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Fullerton India is a Non-Banking Financial Company registered with the RBI. The business loans of the NBFC are one of the many loan segments provided by the bank. Few basic details of these business loans are provided hereunder.
Highlights of the Fullerton India Business Loans
|
Category |
Details |
|
Quantum of finance |
Up to Rs. 50,00,000 |
|
Tenure |
Minimum 12 months; Maximum 60 months |
|
Rate of interest |
17% to 21% per annum (depending on several factors) |
|
Processing fees |
Up to 6.5% of the loan amount |
Eligibility for Fullerton India Business Loans
|
Category |
Details |
|
Eligible applicants |
Self-employed Individuals, proprietors, private limited companies and partnership firms engaged in manufacturing, trading or services. |
|
Age |
Minimum age – 22 years Maximum age – 65 years |
|
Employment |
Minimum years in current business – 3 years Minimum total business experience – 5 years |
|
Turnover |
Minimum turnover – Rs. 10,00,000 |
|
Profitability |
The entity has to be a profit-making unit for the past 2 years |
|
Annual Income |
The entity needs to have a minimum annual income of Rs. 2,00,000 |
|
Collateral |
Collateral free business loans |
Documents needed
|
Category |
Details |
|
Identity Proof |
valid identity proof |
|
Address Proof |
|
|
Income Proof |
Latest ITR with two years data of computation of income, balance sheet, profit and loss account with necessary CA Certification |
|
Bank statements |
For the past 6 months |
|
Proof of continuation |
ITR/ Trade License/ Sales tax Certificate |
|
Additional Documents |
|
Final Thoughts
Fullerton India Business loans are an excellent loan option for small businesses and are available across the country to ensure that maximum applicants can get the advantage of the business loans.