A business loan is one of the best ways to start a new venture or manage the current situation if you are facing any financial strain. There are multiple options to it, however, in current times, NBFCs are proving the best lenders.
So, in today’s post, we will talk about two such lenders. They are Fullerton India business loan and Indifi business loan. Both of them offer instant business loans to borrowers depending upon their requirements. Let’s check them out one by one.
Fullerton India business loan
Fullerton India Business loan focuses on wide ranges of needs. Whether you need a straight loan or a customized one, it is available.
- The loan amount is offered up to Rs 50 lakh.
- The Business loan interest rate starts at 17% per annum.
- The loan tenure is up to 5 years.
- The processing fee is up to 6.5% of the loan amount.
- The NOC charge is Rs 150.
- The penal interest is 2% per month.
- The foreclosure charge is allowed after 6 EMIs.
- It does not require collateral.
The eligibility criteria
- The applicant’s age should be a minimum of 27 and a maximum of 65 years at the maturity time.
- The self-employed professionals, private limited company and partnership firms are eligible for the loan.
- The minimum turnover should be at least Rs 10 lakh
- The business should have established for at least 5 years.
- The applicant should have a minimum of 3 years of work experience.
- The CIBIL score should be at least 700.
Types of Fullerton Business loan
- Business loan for self-employed
- Business loan for women
- Business loan for doctors
- Business loan for Manufactures
- Business loan for Chartered accountants
Why you should choose the Fullerton India business loan?
- A higher loan amount without any collateral.
- The loan is processed quickly without any hassle.
- The EMIs are payable via multiple options.
- There is doorstep service available.
- The business loan interest rate is competitive.
- There is insurance cover for a loan.
- There is flexible repayment tenure.
Required documents for Fullerton India business loan
- The loan application form
- Proof of identity – Aadhar card, PAN card, Passport, Voter ID card, Driving license
- Proof of address – Ration card, Telephone bill, rental agreement, electricity bill
- Age proof – PAN Card, passport
- Business existence proof
- Bank statement for the last 6 months
- Bank passbook for the last 6months
- Balance sheets for the previous 3 years
- ITR for the last 3 years
- Processing fee cheque
How to apply for a Fullerton India business loan?
To apply for a Fullerton loan, you can either download its app from the Google play store or visit the official website. Both ways are easy to do. If you have any issue or a query, you can call them at toll-free number 1800 103 6001. Now, let’s move on to the next lender
Indifi Business loan
Indifi business loan is a registered NBFC offering the loan without any collateral. This unsecured loan is one of the best business loans in India.
- The loan amount is offered up to Rs 50 lakhs.
- The business loan interest rate is 1.5% per month.
- The loan tenure is up to 3 years.
- The processing fee is 2% of the loan amount.
Features of Indifi Business loan
- It requires minimal documentation.
- Customized business loans are depending upon your business needs.
- There are no hidden charges.
- The process is hassle-free and transparent.
- There is flexibility in choosing the repayment period and the loan tenure.
- The loan application is approved based on its cash flows, stability in business, earnings, and strength.
- The loan amount is transferred directly into a borrower’s bank account.
- The loan is easily available online.
Types of Indifi business loan
- Credit lines
- Term loans
- Short term loan
- Invoice discounting
- Merchant cash advance
The eligibility criteria for Indifi business loan
- The loan could be availed by a private limited company, partnership firm, proprietorship firm, or a self-employed professional.
- The borrower’s age should be at least 23 years old.
- The applicant should own the business.
Required documents for Indifi business loan
- The loan application form
- adhar card
- PAN card
- Bank statement for the past 6 months
- Proof of business address
- ITRs for the last 2 years
How to apply for an Indifi business loan?
Similar to the Fullerton India Business loan, you can download the Indifi loan app from the Google play store to apply for a business loan.
Hope you will like these two NBFC lenders offering a business loan. Both of them have excellent deals for you to help with. In case you need more information contact there, representatives, to know more.
Read More: Comparing Business Loan Of A Bank and An App