – Rs. 1000, Max – Rs.6000
PrepaymentPermitted after 6 instalments
Prepayment charges3-4% + GST
No Dues Certificate/ No Objection Certificate(NOC)Rs. 150 + GST
Penal Interest2% per month on the due amount

5. What are the documents required for Fullerton Business Loan?

These are the documents that you will need to apply for Fullerton Business Loan –

  • Proof of Identity (Passport Copy, Voter ID, Driving License or PAN Card)
  • Residence Proof
  • Bank statements of the last 6 months
  • Latest ITR, Balance Sheet, and Profit and Loss Account for the last 2 years
  • Proof for Existence of Business (Trade license, Establishment or Sales Tax Certificate, MOA (Memorandum of Agreement) or Partnership Deed)

To maximise your chances of getting approval for Fullerton India Business Loan, provide every document that are mentioned above. Fullerton India won’t lend business loan to those who apply for business loan online with a limited set of documents.

6. How to apply for Fullerton India Business Loan?

Fullerton India Business Loan can be applied through Fullerton India’s website or by visiting Fullerton India branches. To apply for business loan with convenience, it is advised to opt for online mode. By doing so, you will be able to save a lot of time and efforts. Fullerton India accepts Business Loan Application through Afinoz too. With Afinoz, you can avail various benefits. They are –

  • Online loan application
  • Impeccable customer support
  • Quick approval and disbursal
  • Option to track the loan application status

Last but not the least, option to compare and choose the best business loan for you

Read More: Liberate Yourself from Financial Pressure, Apply for Fullerton Personal Loan Online