A business loan is a financial instrument that a business owner can use in a financial emergency. With Fullerton India, one can use the business loan for the expansion of one’s business, the purchase of machinery, enhanced production, etc. 

Business loans go up to INR 50 lakhs and are available to all eligible business owners. The loan comes with a competitive interest rate and does not require the pledging of assets as collateral.

Here are some of the benefits below:

1. low rates of interest when compared to other loan facilities.
2. No requirement for a guarantor or pledging of assets. 
3. One can meet their financial needs with a high loan amount.
4. The tenor of repayment goes up to 7-8 years.
5. Most financial institutions provide personalized offers, and the application process is quick and hassle-free.

Must Read: 5 Important factors that Determine your Approved Business Loan Amount

The eligibility criteria are different for most financial institutions offering business loans. The applicant must be of Indian nationality and have a good CIBIL score.  The age of the applicant must be above 24 years and the business must be at least a few years old.

Usually, for business loans, an EMI or business loan calculator is readily available online. Businesses looking for a business loan can log in to the website of Fullerton India and check their eligibility. One can also calculate the EMI that one will have to pay during the loan tenor. 

Banks and NBFCs charge different interest rates and fees for business loans, as well as fees for loan processing and approval. One must search the web, compare various lenders, and then choose a business loan that meets your needs while offering flexible repayment options.