Fullerton India
Business Loan

Tip: Check credit score before applying for a loan

Fullerton business loans come with various attractive features and benefits, such as:

• A wide range of business loan products are available.
• Business entities do not have to hypothecate any of their assets or offer additional collateral.
• Fullerton provides business enterprises with the facility to apply for the loan online.
• Check your eligibility online using Business Loan eligibility/EMI calculator.
• Get up to a maximum of Rs. 50 Lakhs to meet your business requirements like working capital and procuring fixed assets necessary for the business.
• Fullerton Business Loans are renowned for their flexibility in tenure. You can repay the loan in up to 20 years.
• Attractive SME loan solutions available for businesses with turnover more than 30 Crores.
• Finance available for medium-term working capital requirements.
• Attractive and reasonable interest rates starting from just 17% p.a.

Also Check: Pan card cibil score

Choosing Fullerton Business Loans has the following benefits:

• Avail the benefit of easy repayment schedules and variety of repayment options such as ECS, post-dated cheques, and online payment.
• Fullerton permits prepayment of the Business Loan at any time during its tenure.
• Fullerton covers more than 58,000 villages and 600 towns in India with its vast network of 616 branches and a dedicated workforce of more than 12,000 employees.
• Simple documentation procedure.
• Quick sanctions and disbursals.
• No need for collateral.
• Online loan tracking.
• Easy repayment options.
• Easy eligibility norms.
• Existing borrowers get additional benefits.

Also check about Prime Minister Employment Generation Programme for start ups.

Fullerton India business loan interest rates are linked to the FICCL retail prime lending rate (RPLR). Current rates of interest applicable to Fullerton Business Loans are in the range of 17% to 21% p.a. The interest rates depend on various factors such as net income, business stability, location, collateral provided (for secured loans), existing monthly obligations, and so on.

Follow the link for: Cibil Login Registration

You can access our Business Loan EMI Calculator given under Financial Tools on our website. Enter some details on the calculator, such as the required loan amount, tenure, and rate of interest to get the EMI calculation instantly. The calculator also provides complete amortization schedule.

Here is an example of EMI calculation using MyMoneyMantra EMI Calculator:

Loan amount required: Rs. 50 Lakhs

Applicable rate of interest: 17% p.a.

Repayment tenure: 5 years

EMI to be paid by you each month: Rs. 1,24,263

Total interest to be paid: Rs. 24,55,773

Total amount to be paid by you to the lender: Rs. 74,55,773

Our EMI Calculator also provides the following amortization schedule:

Fullerton offers a variety of Business Loans depending on the business activity.

Business Loan for Self-employed

Business Loan for Women

Business Loan for Doctors

Business Loan for Chartered Accountants

Growing Enterprise Loan

Loan for Commercial Vehicle

Solidarity Group Loan

Samriddhi Loan

Additional Reading: Top Credit rating agencies in India

The documents necessary when applying for a Fullerton Business Loan are as follows:

• Loan application form completed in all respects along with a recent photograph
• Identity proof documents can be any one of: Passport, Voter ID Card, PAN Card, or Driving Licence.
• Proof of address (any one of): Ration Card, Electricity Bill, Telephone Bill, Rental Agreement, copy of Passport, Driving Licence, or bank passbook/statement.
• Proof of age (one of the listed documents): PAN Card, Passport, or certificate issued by a statutory authority.
• Bank account statements for the previous two quarters or last three months salary slips
• Form 16
• IT Returns for the last three years
• One signed cheque for payment of processing fee
• Additional documents required for Business Loans
• Profit and Loss Statements and Balance Sheet for the previous three years
• Proof of the existence of business
• Digital copies of the documents are necessary for uploading online after completing the loan application formalities.

Additional Info: Check Saksham Yuva Yojana in detail.

The eligibility norms are different for each loan depending upon the product and nature of the facility. However, some of the common factors concerning eligibility are as follows:

• Proprietors, self-employed individuals, partnership firms, private limited companies that are working in trading, manufacturing and service sectors are eligible.
• The minimum age of a borrower is 22 years whereas the borrowers should not be more than 65 years old at the time of the maturity of the loan.
• Individuals should be engaged in business for at least 3 years in the current business and must have a total 5 years of experience.   
• The annual turnover for a running business should be at least Rs. 10 Lakhs
• Enterprises should be making profit for at least the last 2 years.
• Enterprises must have a minimum annual income (as per ITR) of at least Rs. 2 Lakhs.

Also Check: CIBIL Defaulters List

Follow the steps below to apply for Fullerton India business loan through MyMoneyMantra:

• Visit our website and Select the Business Loan option from Loans tab.
• Enter the required details like your name, age, the amount of loan, income, location, etc.
• Share your mobile number and email details.
• We will send an OTP to your mobile number, enter it at the appropriate location to access the business loan products page.
• A new page will open where you can compare the various business loan products of different banks including Fullerton India.
• Our relationship managers will call you to assist you further.
• Keep the required documents ready to make the loan processing easy and fast.

Also Check: CIBIL full form

Various avenues for contacting Fullerton business loan customer care are available:

• Toll-Free No: 1800-103-6001 available between 9 am and 7 pm on all working days except Sundays and public holidays.
• Email: namaste@fullertonindia.com.
• Post: PO Box No 8108, Bandra East, Mumbai 400051.
• Registered Office: 3rd Floor, 165, Megh Towers, PH Road, Maduravoyal, Chennai 600095.
• Corporate Office: Supreme Business Park, Floors 5 and 6, B-Wing, Powai, Mumbai 400076.
• Know status of online application: Give a missed call to 9594763763 to get a call back within 24 hours.

 Escalation of your complaints is possible by sending email to: ccrc@fullertonindia.com and further to escalation@fullertonindia.com.